FAS HAS PREPARED A DRAFT LAW TO DETAIL THE PROCEDURES FOR FOREIGN INVESTMENT IN RUSSIAN COMPANIES

Adoption of the document developed by the Authority* will allow potential investors to correctly apply the provisions of the legislation on foreign investment

The FAS Russia proposes to detail the procedures applied in the framework of monitoring the implementation of foreign investments in Russian business entities.

The draft document contains a certain “checklist of actions” for investors. It determines in respect of which non-strategic economic entities a transaction may be submitted for consideration by the Government Commission on Control over Foreign Investment in the Russian Federation.

A potential investor, having a list of such criteria, can immediately determine the instance to which it is necessary to send the application.

The adoption of this draft law will reduce the terms for consideration of applications for foreign investors, since the list of all necessary documents will be known in advance. The document will also make it possible to specify the existing provisions of the legislation on foreign investment, ensure clarity and transparency of decisions taken.

Reference:

*Draft Law “On Amendments to the Article 6 of the Federal Law “On Foreign Investments in the Russian Federation” and Articles 32 and 33 of the Federal Law “On Protection of Competition”