The legislation was presented by Ivan Abramov.
The Federation Council approved amendments to Article 5 of the Federal Law On International Companies and International Foundations, as well as to several other legislative acts of the Russian Federation. The document, which clarifies the procedure for the redomiciliation of international companies, was presented by First Deputy Chair of the Federation Council Committee on Economic Policy Ivan Abramov.
The law is intended to provide a stable operating environment for businesses in Russia. It simplifies a number of procedures for international companies transferring their operations to the Russian jurisdiction, extends deadlines for completing the required documentation, and preserves special support mechanisms for companies operating under external restrictions.
“Additionally, the law establishes specific procedures for the buyback of Russian assets by foreign investors. This will help protect Russian companies, preserve investments and ensure stable economic development,” the Senator said.
The Federal Law will enter into force on the date of its official publication. Its implementation will require the adoption of subordinate regulatory legal acts.