Blog

Permanent residence permit is unlimited document which entitles foreign citizen to live and work in Russia. An adult or a child who has obtained PRP does not become Russian citizen, but he/she can study, work, do business, move from region to region without any restrictions. Moreover, obtaining PRP is a mandatory requirement to get Russian citizenship, thus PRP is usually obtained by those foreign citizens who want to link their future with Russia.

Russian law provides for several types of companies’ activity termination. A legal entity may be wound up by decision of its participants or the court. In the first case, company ceases to exist in connection with the expiration of the period for which the enterprise was created, or in connection with the achievement of the purpose of its operation. For example, if a company was created to implement a construction project, after putting the facility into operation, the company may officially cease to exist.

Russian laws define citizenship as a stable legal relationship between a person and the state. This relationship is represented by the sum of mutual rights and obligations that arise between citizen and the Russian Federation. Most of these rights and obligations are provided for by the Constitution.

All commercial entities including small and medium sized companies and sole proprietors are obliged to do bookkeeping. However, bookkeeping under simplified tax system has some peculiarities. Although it is easier in comparison with the requirements for companies applying general tax system, some mistakes may lead to penalties and other sanctions imposed by authorities.

Often it is almost impossible to protect violated rights without the intervention of law enforcement bodies. That is why the legislators have provided several ways to protect the interests of individuals and organizations, the main of which is applying to court for the protection of their rights.

A company may be deemed to have been dissolved and ceased to exist only after it has been recorded in the registry. Thus, the final stage of liquidation of any enterprise is the state registration of the liquidation of the legal entity. Without an entry in the register, the company cannot cease to exist, relevant changes are made by the Federal Tax Service or the Registration Centre.

The official winding up of a legal entity is a difficult procedure which takes time and requires concerted actions of a huge number of professionals. First of all, executive bodies inform about the beginning of the procedure through the media, then they appoint a commission and draw up an interim balance. Once the debts are settled, the companies approve the final balance. It is also necessary to fire the employees, pay salaries and compensation to employees – and this is not the complete list of actions.

Today legal entities while carrying out it’s business activities, often face not only conflict situations with contractors, partners and competitors but also disputes within one organization. Such disputes are one of the most widespread in the companies’ sphere of activity and is called corporate disputes.

2025 will bring significant changes to the migration legislation of Russia, significantly changing the rules of stay for foreign citizens. Reduction of the visa-free period One of the most noticeable changes is a twofold reduction in the maximum period of visa-free stay of foreigners in Russia – to 90 days…

When entering the Russian market, foreign companies are faced with a choice between setting up a limited liability company (LLC) or opening a representative office. Each option has its advantages and disadvantages, and the choice depends on the specific needs and goals of the company. What is an LLC? An…

Navigating corporate governance Russia is a critical endeavor for any foreign business looking to thrive in one of the most complex regulatory environments in the world. The intricacies of corporate compliance Russia can be daunting, but it’s not an impossible task if approached with the right mindset and guidance.

Understanding the Russian tax system is not just about crunching numbers — it’s about deciphering a complex yet navigable framework that has evolved to accommodate both local and international business interests. The Russian tax system comprises federal, regional, and local taxes, each with its distinct nuances.

Entering the Russian market can be a lucrative opportunity, but it’s crucial to understand the importance of protecting your intellectual property (IP) in this unique environment. Valen Legal, a leading law firm specializing in IP and business law, helps foreign companies navigate the complexities of intellectual property Russia, ensuring that their trademarks, patents, and copyrights are securely protected. This guide will walk you through the essential steps to safeguard your assets.

In the digital age, data privacy has become a significant concern for businesses operating across borders. With the rise of data breaches, cyber threats, and the increasing focus on consumer rights, understanding and complying with data protection regulations is crucial for international companies doing business in Russia.

In recent years, digital currencies have been gaining popularity not only among investors, but also as a means of payment. In response to the growing interest in cryptocurrencies and to streamline their use, the Russian State Duma passed a law on taxation of digital currency, which was an important step…

We have been working with Kazakhstan since 2018. Long before it became a trend, we started providing a full range of services to clients in Kazakhstan since 2018. From that moment, we have built up our presence and gained a deep understanding of the local market and legal system. Since…