21 июля 201113:11
Offshore Companies to Name Beneficiaries
UrBC, Moscow, July 20, 2011. The draft new version of the Russian Federation Civil Code contains a new requirement for offshore companies: they will now have to disclose the names of their beneficiaries, Vedomosti reports. The availability of such information is a sine qua non proviso for doing business in Russia, the new amendments say. A legal entity is prosecuted for misinforming the authorities or for backing out of providing these data. The amendments do not specify, however, how such a legal entity shall be prosecuted for the offense. The proposed version of Article 51 makes it