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24Jul

Doing Business in Russia: Russian Financial System

Who Controls the Currency? According to Russian currency control legislation, residents are generally not allowed to buy or sell goods or services in any other currency than the Ruble. Transactions between a Russian resident and a non-Russian resident may be done in any world currency, as long as Russian currency control legislation is followed. When […]
30Jun

Doing Business in Russia: Company Law

Registration and the Worst Case Scenarios: Liquidation / Insolvency / BANKRUPTCY!? Who is liable? According to Russian company law, there are two different sorts of liabilities – parent liabilities and controller liabilities. Although the company’s capital is usually the shareholder’s sole liability (including amounts to be paid), should the company go bankrupt, the shareholders may […]
29Jun

What Does Not Kill You Will Make You Stronger – The Russian Economy 2014 – 2016, the Years of Sanctions Warfare

An Awara Accounting Economic Analysis: What Does Not Kill You Will Make You Stronger – The Russian Economy 2014 – 2016, the Years of Sanctions Warfare Данное исследование также доступно на русском языке This report is based on Awara Accounting’s research on how the Russian economy managed in 2014 – 2016 to cope with the […]
15Jun

ER International Meeting in Moscow 2017

May 19-20, 2017 marked the bi-annual board meeting of ER International, an integrated partnership of Human Resource consultants from across the globe. ERI operates as recruiting association for cross-border projects for international clients to ensure a strong support in various countries around the world. Through a strong network structure and cooperation between the partner firms […]
14Jun

Russian Statutory Audit — Choose Your Auditor for 2017

Awara advises selecting an auditor of financial statements for 2017 and recommends making a choice right now. We want to remind you that every company is required under Russian law to conduct statutory audits of 2017 in cases when: It should be also noted that companies that conduct statutory audit of financial statements for 2017 must […]
31May

Registration of non-Russian citizens during FIFA Confederations Cup

This summer Russia will host the international football tournament 2017 FIFA Confederations Cup. Due to this event, the President of Russia Vladimir Putin has adopted Decree № 202 that temporarily changes the rules of registration of foreign nationals in a number of Russian cities. The decree applies not only to fans traveling to Russia to […]
31May

To the Cloud with Awara

Starting from June 1, 2017 our accounting clients receive a new benefit — that is fast and secure primary documents exchange via Awara Cloud. It has simple and clear user interface —  you can easily upload files by drag-and-drop. We keep all the files in our personal electronic archive that you can use anytime from any place. Use your favorite web […]
18May

Technologies That Can (Not) Steal Our Jobs. Examples from 15 Various Industries

No matter how much the media tries to persuade us, robotization cannot lead to mass unemployment. Automation takes time and considerable expense, and artificial intelligence itself has much to learn from people. Moreover, history shows that technologies, that caused certain professions to disappear, has also helped create new jobs. We discussed this last time. Nevertheless, […]
12May

How to Set Up a Branch Office in Russia

A branch (”filial” in Russian) is a company’s separate subdivision located outside the company’s place of residence. A branch does not constitute a separate legal entity, but it may represent the company and carry on business on behalf of the company. As a rule, a branch has an individual balance sheet and bank account for […]
10May

Transfer Pricing Documentation & Reports

We would like to remind you that all Russian companies which performed controlled transactions in the 2016 calendar year must notify the tax authorities by submitting transfer pricing reports by May 20, 2017. Starting from June 1, 2017, tax authorities may request companies to provide the relevant transfer pricing documentation that confirms the transfer prices […]