Foreign companies and structures lacking the legal status of a legal person such as foundations, partnerships, associations, trusts, as well as other forms of collective investment or trust management (“Foreign Structures”) are required to disclose, by 28 March 2022, information on their participants (for Foreign Structures – information on their founders, beneficiaries and managers) by virtue of being registered for tax purposes in Russia whatever the grounds for registration are.
This new requirement was introduced by a Federal Law* that changed the grounds for disclosure by amending the obligation for foreign companies and Foreign Structures to disclose information on participants. Previously, this obligation was imposed only on foreign organisations that owned immovable property in Russia.
Under the new rules, foreign companies and Foreign Structures must submit a notification including information about direct participants (irrespective of their participation interest) as well as indirect participants (individuals and private companies) provided that their participation interest exceeds 5%.
The respective notification must be submitted annually to the tax authority at the place of tax registration of the foreign company or Foreign Structure.
You can find out how to comply with the new rules in the eAlert we distributed on 21 October 2021.
For further information, please email the authors.
* In Russian