Media & Resources

The RF Ministry of Finance proposes to reduce currency control over Russian citizens residing abroad

DATE: November 25, 2016 | AUTHOR: atlawyers

According to media reports the RF Ministry of Finance drafted the amendments to Federal Law «On Currency Regulation and Currency Control». Changes refer to the currency non-residence status of Russian citizens. If accepted, a citizen permanently residing in a foreign country, will retain the status of currency non-resident, shall he or she remain in Russia not longer than 183 days (as opposed to previously offered 3 month period). The amendments are intended to become effective in early 2018.

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