Regulatory Alerts2023-06-05 | 3252-3Added · Updated
Explanation regarding the Decision on Amendments and Additions to the Regulation on the Procedure and Conditions for Licensing Banking Activities
Registered on June 5, 2023, under No. 3252-3, this explanation outlines amendments partially lifting restrictions on non-residents purchasing shares of domestic banks listed on foreign stock markets. Legal entities and individuals registered or residing in jurisdictions with preferential tax regimes or without beneficial owner disclosure requirements are permitted to become bank founders and shareholders. The changes also exempt buyers from submitting data confirming fund immobility through financial organizations controlled by authorized bodies of such jurisdictions when acquiring shares via foreign stock markets, while updating references to the Ministry of Economy and Finance.
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