The decision of the Russian government foreign investment commission to impose a mandatory collection on the sale of assets of “hostile” non-residents could affect hundreds of Western companies that have announced plans to leave the Russian Federation, but have not yet completed their exit. . The newspaper writes about it Finance Times.
According to the publication, only 206 of the approximately 1,400 foreign companies with legal personality in Russia with an annual income of at least $ 5 million sold their assets completely.
Some decided to stay. Many tried to leave, but were trapped in a long and confusing process as every deal had to be approved by the Russian government’s foreign investment commission.
“The commission meets three times a month and considers up to seven applications at one meeting – so you can count,” a participant in one of the ongoing withdrawal negotiations said in the post.
Formerly the Government Commission for the Supervision of Foreign Investments introduced collection from the sale of assets of “hostile” non-residents.