On 16 February 2022, RUS GVT amended law regarding foreign legal entity.
- RUS GVT issue law making amendments to Articles 28 and 29 of the law on protection of competition and law on the procedure for making foreign investments in business companies of strategic importance for ensuring national defense and state security.
- Provides for specifics of transactions aimed at restoring the previously lost control of a beneficial owner over a foreign legal entity registered by way of redomiciliation as an international company in a special administrative region of the Russian Federation.
- If certain conditions are met, the obligation of RUS CMP to preliminarily approve transactions provided for by the law on protection of competition is excluded.
- The amendments also simplify the approval of transactions provided for by the law on the procedure for making foreign investments in business companies of strategic importance for ensuring the defense of the country and security of the state.
