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The Federal Tax Service (FTS) of Russia has proposed an important initiative that could significantly change the rules for businesses. As part of a new draft order, it is planned to exclude mass registration at address as a basis for verifying the accuracy of information about companies included in the…
In the context of 2024, Russian companies are facing increasing requirements for compliance with the law. Taking into account changes in the rules of inspections, new requirements for document management and stricter controls, competent preparation for checkup becomes the key to stable operation of the company. Let’s look at the…
In 2024, the employment of foreign nationals in Russia is regulated by strict rules. For legal employment, a foreign citizen (including stateless persons) must obtain a work permit (WP). Certain categories are exempt, which we’ll discuss below. Obtaining a WP is a multi-step process, with most of the responsibilities falling…
A joint venture represents a distinct business arrangement in which two or more parties collaborate to achieve a common objective, pooling resources and expertise while maintaining their independent identities. Despite its collaborative essence, one might wonder: is a joint venture a partnership? The answer lies in understanding the nuances that differentiate these two entities.
The world of business is a labyrinthine dance of partnerships, alliances, and strategic maneuvers. Enter the LLC joint venture, a riveting blend of commercial cunning and collective ambition, designed to empower enterprises that aspire to scale the heights of success without succumbing to the burdens of permanent entanglement.
In the labyrinthine world of entrepreneurship, one question looms large over aspiring business magnates: Should I register as an LLC? This seemingly straightforward inquiry harbors profound implications for your business strategy, financial architecture, and personal liability exposure.
The legislative approval for using cryptocurrencies in foreign trade (FT), which came into effect in August 2024 as part of an experimental legal framework, opens new opportunities for businesses. How do Russian exporters use cryptocurrencies? Due to their decentralized nature and independence from traditional financial institutions, cryptocurrencies have become an…
Currently, Russian companies are not required to repatriate foreign currency profits earned under foreign trade contracts to Russia. This revenue can be used by Russian businesses, including for offsetting claims with foreign counterparties. Legislation and courts now allow such offsetting for most claims. When Is Offsetting Allowed in Foreign Trade…
Opening a company for trading through marketplaces is a process that requires a careful approach and knowledge of the law. It includes several stages, starting with the choice of an organizational and legal form and ending with registration with the tax service. Step-by-step instructions will help to understand the nuances…
Investing in Russia presents a plethora of opportunities for foreign entrepreneurs and investors, driven by the country’s abundant natural resources, a burgeoning consumer market, and a strategic geographical location that bridges Europe and Asia.
When embarking on the journey of establishing a limited liability company (LLC), one of the first questions budding entrepreneurs ask is: how long does it take to set up a llc? The answer, much like any great business venture, is nuanced.
An LLC Operating Agreement is like the unsung hero in the LLC universe — working behind the scenes, ensuring that the business runs smoothly without much fanfare. In essence, it’s the document that dictates how the Limited Liability Company (LLC) is governed, laying down the law for internal processes, financial distributions, and, most critically, ownership rights.
Who is currently investing in Russia The main investors to the Russian market are companies from Middle East (Turkey, UAE, Oman), Asia (Hong Kong, China) and CIS countries (Armenia, Kazakhstan, Belarus, Kyrgyzstan). Often these are international divisions of Russian businesses, which were replaced by European firms with organizations from friendly…
A new service is available on the portal of state services (Gosuslugi) in the feedback section, which allows companies and individual entrepreneurs to address regional government authorities on their current problems. Responses from regional structures will be provided as soon as possible – depending on the complexity of the issue,…
