Trusts and beneficiary ownership concept in Russian law and practice

This article outlines the regulatory landscape of the use of trusts by Russian residents and the implementation of the concept of beneficial ownership by the Russian legal system. The researcher describes an attempt to introduce trusts into the Russian legal system. The article also deals with trusts created by Russian residents abroad. In addition, the approaches of the Russian courts to the beneficial ownership concept, in the context of trusts and offshore companies are also discussed. The author analyses a number of cases which shed light on the issue of recognition of beneficiary owners' rights in Russia.