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.