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The Financial Countries Transfer System (SPFS) was developed by the Central Bank of the Russian Federation in 2014 and operates according to international payment standards. A foreign business intending to work in Russia is already joining the SPFS. Now the issue of using SPFS is especially relevant due to the…

The Ministry of Internal Affairs and the Ministry of Labor have prepared a draft law, according to which foreign IT specialists will be able to issue a residence permit in a simplified manner. In accordance with this document, a temporary residence permit will not be required to obtain a residence…

The Eurasian Union on March 17, 2022, by decision No. 35, increased the maximum threshold at which goods purchased in foreign online stores will not be subject to duty. The procedure comes into force on May 01. The new rules for the import of goods are temporary and will be…

In March 2022, laws were passed that change the requirements for obtaining the status of an international company and an international holding company. The changes are as follows: 1) New criteria for granting a foreign company the opportunity to redomicile in the Russian Federation. Companies registered before 01.03.2022 will be…

This year, the President of the Russian Federation issued two decrees No. 79 and 95, which are aimed at maintaining the competitiveness of Russian business in the foreign market under sanctions. The Central Bank of the Russian Federation studied details of it and gave explanations. – Russian business is obliged…

The concept of a currency resident is found in Russian legislation much less frequently than the term tax resident. Few people distinguish between these concepts, but each of these statuses has its own nuances. We will talk about the fundamental differences in this article. The term currency resident is mentioned…

В частности, они: • Обязаны уведомлять налоговые органы об открытии расчетных счетов в иностранных банках; • Должны предоставить отчет о движении денежных средств в иностранных банках; Стоит отметить, что валютные резиденты имеют право пополнения иностранного счета только в рамках закрытого перечня операций: – перевода денежных средств с российских счетов на…

A ban on the initiation of bankruptcy cases on the applications of creditors is being re-introduced. The moratorium on bankruptcy is valid from April 1 to October 2022, the Government reported at a meeting. During this period, creditors cannot apply to the court for bankruptcy of a legal entity, citizen…

The Government has issued a draft law, the purpose of which is to enable highly qualified specialists (HQS) to obtain a residence permit in the Russian Federation without limitation of validity. The bill says that a foreign specialist who intends to obtain a residence permit must have more than two…

Europeans will not be deported from Russia as a retaliatory visa measure, a representative of the Russian Foreign Ministry says. The decree on retaliatory visa measures will not affect the majority of European citizens living in Russia. Earlier it was reported that the Russian authorities are considering the introduction of…

The Russian government has decided to remove restrictions on the sale of real estate in the territory of the Russian Federation by non-residents from “unfriendly” countries. These restrictions led to the suspension of financing from banks, because the approval of a special commission was required to conclude a contract for…

During 2022, the business will be exempt from almost all inspections, including scheduled ones. Unscheduled inspections will be carried out in extreme cases at a few facilities in the field of fire, medical and bacteriological control. It provides for the possibility of unscheduled inspections only after the approval of the…

The Mayor of Moscow announced the abolition of the mandatory wearing of masks and restrictions in the field of business from March 15. This decree of the mayor is posted on the official website. The epidemiological situation in the capital has stabilized, which allows us to approve the corresponding decision…

Several Russian banks will be banned from the SWIFT payment system. This will not affect those financial companies that are not subject to EU and US sanctions. We give a list of them below: 1. Tinkoff 2. Raiffeisenbank 3. Rosbank 4. Unicredit Bank 5. Citi Bank 6. Regional Development Bank…

The Cabinet of Ministers offered foreign business three options for interaction with foreign business in a situation of mass withdrawal from the Russian market. One of the options is an accelerated bankruptcy procedure against a company that ceases operations and dismisses employees. The Government of the Russian Federation has offered…

New financial restrictions of the European Union and the United States as disabling SWIFT will affect large Russian banks, such as: Sovcombank, VTB, Promsvyazbank, Otkritie, Novikombank, VEB, Russia.  SWIFT is the largest international banking system uniting over 11,000 financial institutions in over 200 countries. Russia is in 5th place on…