Liberalization of dividend payments to affect nonresidents who invested in Russia beginning in April 2023

MOSCOW. Aug 23 (Interfax) - A decision to liberalize payment of dividends to non-residents on investments in Russia made amid new geopolitical realities applies to investments made since April of this year.

Finance Ministry head Anton Siluanov announced the decision itself on Tuesday at a meeting of the Council on Strategic Development and National Projects.

"In August of this year, a decision was made to pay dividends without restrictions to foreigners who are now investing money in the Russian economy, who are currently investing money. We say - all volumes of investments that will be made in the current year and later, certainly, can be withdrawn in the form of dividends. In the volume of investments made in our economy," Siluanov said.

On Wednesday, the Finance Ministry published the relevant extract from the minutes of the August 9 meeting of the subcommittee of the government commission on monitoring foreign investment. According to the text of the document, the condition for issuing permits for dividend payments to non-residents from unfriendly jurisdictions is that they invest in the Russian economy after April 1, 2023, "including the expansion of production in Russia, the development of new technologies". The amount of dividends must not exceed the volume of such investments.