Tax News Reporter - Week Ended 22 October 1996
The minimum charter capital for banks with less than 50% foreign participation is now 13.5 billion roubles, and, for non-bank credit organisations, 3.5 billion roubles. If the foreign participation exceeds 50%, the minimum requirement becomes 34 billion roubles, and no shareholder may be involved for less than 10 billion roubles.
Telegram of the Central Bank of 4 October 1996 No. 124-96
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Click Contact Link or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The minimum charter capital for banks with less than 50% foreign participation is now 13.5 billion roubles, and, for non-bank credit organisations, 3.5 billion roubles. If the foreign participation exceeds 50%, the minimum requirement becomes 34 billion roubles, and no shareholder may be involved for less than 10 billion roubles.
Telegram of the Central Bank of 4 October 1996 No. 124-96
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Click Contact Link or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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