An updated list of countries that automatically exchange information with Russia has been approved

An updated list of countries that automatically exchange information with Russia has been approved

07 December 2022

Dear Ladies and Gentlemen!

On 5 December 2022 the Order “On the Approval of the List of States (Territories) That Automatically Exchange Financial Information” (the “Order”) was published.

The Order will come into force on 16 December 2022.

It means that individuals holding Swiss accounts should reconsider the use of such accounts in order to avoid transactions that violate the currency control regulations of the Russian Federation.

To learn more about the details of the changes, the impact of the updated regulation on transactions with accounts opened by individuals in countries which do not automatically exchange financial information with Russia, and possible strategies please see newsletter.

ALRUD experts have vast experience in supporting clients with currency control compliance issues and will be glad to analyse your situation and develop an action plan that takes into account the latest legal requirements and helps to meet your needs.

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Notice: Please note that all information was taken from public sources. The author of this letter is not responsible for any consequences resulting from your decisions based on this information.


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Note: Please be aware that all information provided in this letter was taken from open sources. Neither ALRUD Law Firm, nor the author of this letter bear any liability for consequences of any decisions made in reliance upon this information.

Sincerely,
ALRUD Law Firm

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