Liquidation of legal entity in 2020

A commercial company is considered as operational one until a record of the termination of its existence appears in the state register. But for the authorities to make changes to the registry, you need to go through a multi-stage procedure, which requires strict compliance with the law. The slightest violations…

Apr, 02 2020
VALEN – finance outsourcing

During this difficult period, we direct our efforts on getting tax breaks for your business, loans deferrals and reducing costs thanks to which you will maintain your market status. Our team has a financial outsourcing department, which will help to overcome today’s crisis remotely, without a full-time accountant. This will…

Apr, 01 2020
Coronavirus in Russia – March 31 updates

Due to COVID-19 dissemination in Russia, we present you the most recent updates on business and law: General Starting March 30, all residents must stay in home self-isolation. Exceptions: going to the grocery, pharmacy, work, etc; Food delivery services will continue to work, couriers will be granted special permissions; Starting…

Mar, 31 2020
Voluntary liquidation of legal entity

Russian legislation provides a special procedure for the final termination of commercial activity, without transfer of rights and obligations. Each stage of legal entity’s termination is regulated by law. In case of law violation, the procedure may be delayed for a long time or come to a standstill, which is…

Mar, 27 2020
Non-judicial liquidation of a legal entity

The procedure for the termination of the company is regulated by law at each stage. Not only the owners of the company can dissolve a company: this process can also be initiated through a judicial proceeding. However, for any company, non-judicial liquidation of a legal entity is the best outcome,…

Mar, 27 2020
Administrative liquidation of a legal entity

Administrative liquidation of a legal entity is a multi-stage procedure that is performed by decision of a tax authority. It is regulated by the legislation of the Russian Federation, violation of which may lead to refusal on company’s termination. There is a large number of companies that have actually stopped…

Mar, 27 2020
Registration of individual entrepreneur in Russia by non-resident

Non-resident is an individual who lives in the country for at least 183 days a year but is not a citizen. As a rule, these are foreigners, sometimes we are talking about stateless people. The basic law that governs the activities of non-residents is Federal law «Concerning the Legal Status…

Mar, 27 2020
Registration of individual entrepreneur in Russia

Individual entrepreneur (IE) registration in Russia passes through several, each of which is regulated by law. Not only Russian citizen may become an IE, but also a foreigner who has legal grounds for living in the Russian Federation. A visa is not enough for IE registration, but it is possible…

Mar, 27 2020
International tax planning

International tax planning helps to avoid tax payments to the state budget or to reduce their amount within the scope of law. These actions consist in the rational organization and conduct of business, so that there is no need to pay additional fees and taxes. Budget payments should be planned…

Mar, 27 2020
Vladimir Putin proposed a set of anti-crisis measures because of coronavirus

In regard to the spread of coronavirus in Russia, the head of state presented additional measures to support citizens and businesses during the crisis: Extra weekend – The week from March 28 to April 5 was officially declared non-working with the wage maintenance. Business support – Extend loans for businesses…

Mar, 26 2020
Coronavirus in Russia – actual news on March, 25

In the light of COVID-19 dissemination in Russia, we present you the most relevant news in sphere of business and law: Tax benefits Tax and customs on-site check-ups of business are canceled until May 1, 2020. Three-month delay in payment of insurance premiums has been announced for small and medium-sized…

Mar, 25 2020
Fulfillment of contractual obligations during pandemic

Currently, it becomes more difficult to fulfill obligations undertaken earlier. Art. 416 of the Civil Code of the Russian Federation states that an obligation is terminated by the impossibility of fulfillment if it is caused by a circumstance arisen after the occurrence of the obligation, for which neither of the…

Mar, 25 2020
Transfer of employees to remote work in accordance with labor legislation

During the declared COVID-19 pandemic, one of the most important tasks for a business executive is a transfer of employees to remote work. In this regard, the issue of finding a best way to organize this transfer without violating the provisions of the labor law arises. In most cases, an…

Mar, 24 2020
VALEN Legal Help during Coronavirus times

The impact of coronavirus on business in Russia: how you can avoid negative consequences as much as possible? The restrictions and support measures of the Government are aimed at preventing the spread of infection, as well as reducing negative consequences for business. These measures include the following innovations: In order…

Mar, 20 2020
Russia temporarily seals borders due to coronavirus

A day earlier Russian Prime Minister informed heads of state that in order to ensure security and curb the spread of coronavirus, it was decided from 00:00 on March 18 to temporarily restrict entry to the territory of the Russian Federation for foreign citizens and stateless persons. Currently, restriction will…

Mar, 17 2020
Currency transactions will be simplified for exporters

The Parliament has adopted a draft law in first reading extending the list of cases when residents will have right not to transfer currency to their bank accounts by setting off counterclaims for liabilities arising out from foreign trade agreements or contracts. Setting off counterclaims occurs when liability is settled…

Mar, 11 2020