SINCE DECEMBER, 21 2016 COMPANIES WILL BE OBLIGED TO DISCLOSE INFORMATION ON BENEFICIAL OWNERS

Apr, 28 2017

On  June, 07 State Duma has adopted the law, that oblige companies to disclose information about its beneficial owners. Under beneficial owner is  an individual that directly or indirectly owns more than 25% of the charter capital of the company is meant. According to the amendments, the companies are obliged to be fully informed about its beneficial owners, to use all reasonable efforts to determine them, and to disclose this information upon the request of competent authorities. Furthermore, companies are obliged to update this information at least annually. The amendments will come into force since  December, 21 2016.

Author of the article

SINCE DECEMBER, 21 2016 COMPANIES WILL BE OBLIGED TO DISCLOSE INFORMATION ON BENEFICIAL OWNERS
Valentina Khlavich
Managing Partner

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