24Nov

Changes to the Salary Requirements for HQS

From March 1, 2024, the salary requirement for highly qualified foreign specialists (HQS) is changing: instead of 167,000 rubles per month, the value is set at 750,000 rubles (before taxation) per quarter (250,000 rubles per month or 3,000,000 rubles per year). There are few exceptions: they mainly concern medical, pedagogical and scientific workers, as well […]

Posted by Awara
On November 24, 2023

05Oct

Fines for Errors in Maintaining Military Records of Employees Have Increased

Keeping military records in the company is nothing new. Until October 2023, fines for improper maintenance of such documentation were modest, and inspections were rare. Now fines have increased significantly, and attention to documentation has been intensified. Therefore, Awara recommends checking how this process is organized in your company. Who is obliged to keep military […]

Posted by Awara
On October 5, 2023

06Sep

How to Open a Company (LLC) in Russia: What Documents are Required and What to Consider

We have prepared a brief guide for foreign investors on opening a company (LLC) in Russia. In the article we draw attention to the required documents, the choice of company participants and organizational procedures. Founders / Owners/ Shareholders According to Russian legislation, individuals, as well as legal entities can establish an LLC, provided the following […]

Posted by Awara
On September 6, 2023

01Aug

Russian Statutory Audit: Criteria, Characteristics, and Penalties in 2023

We want to remind you that every company is required under Russian law to conduct statutory audits of 2023 in cases when: The results of the statutory audit of accounting (financial) statements must be entered in the Unified Federal Register (http://www.fedresurs.ru). To log in and submit information it is necessary to obtain a certificate of electronic […]

Posted by Sergey Minyailo
On August 1, 2023

11May

“Call ” and “Buyback” Options for Ownership in a Company. Why These Instruments Might Be of Interest to Russian and Foreign Businesses.

What are the options, and why are they needed? Under Russian corporate law, it is possible to conclude “call” and “buyback” options for ownership in a limited liability company (LLC). These transactions represent a fast and convenient way to transfer ownership in an LLC and can significantly reduce legal and economic risks. Currently, options are […]

Posted by Awara
On May 11, 2023

04Mar

Payroll Regulations in Russia in 2023

Posted by Awara
On March 4, 2023

14Feb

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2022 calendar year must notify the tax authorities by submitting transfer pricing reports by May 22, 2023. Starting from June 1, 2022, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]

Posted by Sergey Minyailo
On February 14, 2023

08Feb

Annual General Meetings of a Russian Subsidiary in 2023

Remember to Properly Hold and Document the Annual General Meeting of Shareholders of Your Russian Firm This time of the year all Russian companies should hold Annual Shareholders Meetings. Even when a formal meeting is not held it is important to make proper records and documentation of all shareholders’ decisions. Unfortunately, corporations frequently fail to […]

Posted by Eugene Isaev
On February 8, 2023

02Feb

How to Get a Serbian Residency

This is an article in our series on doing business and living in reliable jurisdictions. Bojan Timotijević from “Welcome to Serbia” Association – our partner company from Belgrade – talks about the ways to obtain a Serbian Residency through opening a company and buying real estate. Key Points: Serbian Residency No requirement to speak the Serbian […]

Posted by Awara
On February 2, 2023

20Jan

How to Open a Bank Account in Türkiye. Awara Guide.

This is an article in our series on opening bank accounts in reliable jurisdictions. Find out in the interview with our Ankara and Istanbul partner how to open a bank account in Türkiye. 1. What is the standard procedure for opening a bank account in Türkiye? Whether individual or company is opening an account a potential […]

Posted by Awara
On January 20, 2023

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