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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…

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…

A draft law providing for amendments of federal legislation regulating foreign investments in terms of accreditation procedure for branches and representative offices of foreign legal entities is introduced to the Russian Parliament. Therefore, which amendments does draft law provide for? accreditation procedure will be shortened by 10 days. Thus, the…

The term “mergers and acquisitions” (M&A) in international course of business usually means transactions that result in the transfer of property, possession, or rights of control in relation to business from one person to another on the basis of contract. It should be noted that the term “mergers and acquisitions”…

Authorities on submitting to Federal tax service an application for setting up a company or registering a natural person as sole proprietor may be delegated to notaries. It is proposed to impose on the notary duty not only to certify the authenticity of signature on the application for state registration…

Every year, many legal entities either appear or cease to exist on the business market. However, it quite often happens that this or that company wishes to expand its scope of activities, and in this regard, decides to “connect” with another company, pursuing various goals. This is why the role of the transactions known as “mergers and acquisitions” has become much more important recently. Below, we shall consider this phenomenon in detail.

In accordance with the draft Resolution of the Government of the Russian Federation, process of accreditation of companies from IT sphere will be significantly facilitated due to simplification of some mandatory procedures. The following changes are proposed: to introduce possibility of applying for accreditation through the Public services portal. At…

Russian Ministry of Justice has prepared amendments to procedural legislation in part of changing mechanism for reviewing court decisions. New circumstances which will serve as a ground for reviewing judicial authority’s decision that has entered into force will include: recognition of legal act or its separate provision as inconsistent with…

From August 13, 2020 company’s liquidation procedure is changed in order to guarantee rights of employees of legal entity being liquidated. Amendments in the field of employment and civil legislation (in the part of company’s liquidation) will allow to guarantee rights of employees who are dismissed due to company’s liquidation….

What amendments does road map propose? Bankruptcy procedure It is planned to introduce bankruptcy rehabilitation procedure, to create marketplace aimed at disclosure of bankruptcy estate data and selling of debtors’ assets, to shorten the terms and change the procedure of conducting an auction. Corporate procedure It is proposed to change…

A residence permit confirms the right of a foreigner to permanently live in the country, work or do business. This document gives almost the same amount of rights as Russian citizens have and imposes very few restrictions. In addition, a residence permit is a prerequisite for obtaining Russian citizenship. How…