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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…

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…

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…

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….

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…

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…

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…

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…

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…

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…

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…

Ministry of economic development of the Russian Federation has prepared a draft law that will allow foreign companies to obtain necessary license for doing business without setting up a legal entity. In accordance with current legislation a foreign company is bound to create legal entity in Russia – a subsidiary…

The SPA M&A is a legal document that regulates the conditions under which the shares of a company are transferred in M&A. As a rule, the agreement involves minimum two parties to that agreement: a selling entity that holds the title to the shares, as well as a buying entity. However, there is also a possibility to pay using stocks, payment-in-kind or media for equity.

Joint venture agreement is one of the key documents that have a crucial meaning in building a joint venture. For this reason, to develop a draft which will protect your interests you should answer the questions and take into account the factors listed below. Who are your partners? The company…

The Government of the Russian Federation has prepared amendments to the federal migration legislation in terms of regulating the foreign citizens’ entry into the country. In accordance with prepared amendments it is proposed to simplify the procedure of obtaining ordinary private visas by foreign citizens who have close relatives –…

In accordance with the Decree of the President of the Russian Federation № 580 the validity term of permits for foreign citizens and stateless persons that allow them to legally stay in Russia has been extended till December 15, 2020. In particular, the following documents will be prolonged: visa; temporary…