And other legal entities // In the Russian Federation, for the first time in six years, the number of established companies is growing

Experts from the Higher School of Economics recorded an increase in economic activity in Russia – for the first time in six years, an increase in the number of created legal entities was noted while a decrease in the number of liquidated companies. However, the trend has not been reversed – in total, so far, … Read more

Currency curtain // The wall between the Russian and Western financial markets continues to be completed

Without waiting for feedback on the Central Bank’s advisory report on a new strategy in the financial market, the Russian Federation continued to “push” the market towards devaluation and increased restrictions on cross-border capital transactions. A decree was issued allowing banks to fail to fulfill deposit agreements of legal entities in foreign currency in the … Read more

House managers say goodbye, but do not leave // ​​The State Duma is looking for a solution to the problem of serial bankruptcies in housing and communal services

A draft law has been submitted to the State Duma to include in the register of disqualified persons not only managers, but also owners of management companies in housing and communal services, whose licenses have been cancelled. The authorities intend in this way to solve the problem of serial bankruptcies in the utility industry, when … Read more

The invisible side of the market // The government specifies sanctions blackouts in the economy

The government consistently closes access to databases on legal entities and individuals in order to avoid the expansion of sanctions. In particular, the Ministry of Finance proposes to formalize the list of companies that will be able to classify part of the data about themselves in the registers of legal entities and financial statements, such … Read more

In defense against an indefinite circle of persons // The Government of the Russian Federation was instructed to draw up Russian sanctions lists

The presidential decree legalized individual sanctions in the legal system of Russia – prohibitions on transactions with certain individuals and legal entities to structures in Russian jurisdiction. The government will determine the list of “sanctioned” persons within ten days. Contrary to the wording of the law “On Special Economic Measures”, Russian non-sectoral sanctions are indefinite, … Read more

Business invisible // SMEs in Russia are dissolving into sole proprietorships and self-employed

Although the total number of legal entities and individual entrepreneurs (IE) in the Russian economy has grown over the year, business continues to shrink. Entrepreneurs, under the influence of “covid” shocks and sanctions, prefer to switch to alternative regimes – sole proprietorship and self-employment. Experts point to regulatory arbitrage in relation to various business segments, … Read more

And let the whole world sit behind barbed wire // Deals with unfriendly foreign persons will be carried out through the government

The second “counter-sanctions” presidential decree, which somewhat clarifies both the currency control regime and the regime of restrictions on the movement of capital, was published on March 1 in the evening. The document did not bring fundamental clarity to what was happening – it requires that all transactions with foreign individuals and legal entities from … Read more

Persistent patriots // Deputies proposed to limit foreign participation in the capital of Russian data centers

The State Duma Committee on Information Policy proposed to introduce amendments to the bill on regulation of the data processing center (DPC) market, limiting foreign ownership. The bill should be considered in the first reading in April, and the deputies plan to prepare proposals for its finalization by the second. The restrictions are meant to … Read more

Legal entity of suspicious nationality // The legal capacity of companies with foreign participation is proposed to be limited not only by law

The Federation Council is discussing possible mechanisms for closing loopholes for foreign companies that circumvent the requirements of the Russian authorities for import substitution. According to Kommersant, Senator Konstantin Dolgov is discussing with government departments a radical solution to the problem – the amendment of Art. 49 of the Civil Code, within the framework of … Read more