Russia (RU)

Jurisdiction Overview

IDQuestionAnswer
204 *Are Trusts available? ONLY FOREIGN: Foreign law trusts can be administered, but no domestic trust law.
 Data Date: 2019

Notes

 
"With the exception of regulated investment unit trusts (IUTs), it is not possible to establish trusts under Russian law, however there are no restrictions on persons in Russia acting as a trustee or providing other services to trusts created under foreign law" (GF 2014: 44). The FATF reports adds: "the concept of 'fiduciary management' exists in Russia, but this differs from the traditional legal concept of trusts as property rights are not ceded to the fiduciary manager" (FATF 2008: 149).

Sources

http://www.step.org/jr-russia
 
GF 2012: 33; FATF 2008: 149; GF 2014: 44