A conversation with Maxim Boulba, Partner, and Elena Andrianova from the Moscow office of international law firm CMS International B.V. key issues on foreign direct investment (FDI) control in Russia.
1. What is the applicable legislation?
The core legal acts in Russia in the area of foreign investment control are as follows:
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Federal Law No. 160-FZ ‘On Foreign Investments in the Russian Federation’ dated 9 July 1999 (the Foreign Investments Law), and
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Federal Law No. 57-FZ ‘On Procedures of Foreign Investment in Companies of Strategic Significance for National Defence and Security of the Russian Federation’ dated 29 April 2008 (the Strategic Law).
Furthermore, in 2022 a set of, so called, ‘countersanctions’ regulations have been introduced in Russia that imposes additional requirements on transactions involving foreign investors (these regulations are mainly formalised by Decrees of the Russian President and Government). The Strategic Law provides for strict regulation of all transactions and agreements involving the participation of foreign investors in Russian entities involved in sectors which are deemed to be of strategic importance for state defence and national security
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Jurisdiction(s):
United Kingdom
Key definition:
Investment definition
What does Investment mean?
An investment will typically mean any type of property or interest held within the territory of the host state. This will often extend far beyond 'obvious' property, such as real estate or shares in a local company, to (depending upon the circumstances) other interests such as rights under a contract, intellectual property rights and private loans. As with the concept of 'investor,' in the modern commercial world what does and does not qualify as investment can be a complex question. The definition of 'investment' will vary between BITs.
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