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Increase of mandatory contribution upon sale of Russian business by foreigners

DATE: October 14, 2024 | AUTHOR: AT

To sell Russian business owned by residents of «unfriendly» states, it is obligatory to obtain a permission of the Government Commission for Control over Foreign Investment. The conditions for obtaining the permission used to be a contribution to the Russian budget in the amount of 15% of market value of assets and a 50% discount.

Due to frequent amendment of the market value of the assets to be sold in appraisals, the authorities decided to increase the amount of the contributions from 15% to 35% and the amount of the discount from 50% to 60%.

If the transaction exceeds 50 billion rubles Presidential approval will be required.

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