Media & Resources
Russian companies may become obliged to disclose beneficiaries.
DATE: October 15, 2015 | AUTHOR: atlawyers
Russian companies may become obliged to disclose beneficiaries. The RF Federal Financial Monitoring Service presented to the RF Government a Bill amending Federal Law “On counteraction of the legitimization of the proceeds of crime and the financing of terrorism” according to which Russian legal entities will have the duty to disclose their beneficiaries annually. The Bill defines the beneficial owners of companies as persons directly or indirectly owning more than 25% of the capital of a company or controlling its activity.