Media & Resources
Ministry of Finance proposes to soften the rules for determining the currency residence of the RF
DATE: September 23, 2016 | AUTHOR: atlawyers
Ministry of Finance is drafting a Bill allowing Russian citizens who live abroad to maintain their non-resident status for the purposes of currency control legislation, allowing them to visit Russia for three months in a year. Currently any visit to Russia terminates non-resident status for one year since last departure from RF. It is also proposed to expand the allowed grounds for crediting funds to residents’ foreign bank accounts.