MOSCOW, August 23. /TASS/. Russia’s Finance Ministry and Central Bank have decided to ease restrictions on the payment of dividends to foreigners investing in the country’s economy, the Finance Ministry said in a statement.
"The Russian Finance Ministry and the Bank of Russia are easing previously imposed restrictions on the payment of dividends to foreigners investing in the Russian economy. The subcommittee that oversees foreign investments has considered and taken into account the decision," the statement reads.
"Dividends (profits) may be paid to foreigners without restrictions, though their volume should not exceed the amount invested in Russia," the ministry noted. Moreover, among the terms of dividend payouts are investments by foreign creditors in the Russian economy starting April 1, 2023, including expansion of output in Russia and the development of new technologies. Earlier, the amount of the dividend payment could not be higher than 50% of the total amount of net profit in the previous year provided that the given KPI is hit.
Russian Finance Minister Anton Siluanov said in an interview with TASS earlier that foreigners should continue working in Russia. Companies will receive the right to receive dividend payments only if they demonstrate the wish to stay in Russia, maintain jobs, continue operations, and observe all laws and regulations, he added.