Asset Protection & Wealth Structuring in Russia:
Counsel for Private Clients with Russian Holdings

For private clients with assets located in Russia or arising from Russian business activity, the legal questions are rarely simple — and rarely confined to a single jurisdiction.

Pravo-300 · 8 years |

Best Lawyers Russia |

Kommersant |

1,000+ matters |

15+ years

Practice
Est. 2009 · Practice No. 07

Who We Act For
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What We Do
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Representative Matters
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The Partner
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The Team & Recognition
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Fees

About This Practice

§ i

The legal structuring of personal wealth with a Russian component requires counsel who understands two things simultaneously: the specific Russian legal instruments available — the personal foundation under Federal Law No. 287-FZ, the special administrative regions (SAR) in Kaliningrad and Vladivostok, the CFC rules under Chapter 3.4 of the Tax Code — and the multi-jurisdictional context in which those instruments sit. A private client with Russian-source wealth and assets distributed across Russia, Switzerland, the UAE, and the UK does not need a Russian tax adviser and an English private wealth adviser working in parallel. They need counsel who has thought through the interaction. At Vetrov & Partners, our private wealth practice addresses the Russian legal dimension of that question — working alongside the client's overseas advisers to provide the Russian-law component of an integrated strategy.

Who We Act For

§ iI

Our private wealth instructions come from HNWI clients with Russian business holdings or Russian-source assets, family office advisers managing portfolios with Russian components, and private banks advising clients on Russian-situated wealth.

Client situations:
You are a family office adviser or wealth manager. Your client has significant assets in Russia — real property, shares in Russian companies, rights to Russian-source income — alongside holdings in other jurisdictions. You need Russian legal counsel to advise on the Russian-law elements of an asset protection structure, including the use of a Russian personal foundation and the interaction with the client's foreign holding arrangements.

You are a private bank relationship manager. Your client is a Russian national or permanent resident with a CFC structure that has become exposed following changes in Russian de-offshorisation policy. You need Russian-qualified counsel to advise on the compliance position, the available restructuring options, and the tax consequences of different approaches.

You are a HNWI client with a Russian business. You are considering relocating to another jurisdiction and need to understand the pre-departure tax and legal steps required in Russia — including the implications for your CFC obligations, your Russian tax residency status, and the treatment of your Russian-situated assets.

You are an individual with a significant shareholding in a Russian company. You have concerns about the protection of your shareholding from external risks — creditors, hostile corporate actions, or a disputed succession — and you wish to understand whether a Russian personal foundation or an alternative structure can provide the protection you are looking for.

You are a STEP practitioner or private client solicitor advising a client with a complex estate that includes Russian-situated assets. You need a Russian-qualified lawyer to advise on the Russian succession law position — including the mandatory share rules, the recognition of foreign trusts, and the interaction between a Russian inheritance and the client's arrangements in other jurisdictions.

What We Do

§ iII

Our private wealth practice is structured around the Russian legal dimension of multi-jurisdictional wealth arrangements. We advise on Russian law; for the non-Russian elements of a client's structure, we work alongside the client's overseas advisers.

The Russian personal foundation (личный фонд) — introduced by Federal Law No. 287-FZ and available since 2022 — is a Russian-law instrument that allows an individual to transfer assets to an inter vivos foundation for the benefit of themselves and designated beneficiaries. The personal foundation provides a degree of asset protection from external creditors, a mechanism for succession planning within a Russian legal framework, and a structure for the management of Russian-situated assets by a professional management body. We advise on the suitability of a personal foundation for a specific client's circumstances, the process for its establishment, and the ongoing governance and compliance requirements

Personal foundations under Federal Law No. 287-FZ

Chapter 3.4 of the Russian Tax Code requires Russian tax residents — individuals and companies — to report and pay tax on undistributed profits of their controlled foreign companies. We advise on CFC status, the calculation of taxable profit, the available exemptions, and the restructuring options available to clients whose structures create unwanted CFC exposure. We also advise on the tax implications of transitioning from a holding structure to a Russian personal foundation.

CFC rules and de-offshorisation

For clients considering departure from Russia — whether to establish tax residency in another jurisdiction or for other reasons — the pre-departure legal and tax steps in Russia are material. We advise on the Russian tax residency rules, the steps required to terminate Russian tax residency, the implications for CFC obligations after departure, and the treatment of Russian-situated assets held during the transition period.

Pre-immigration planning

For clients with Russian real property, Russian company shareholdings, or Russian-source receivables, the protection of those assets from external risks — including creditor claims, hostile corporate actions, and disputed succession — requires specific Russian legal structuring. We advise on the available instruments, including corporate restructuring, security interests, and foundation structures, and on their effectiveness in the specific risk scenarios identified by the client.

Protection of Russian-situated assets

Russian succession law — governed by Part III of the Civil Code — provides for the distribution of a Russian national's estate according to statutory priority rules, with a mandatory share right for certain close relatives that cannot be excluded by testamentary disposition. The recognition of foreign trusts in Russia is limited; a foreign trust holding Russian-situated assets does not have a direct equivalent in Russian law, and the interaction between the trust and the Russian estate requires careful analysis. We advise on Russian succession planning in the context of multi-jurisdictional estates and on the Russian-law implications of testamentary and inter vivos arrangements made in other jurisdictions.

Russian succession planning

Our practice is designed to complement, not replace, the client's overseas private wealth advisers. We provide the Russian-law component of an integrated multi-jurisdictional structure and work within a framework established by the client's lead adviser — whether that is a private bank, a family office, a STEP practitioner, or an overseas law firm.

Coordination with overseas private wealth advisers

By the Numbers

§ IV

1,000+

Instructions accepted
Since 2009. Across six practices and 30+ Russian regions

15+

Years in practice
Founded 2009. The same one managing partner and three senior lawyers leading practices throughout

8

Years in Pravo-300
Russia's principal legal directory, ranked annually

< 2 hrs

First response
Mon–Fri 09:00–20:00, Sat 10:00–15:00 (UTC+7)

Representative Matters

§ V

All matters anonymised. Discretion is fundamental to this practice — matter descriptions are provided only at the level of generality that our clients authorise.

Advised on establishment of personal foundation under Federal Law No. 287-FZ for client with Russian-situated business assets. Advised on asset transfer process and governance structure.

HNWI · personal foundation establishment · Russian-situated assets

Advised family office on CFC compliance position for client with multiple CFCs. Advised on restructuring options and exemption eligibility. Restructuring completed without triggering unwanted tax events.

Family office · CFC compliance · restructuring advisory

Advised on Russian pre-departure legal and tax steps for client relocating to Western Europe. Advised on CFC implications, Russian tax residency termination, and treatment of Russian-situated assets.

Private client · pre-immigration planning · Russia departure

Acted as Russian-law counsel alongside STEP practitioner on succession matter involving Russian-situated real property and company shareholding. Advised on mandatory share position and recognition of testamentary arrangements.

STEP practitioner referral · Russian succession · multi-jurisdictional estate

Advised private bank on Russian-law structuring options for client with Russian real property holdings. Provided legal opinion on personal foundation as asset protection instrument.

Foreign private bank · Russian client · asset protection structuring

"The clients we advise best in private wealth matters arrive before a specific event has occurred — before a creditor has become active, before a succession dispute has begun, before a departure triggers unintended tax consequences. Structuring for protection is less costly than restructuring after the fact. We are available for an initial conversation at any stage."

info@vetrovpartners.com
+7 (983) 510-38-76
Response: under 2 hours (Mon–Fri 09:00–20:00, Sat 10:00–15:00 UTC+7)

Discuss your matter in confidence

The Partner

§ VI

Kristina Kornouhova, Senior Lawyer

Kristina Kornouhova leads Vetrov & Partners' private wealth and asset protection practice, advising HNWI clients, family offices, and private banks on the Russian legal dimension of wealth structuring, CFC compliance, pre-immigration planning, and succession arrangements. She advises on the establishment and governance of Russian personal foundations under Federal Law No. 287-FZ and on the interaction between Russian tax law and multi-jurisdictional holding structures.

Her work in this practice includes CFC restructuring advisory for clients seeking to reduce their Russian CFC exposure, Russian succession planning in the context of estates that include both Russian and foreign-situated assets, and Russian-law opinions provided to overseas private wealth advisers in support of cross-border structuring transactions.

We advise foreign groups through their local tax counsel, providing Russian law strategy in matters where the client's primary advisers are based outside Russia.

Full profile at →

Recognised by Pravo-300 · Listed in Best Lawyers Russia

The Team

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David Glikshteyn

Associate · Private Wealth & Tax

Focuses on CFC compliance advisory and personal foundation governance matters.
Elena Mironova

Associate · Succession & Structuring

Assists on succession planning matters and Russian-law elements of multi-jurisdictional structuring transactions.

FULL TEAM AT

Recognition

§ VIII

Pravo-300
(Russia's principal legal directory)

Recognised in Private Client, 8 consecutive years

Best
Lawyers in Russia

Tax Law / Private Client, multiple years

Kommersant
Legal Rating

Featured annually

Delovoy Kvartal
(Деловой Квартал)

Recognised

Rossiyskaya Gazeta (Российская газета)

Featured

We are a Russian-qualified law firm. Our recognition is from Russian legal directories. We do not hold rankings from Chambers Global or Legal 500 in this practice area.

How We Work

§ IХ

Every engagement begins with a short description of your situation sent to one person, who reads it the same day.

The first step costs you three paragraphs and nothing else.

We close with a written note on the Russian-law position as implemented and any ongoing compliance or monitoring requirements.

Step 5 · Matter close

The practice lead manages the Russian-law elements of the engagement. We maintain strict confidentiality in all external communications and operate under a communication protocol agreed with the client and their overseas advisers.

Step 4 · Execution

Written scope, including an assessment of the Russian-law options and a phase-by-phase cost estimate. For matters involving legal opinions for overseas advisers, the scope includes the deliverable format and the timeline.

Step 3 · Written scope

A complimentary thirty-minute call with the practice lead. For private wealth matters, the first call is specifically designed to establish the scope of the Russian-law question and to understand the role of the client's overseas advisers — so that our engagement is complementary rather than duplicative.

Step 2 · Complimentary call

Send us three paragraphs describing the Russian element of the structuring question — the nature of the Russian assets, the client's current Russian tax residency status, and the primary objective (asset protection, succession, pre-immigration, or compliance). We will respond within two hours with an initial assessment.

Step 1 · Initial enquiry

Fees

§ Х

Hourly billing for advisory and opinion work. Fixed-fee arrangements for defined deliverables — personal foundation establishment, CFC compliance assessment, Russian succession law opinions. We invoice in EUR or USD. Fee estimate provided within twenty-four hours.

Questions

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Last reviewed: May 2026

Related Practices

§ ХII

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Asset Protection & Wealth Structuring

Restructuring & Insolvency

Tax Controversy

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Asset Protection & Wealth Structuring in Russia: Counsel for Private Clients with Russian Holdings

For private clients with assets located in Russia or arising from Russian business activity, the legal questions are rarely simple — and rarely confined to a single jurisdiction.

Asset Protection & Wealth Structuring in Russia:
Counsel for Private Clients with Russian Holdings