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

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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