11 July 2019
Capital transferring to foreign jurisdictions: risk of criminal proceedings in Russia

The Russian media is increasingly aware of the news about the initiation of criminal prosecution by enforcement agencies against the top management of large companies due to the qualification of their actions of transferring capital to foreign jurisdictions as illegal (especially in countries with special conditions for doing business for foreign companies).

More often, crimes are committed by making a deal with a related foreign company and are formalized as foreign economic contracts. At the same time, despite the production of payment under the contract to the account of a company, that is not a tax resident of the Russian Federation; the terms of the contract are not fully executed or not executed at all. Coming into force of such actions gives the law enforcement authorities a reason to initiate criminal proceedings on several elements of crimes provided by the current legislation.

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