Starting from March 30, 2023, there is a requirement to notify the Federal Antimonopoly Service of Russia (the “FAS”) about the change of citizenship of a person who owns 5% or more shares (stakes) in a strategic enterprise, but does not control this enterprise.
This requirement was established by the Resolution of the Government of the Russian Federation No. 491 dated March 28, 2023 "On Amending the Resolution of the Government of the Russian Federation of October 27, 2008 No. 795." (the “Resolution No. 795”).
According to the Resolution No. 795 such information must be sent to the FAS in the form of a notification within 45 days from the date of the change of citizenship. Previously, the requirement to provide such information was provided by the Law on Foreign Investments in Strategic Enterprises.
Nadmitov, Ivanov & Partners Law Firm advises on obtaining permission from the Government Commission on Monitoring Foreign Investment.
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