MOSCOW, April 28 Russian President Vladimir Putin signed a law on the right of religious organizations and legal entities created by them not to inform Rosfinmonitoring about their beneficiaries. The document is published on the official portal of legal information.
The law exempts religious organizations, as well as legal entities in which they are the sole founders (participants), producing or selling religious items and religious literature, from the obligation to collect, store and provide information about their beneficial owners.
At the same time, the obligation of financial organizations that carry out transactions with funds or other property of such persons to take measures to identify their beneficial owners is also excluded. This is due to the fact that often the criteria for beneficial ownership are not applicable to religious organizations.
The law comes into force from the day of its official publication.