The COVID-19 pandemic has upended conventional thinking about work, creating impetus to increase the number of digital nomads – i.e., freelancers and remote workers traveling the world while working online. Some states provide favorable conditions for such migrants in order to attract qualified specialists and additional cash flows to the economy. Spain has joined their […]
Spain launches visas and tax breaks for digital nomads Read More »
Sector-specific agencies had previously suggested that applicants’ LLC membership interest or share transactions and dividend payments could be approved in two cases: if the transaction does not result in a business closure or funds leaving the country, and if the company continues to operate effectively on the Russian market. On 12 December the Sub-Commission of
A three-year transition period has been established for organizations to connect to GosSOPKA The Federal Security Service of Russia’s Decree dated November 1, 2022 has been published [1]. According to the Decree, federal bodies of executive power, authorities of constituent entities of the Russian Federation and organizations have right to make the transition to GosSOPKA
IP and IT news: last quarter of 2022 Read More »
On November 23, the Russian Ministry of Finance published a draft Resolution regarding the new procedure for settlements between residents and non-residents (the “Draft”) [1]. According to the Draft, residents have the right to receive cash from non-residents in the form of payments under contracts. Thus, the provisions of currency legislation prohibiting cash settlements with
The practice of recent months has shown that it is becoming possible to unfreeze Russian nationals’ assets frozen in Euroclear’s depository. The legally correct path to release assets in Euroclear’s depositary is to obtain a licence to release assets that are held in the company’s depositary accounts and were blocked in accordance with instructions formulated
The president of Russia’s Order No. 737 “On Some Issues of Making (Performing) Certain Types of Transactions (Operations)” (“Order No. 737”) was signed on 15 October. It continues the series of Russian countermeasures regulations. Here is what’s new and important in Order No. 737: 1. There is now a longer list of transactions involving joint
Russian president’s new countermeasures order Read More »
The eighth package of EU sanctions against Russia related to the escalation of the situation in Ukraine was published on 6 October 2022. Here are the most important restrictions: Blocking sanctions on around 30 Russian individuals, including Ella Pamfilova, Alexander Dugin, Oleg Gazmanov and Nikolay Rastorguev. A price cap on maritime transport of Russian crude
The Russian government on 30 September 2022 issued the decree “On Approval of the Regulations on State Accreditation of Russian Organisations Conducting IT Activities”[1]. The decree took effect on October 1. After a two-month break (the accreditation service was temporarily suspended since 1 August) it is again possible to undergo the IT company accreditation procedure,
New accreditation procedure for IT companies effective 1 October 2022 Read More »
Lawyers from Nordic Star have analyzed the scope of Presidential Decree No. 618 dated 9 August 2022 “On a special procedure for the implementation (execution) of certain types of transactions (operations) between certain persons” (the “Decree”). They came to the following conclusions regarding whether the prohibition established by the Decree applies to the disposal of
An analysis of the restrictions on the transfer of rights to shares in an LLC Read More »
Since 1 March 2022, Russia has had a special procedure for real estate transactions[1] involving persons from “unfriendly” countries[2]. That procedure has been somewhat liberalised for individuals[3] Continuing a trend, on 7 September the Government Commission for the Control of Foreign Investment (the “Commission“) decided to allow residents to carry out (execute) transactions (operations) entailing
