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In September 2023, a pilot project of online business registration will begin. The authors of the project are also considering the possibility to remotely select a bank for a corporate account and issue an EDS. The project will be until May 2025, after which, if it becomes successful, it will…
The President and the Government of the Russian Federation have decided to start issuing electronic visas for entry into Russia. Initially, the list of countries whose citizens will be able to apply for electronic visas was 52 countries: Andorra, Austria, Bahrain, Belgium, Bulgaria, Vatican City, Hungary, Germany, Greece, Denmark, India,…
The opening process of LLC for foreign citizens and companies in Russian Federation has always been possible. Nowadays they can act as founders in Russian companies without restrictions. However, persons from “unfriendly countries” are facing number of limitations. We have prepared short-list of the most important questions. Can a foreign…
Business-to-business (B2B) disputes are a common occurrence in San Diego. Such conflicts, if not properly managed and resolved, can escalate into significant litigation, exposing companies to contingent liabilities and distracting key executives from core business operations.
From July 1st, 2023, the portal of Public Services for individual taxpayers will be able to use electronic document management for interaction with the Federal Tax Service (FTS). To do this, it will be necessary to send a notification to the Federal Tax Service about the need to obtain documents…
Russia and the United Arab Emirates are striving to further improve economic relations. At the moment, the countries are agreeing on the main terms of the new tax agreement, but the terms of the new agreement will be less favorable than under similar agreements with Western countries. According to the…
In 2023, both citizens of the Russian Federation and foreigners can open a company in Russia, even if they are citizens of states that are included in the list of unfriendly countries, which is approved by the Government of the Russian Federation. What is necessary to register an LLC: To…
From July 1st, 2023, a simplified liquidation procedure will begin to operate for legal entities that are small and medium-sized businesses. To use the new procedure, the company’s participants must make a unanimous decision and submit an application for exclusion from the register of legal entities. The application can be…
Foreigners and foreign companies can conduct business in Russia in several ways: • registration of a legal entity (separate company); • buying a stake in a business or participating as a co-founder; • opening of a branch or representative office; • registration as an individual entrepreneur; • cooperation with distributors….
When opening a company, the choice most often falls on a limited liability company (LLC). By opening an LLC, the founders are not responsible for the obligations of the company with their personal property, and it will be enough to deposit only 10,000 rubles as the authorized capital for the…
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…
