FOREIGN LEGAL ENTITIES COULD BE ENTITLED TO OBTAIN LICENSES, A RELEVANT DRAFT LAW IS UNDER CONSIDERATION

29/05/2020

The Ministry of Economic Development has initiated amendments to the Federal Law No 99-FZ “On Licensing of Certain Types of Activities” dated 04.05.2011. The draft includes foreign legal entities into the list of possible licensees, provided relevant amendments are included into regulations for each respective activity.

To obtain a license, a foreign legal entity will need to submit an application stating, among other things, information about its name, the name of its branch and its address, and the number of the record in the state registry on accreditation of the branch. The termination of the accreditation of a branch of a foreign legal entity is to be added as a basis for termination of the license.

The public discussion of the amendments’ draft should be ended by June 10.

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This document provides general information on the subject and does not constitute a legal opinion or recommendation. Consulting a specialist is recommended before taking an action. No claim arising from the content of or relating to this document can be asserted against NAZALI.

Agenda

FOREIGN LEGAL ENTITIES COULD BE ENTITLED TO OBTAIN LICENSES, A RELEVANT DRAFT LAW IS UNDER CONSIDERATION

This document provides general information on the subject and does not constitute a legal opinion or recommendation. Consulting a specialist is recommended before taking an action. No claim arising from the content of or relating to this document can be asserted against NAZALI.