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According to the new law, companies with the status of small and medium-sized enterprises will have the opportunity to liquidate by submitting just one application. In the application, it will be necessary to confirm that the legal entity has repaid all debts and submitted the necessary reports. Thus, it will…

Lawyers at the St. Petersburg International Legal Forum proposed that the law provide for the possibility of initiating bankruptcy proceedings for foreign companies. Within the framework of entrepreneurial activity, companies from Russia often concluded deals with foreign companies. At the moment, these countries are unfriendly. In case of signs of…

The Tax Inspectorate plans to develop and approve new formats of electronic documents in 2023. They are going to introduce new formats of such documents: a transfer act of fixed assets, an invoice for accounting for the movement of stocks, a complaint act, a specification. The use of these documents…

Since the introduction of the invalidity of transactions with foreign companies from unfriendly countries without obtaining the permission of the subcommision of the Ministry of Finance, the conditions for obtaining such permission are constantly updated, new conditions are introduced, or old ones are changed. Experts also note that when considering…

Currently, cryptocurrencies are becoming more and more popular. They represent a new payment method that has many advantages, including transaction speed and low fees. Their use will contribute to reducing the dependence of economic turnover participants on global financial institutions. Russian legislators are developing a legislative framework for mining digital…

The Ministry of Digital Development has published a draft law on a digital passport, it is planned that the digital version will be equal in legal force to the paper one. This initiative has been repeatedly put forward by various executive authorities, the introduction of this technology has been actively…

Valen Group has been providing services in the UAE for a long time and now we are opening a client office. A cozy space with its own embankment – we are sure that our clients and partners will like it. The main task assigned to this office is legal support…

In April 2023, new features from Russian government agencies will get started, which we will express in more details below. Simplifications by the Federal Tax Service One of the areas that has received a lot of attention in recent years is facilitating the interaction of taxpayers with tax authorities. One…

Payment in the amount of 5% of the market value of the business must be made to the budget by foreign companies from unfriendly countries in the event of the sale of their assets in Russia. Prior to this change, it was necessary to make 10% of the transaction size….

The Federal Notary Chamber notes the growth of transactions made remotely with the participation of two or more notaries. At the beginning of 2023, more remote transactions were made than in the whole of 2021. This notarial action was introduced in 2021 and with its help it is possible to…

The Russian Ministry of Finance has come up with a proposal to suspend double tax treaties as a response to countries that have introduced unilateral economic measures against Russia, as well as to include Russia on the EU tax black list. Double taxation is a situation where income is taxed…

An international joint venture (JV) occurs when two businesses based on two or more countries form a partnership. A company that wants to explore international trade without taking full responsibility for cross-border business operations has the opportunity to create a joint venture with a foreign partner. International investors entering into a joint venture minimize the risk associated with a direct acquisition of a business. In the development of international business, performing due diligence in a foreign country and a partner limits the risks associated with such a business transaction.

Due diligence is an essential component of any financial transaction, especially regarding corporate finance. In a few words, due diligence is a process of conducting a comprehensive investigation, audit or review of a transaction or investment opportunity before finalizing a deal. The goal of due diligence is to identify potential risks and opportunities, as well as to ensure that the parties involved have all the information, they need to make an informed decision. In this article, we will explore the concept of due diligence in more detail, including its definition, the types of due diligence, and its significance for corporate finance and business transactions.

Expanding your business in Russia can be a challenging yet rewarding experience. Russia’s vast territory, rich natural resources, and large population offer many opportunities for foreign investors. However, entering the Russian market requires careful planning, strategic thinking, and knowledge of the local laws and regulations. Two common ways of establishing a presence in Russia are by setting up a branch or a representative office. In this article, we will discuss the main differences and benefits of these two options, as well as the legal requirements and registration process.

Until 2022, the parties to the agreement provided for an arbitration clause, in which they most often chose English law to resolve disputes. In the current situation, for similar purposes, Russian companies most often choose Russian law, and do not so actively apply to Western arbitration institutions, such as the…

The Ministry of Economic Development of Russia stated that representatives of Russia and Iran are interested in increasing the pace of work on creating a regulatory framework for cooperation in the trade sphere. The Russian-Iranian Working Group on Cooperation notes the development in the field of transport and logistics, as…