Published on: 2026-09-24
Source: Central Bank of Russia – Central Bank of Russia –
An important disclaimer is at the bottom of this article.
1. Study the necessary federal laws and regulations
2. Check compliance with the established licensing terms by paragraph 3 of Article 60.1 of the Federal Law of 29.11.2001 No. 156-FZ, including compliance persons performing the functions of a controller (head of the internal control service) or an employee of the internal control service (persons planning to perform the specified functions) with qualification requirements and requirements for business reputation.
For conducting the verification, we recommend using:
3. Prepare the documents for obtaining a license (in accordance with paragraph 1.5 of the Bank of Russia Regulation dated 29.06.2022 No. 798-P)
4. Pay the state fee for consideration of the application for granting a license to the management company 35,000 ₽the amount of the state fee for considering an application for granting a license to a management company.
The budget classification code (BCC) that must be used when paying the fee is — 99910807081010300110.
You can fill out and generate the payment document using “Payment order builders.”
In the event that the Bank of Russia decides to refuse the provision of a license to the management company, the amount of the state fee paid non-refundable.
5. Submit a set of documents to the Bank of Russia to obtain a management company license.
** The regulator may issue a request for the submission of documents if violations of the requirements for their formatting and/or content have been identified (clause 3.2 of Regulation No. 798-P). The license applicant is obligated to provide corrected documents within the timeframe specified in the request. The review period for these documents is 2 months from the date of their submission to the Bank of Russia.
A request is also sent if a discrepancy is detected between the information contained in the submitted documents and the information obtained during verification activities and/or the data available to the Bank of Russia (clause 3.8 of Regulation No. 798-P). In such a case, the Bank of Russia sends the license applicant a request for the submission of additional documents, which must be provided within the deadline specified in the request. At the same time, the period for reviewing the documents is suspended and continues to be calculated from the day the requested documents are submitted to the Bank of Russia.
In case the applicant fails to submit documents in accordance with the requests of the Bank of Russia within the established period, the consideration of the documents is terminated (Clause 3.9 of Regulation No. 798-P).
6. Prepare for inspection activities
The Bank of Russia, no later than the end of the document review period, conducts verification activities in relation to the license applicant at the address within the location specified in the Unified State Register of Legal Entities (USRLE), and/or at the address in the territory of the Russian Federation where the license applicant plans to carry out the activities of the management company, to establish the accuracy of the information contained in the documents submitted for obtaining the license, as well as to establish the compliance of the license applicant with licensing conditions.
A notification of the planned inspection activities is sent to the license applicant no later than 1 business day before the start date of the inspection activities. During their conduct, employees of the Bank of Russia must:
- inspect the premises,
- request documents verifying the accuracy of the information contained in the submitted documents, as well as oral and/or written explanations.
The submission of documents by the license applicant, as well as written explanations, is formalized by a transfer-acceptance act (one copy is given to the license applicant).
7. Await the decision of the Bank of Russia
Decision on granting a license (denial of a license) to the management company – 2 months (from the date of receipt of all necessary documents from the license applicant).
When the Bank of Russia makes a decision, the license applicant is sent notification of the decision made.
Furthermore, in the event that the Bank of Russia decides to grant a license to the management company, information about the granted license is posted on the regulator’s website in the sections: “Decisions of the Bank of Russia regarding participants in the financial market” or “Insider Information of the Bank of Russia“, as well as information about the organization, are entered into registry of management companies’ licenses and financial market participants directory.
Attention! After obtaining a license, the management company must, in accordance with the requirements of the Bank of Russia Regulation No. 622-P dated 26.12.2017, submit the following within fifteen working days from the date the Bank of Russia’s decision to grant the license to the management company is made:
- statement on the posting on the official website of the Bank of Russia of information about the structure and composition of shareholders (participants) of the management company, including persons under whose control or significant influence the management company is located;
- list shareholders (participants) of the management company and persons controlling or having significant influence over the management company;
- scheme interrelations of shareholders (participants) management company and persons who control or have significant influence over the management company (Annex No. 11 to the Regulation of the Bank of Russia dated December 26, 2017 No. 622-P).
The application for posting on the official website of the Bank of Russia and the documents attached to it must be submitted by means of personal account of the information exchange participant using the on-screen form “3010 Ownership Structure”.
In accordance with the requirements of the Regulation of the Bank of Russia dated 27.12.2017 No. 625-P, the management company is obliged (if there are candidates for positions) within 3 working days from the date of the decision on the appointment (election) of a candidate to the position to send a notification of his appointment to the Bank of Russia.
The notice and the documents attached to it must be sent by personal account of the information exchange participant using the screen form “1220 Candidate Appointment/Release.”
Please note; This information is raw content obtained directly from the source. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.