On December 22, 2022, the Government Commission on Monitoring Foreign Investment in the Russian Federation  issued additional restrictions on transactions with shares (participatory interest) in joint stock companies and limited liability companies, as well as on payment of dividends in favor of shareholders from so-called “unfriendly” states.

On January 1, 2023, a new law took effect, extending a number of anti-crisis measures – the Federal Law No.519 “On introducing amendments to certain legislative acts of the Russian Federation an on suspending the effect of certain provisions of legislative acts of the Russian Federation. In this brief, we will examine the most significant measures in corporate relations. Let’s have a detailed look. 

On September 20, 2022, Government Resolution No.1651 was published, which approves the rules for obtaining a permission from the Government Commission for Control over Foreign Investments in the Russian Federation for transactions involving shares, real estate, etc. 

On April 12, 2022, Draft Law No.104796-8 “On external administration for managing a company”  was introduced to the State Duma of the Russian Federation. The Draft Law allows external administration of companies with non-friendly foreign participation of at least 25%.

In the first half of March 2022, the list of Russian “anti-sanctions” measures changed significantly. Current acts of the Russian state authorities in this area are aimed at solving two key tasks, namely, reducing the outflow of foreign currency from the Russian banking system and limiting the exit of foreign investors from Russian assets.

Starting from July 1, 2021, remote voting of company shareholders is allowed for meetings in person and new rules on absentee voting enter into force.

Starting April 26, 2021, information on the shareholder that owns 100% of a joint stock company must be indicated in the Companies Register.

Starting March 27, 2021, liability for violations of personal data laws will increase

At the beginning of March, temporary amendments to the procedure for holding general meetings of shareholders in 2021 introduced by Federal Law No.17-FZ dated February 24, 2021 will take effect.

On March 5, 2019, the State Duma adopted a draft law in the second reading concerning amendments to Parts 1, 2 and 3 of the Russian Civil Code (on digital rights).