Significant Changes In Corporate Law

Companies will be obliged to disclose their beneficial owners

For the first time Russian companies are required to identify their beneficial owners.

Applicable to: all legal entities, except for:

• public/municipal authorities, state corporations and state-controlled companies;
• international organizations and foreign states;
• listed companies disclosing information in accordance with the law;
• foreign companies listed on a foreign stock exchange included in the Central Bank list.

What is required:

• to obtain information on the company's beneficial owners;
• to undertake all reasonable and available measures to obtain complete information on their name, citizenship, date of birth, details of passport and migration documents, address, taxpayer identification number;