Criminal Russia: why the anti-mafia's money law will affect the Russians

Why a new English criminal law on finances could affect all of the wealthy citizens.
24.10.2016
Forbes
Origin source
It would seem, well, everything, let alone more, first struck the law on controlled foreign companies; then there were restrictions on foreign exchange of residents; then asked to report to the tax office of their foreign accounts; and, finally, the need to prepare for an automatic information exchange, which virtually destroys all personal financial secrets. But no, on the horizon loomed a new threat, that for the vast majority of wealthy citizens of our country can transcend all the "good" that was done for them so far.

What came up with the British? a new concept, called «unexplained wealth orders» on October 13 in the UK parliament was submitted a draft law on criminal finances, which has been presented. The idea is that if the acquisition source of an asset (real estate, jewelry, automobiles, etc.), the cost of which exceeds £ 100,000, seem suspicious, it may be followed by an appeal to the court with a request to the owner give the necessary explanations. If the submitted documents do not meet the court, the property, or other propertiedGUSTs arrested. It is no secret that England, or rather London is a very attractive place for the rich investment from around the world. Among them there are those who have earned their money by honest means, associated with corruption, criminal offenses.

The scale of this phenomenon is said, for example, the fact that, according to the local registrar - Land Registry property owners in the amount of £ 170 billion are more than 30,000 offshore companies. But the National Crime Agency believes that through the country in a year goes up to £ 100 billion of dirty money, which usually ends up in real estate, luxury cars and expensive jewelry. Local authorities no longer want to put up with this situation and the new law should help them in the fight for the purity of the "series" of the English capital. In London, home to hundreds of thousands of Russians and, of course, that some of them - the most wealthy - could fall under the «unexplained wealth orders».

At risk, and real estate, which was bought by the Russians in the form of investments or alternate "airport" for the future. Many of our compatriots were owners of offshores companies in whose name were bought houses and apartments. Part of them was bought recently, to protect themselves from the automatic exchange of information. People cleaned their bank accounts in the hope that these money will not get the information to the tax authorities. Now, instead of additional taxes can run on the court and it is not excluded that in the confiscation of property.

A strong surge of interest in the British real estate was observed immediately after Brexit - rich Russians, who traditionally keep their money in dollars and euros, felt that had fallen by 25% a pound - an excellent opportunity to buy a little. Why it applies to all? In my view, the threat hangs over not only Russian "British", but almost all the wealthy citizens of Russia, regardless of where they live. Why? Here are the main reasons for England, then everywhere ... It must be admitted that many of the financial innovations originate at the Albion, and then spread to the European continent and eventually become the accepted norm. Thus, for example, it was the case with the automatic exchange of information, the idea of ​​a catorogo belongs to the British and was launched after the 2008 crisis. In 2013, at the next meeting of the G20 leaders was obvyaleno a decision to implement a global mechanism for automatic exchange of information.

In May 2016, our country signed the agreement. So it is possible that the idea of ​​«unexplained wealth orders» will soon be accepted for execution and in other European countries and in Russia. Not necessarily in the same form, but in fact it will also be a new milestone in the fight against dirty money. It is possible that in a year - two many Russians will have to answer questions about the sources of capital, which allowed them to buy, for example, a house in Nice or chalet on Lake Geneva. This can be a real bomb, pohlesche automatic exchange of information. My favorite asset. It is no secret that the Russians prefer to live in a nice property and happily invest in it. Unlike the other options, it is always clear and, until recently, was quite profitable "gesheft".

According to the National Agency for Financial Studies (February, 2016), 60% of Russians perceive as a real estate purchasethe most profitable way of investing money. I am sure that most of these investors little thought about the fact that after 3, 5 or 10 years to their door may knock a tax inspector, or, say, will subpoena the proposal document to show the sources of their investments in the house, otherwise it simply will select . Retrospective verification. The fact that the check on the "purity" of money may be subject to real estate investments that were made many years ago, making them extremely vulnerable.

You simply can not maintain the necessary documents or, for example, you bought a luxury house in Spain, transferring money from an offshore company, which at that time was not one of the normal treaty that would show its activity and sources of income. I'm not talking about expensive homes, for example, in Moscow. As a humble civil servant can prove in court that the mansion on the ruble, he built or bought with his salary, say, in 2012. Any retrospective check on the new rules is dangerous, and in Russia, for obvious reasons, even more so.

prverification of the money, which was acquired property (works of art, jewelery, automobiles) may become a kind of trigger that will open doors in other areas. For example, it can become a topical issue of the initial capital of a big businessman. Some people will wonder what the money in 1993, Mr. Petrov bought an oil company, and Mr. Sidorov in 2001 bought a department store in the city center, etc. etc.

Thus, the broad interpretation of «unexplained wealth orders» could result in our country to a total revision of the old transactions and even cast doubt on the results of privatization. And all this sauce new modern trends in the fight against dirty money. This risk exists and it should be remembered. What to do? purchase history of a property, of course, can not be rewritten. If in doubt, you can always leave risky assets. Perhaps it helps. But all your problems it can not solve. The best way - is to carry out a thorough revision of its capital and arrange it so that he, as closely as possible consistent with the new require-aniyami trends and check the money on the "purity". Such times! According to experts the new English law on criminal finances will become effective with the spring.

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