Blog

Issuance of electronic visas to foreign citizens has been suspended

The Ministry of Foreign Affairs of the Russian Federation has declared that issuance of electronic visas for foreign citizens has been suspended due to the spread of coronavirus infection. It was earlier reported that issuance of electronic visas would have begun on January 1, 2021. The new procedure of issuing…

Jan, 13 2021
FTS clarified the rules for providing information about beneficiaries

With the appearance of the Law on Combating Money Laundering and the Financing of Terrorism, each legal entity is obliged to provide information about its beneficial owners * at the request of the authorized body (Financial Intelligence Unit) or tax authorities. * Beneficial owner is an individual who directly or…

Dec, 23 2020
The permission documents of foreign citizens will be valid without prolongation until June 15, 2021.

The Decree of the Russian President dd. December 15, 2020 No. 791 on the extension of validity period of all permission documents for foreign citizens during a pandemic has been recently published. Thus, the term has been extended until June 15, 2021. The decree also provides that the extension of…

Dec, 18 2020
Legislation on legal entities will be amended in the field of reorganization procedure

The Ministry of economic development of the Russian Federation has taken initiative to amend the Federal laws on joint-stock companies (JSC) and limited liability companies (LLC) in order to fix in these legislative acts the provision on reorganization of business entities with simultaneous combination of its various forms. It should…

Dec, 16 2020
Make an invitation for visa to Russia

Making an invitation for a Russian visa is a rather time-consuming procedure that requires preparation. If you are planning to make an invitation for visa to Russia to a business partner, friend or relative, first you need to determine exactly the following: time of the trip; where the foreigner will…

Dec, 09 2020
The procedure of extending permanent residence permits of highly qualified specialists has been cancelled

Previous version of migration legislation provided for the possibility of extending permanent residence permit (PRP) of highly qualified specialists (HQS). Meanwhile, there was no need to go through the entire procedure of PRP obtaining once again. It was enough to submit a corresponding application to the migration authority. However, in…

Dec, 09 2020
Temporary residence permit policy in Russia

Foreign citizens who want to stay in Russia on permanent basis need to obtain temporary residence permit (TRP). This document allows to stay in the country for three years, but in most cases TRP policy is issued for the purpose of obtaining permanent residence permit (PRP) in future. The thing…

Dec, 08 2020
Review of the Russian law on Personal Data

Given the global digitalization and personal data protection, we would like to bring to your attention the main aspects of the Russian Law on Personal Data which any foreign business operating in Russia should take into consideration. What do foreign entrepreneurs need to know? “Localization” of data bases What does…

Dec, 02 2020
The Parliament adopted the law on remote work

During pandemic, a growing number of companies are forced to transfer employees to remote work. This led to a lot of misunderstandings arisen in the relationship between employer and employee. To clarify the situation, the Parliament members adopted in the third reading amendments to the Labor Code regulating remote work….

Dec, 02 2020
Foreign citizens will be entitled to obtain permanent residence permit in Russia for investments

The Ministry of economic development has taken the initiative to grant permanent residence permit to those foreign citizens who are willing to invest in the economy of the Russian Federation. Foreigners will be able to obtain permanent residence permit in Russia in simplified manner if certain legislative requirements are complied…

Nov, 25 2020
The oversight over operations on foreign e-wallets is planned to be tightened

A draft law that will tighten control over foreign electronic wallets of Russian citizens has been introduced to the State Duma. What amendments does the daft law provide for? operations on foreign e-wallets will be equaled to transfers on accounts in foreign banks; Russian citizens will be bound to report…

Nov, 18 2020
Work permit in Russia

A residence permit is a document that gives a foreigner the right to reside in Russia. The validity of a residence permit is unlimited if it is not revoked through the courts. The standard procedure for processing documents requires that a foreigner first obtain a temporary residence permit, then stay…

Nov, 11 2020
The Supreme Court has determined when it is possible to challenge the transaction on bankruptcy grounds

The claimant filed a claim on invalidation of a transaction which, in its opinion, was concluded by the previous management in order to give preference to a specific creditor in the bankruptcy procedure, what served as the ground for its challenge. It should be noted that in accordance with the…

Nov, 11 2020
The Bank of Russia explains when it will be possible to purchase digital financial assets

The Law on Digital Financial Assets (DFA) was adopted at the end of August and will come into force on January 1, 2021. The law regulates digital rights, rules for their issuance and accounting, transactions and also indicates the concept of cryptocurrency and its status in the Russian market. The…

Nov, 05 2020
Newly created small and medium scale enterprises will be entitled not to pay taxes starting from April 1, 2020

The President of the Russian Federation has signed the law, that relieves small and medium-sized businesses from paying taxes in 2020. This measure has been adopted in the framework of dealing with the consequences of coronavirus infection spread. What is required to be relieved from paying taxes? company shall be…

Oct, 28 2020
The Government has established the number of days off in 2021

The Prime minister of the Russian Federation Mikhail Mishustin has signed the Government’s decree establishing the order of granting days off and non-working holidays in 2021. The number of public holidays in 2021 fall on Saturday and Sunday. Thus, it was decided to postpone them to other dates. In this…

Oct, 21 2020