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

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 […]
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
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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
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18Jan

Russian Statutory Audit: Criteria, Characteristics, and Penalties in 2022

We want to remind you that every company is required under Russian law to conduct statutory audits of 2022 in cases when: indicators in financial statements of the company for 2021 exceed the following limits: revenue is more than 800 million rubles, or the amount of the balance sheet assets exceeds 400 million rubles; the […]
  • Posted by Sergey Minyailo
  • On January 18, 2023
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12Jan

Individual’s Cash Flow Statement (CFS) on Foreign Account

If you live in Russia for most of the year (i.e., you are a resident) and you have an account (bank or brokerage) outside of Russia, you may have to send a cash flow statement to the tax authorities. When you don’t have to do anything You don’t have to file a CFS if two […]
  • Posted by Awara
  • On January 12, 2023
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13Sep

Western Sanctions and Retaliatory Restrictions by Russia

We have prepared an overview of the most important legislative changes that affect foreign companies and their operations in Russia. We conduct daily monitoring of changes in Russian legislation in order to provide you with the latest information to make timely decisions. 13.09.2022 Foreigners From Unfriendly Countries Will Be Able to Buy or Sell Stakes […]
  • Posted by Awara
  • On September 13, 2022
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31Aug

From September 1, 2022, the Procedure for Working With Personal Data of Individuals Will Change

From September 1, 2022, amendments to the current legislation in the field of personal data protection will come into force: the circle of persons who need to transmit information to the Federal Service for Supervision of Communications, Information Technology and Mass Communications (Roskomnadzor) about their intention to process personal data is expanded, a number of […]
  • Posted by Awara
  • On August 31, 2022
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01Aug

Awara Guide on Opening a Bank Account in Reliable Jurisdictions to Support Your Russian Business. Chapter 1: China.

Differences, Features, Tips, Pitfalls, and Best Chinese Banks for Russian Companies With a majority of Russian banks being currently disconnected from the SWIFT system, transfers to and from the EU and the US becoming difficult or impossible. US and EU sanctions further impede business transactions between companies of these regions and Russia. How to secure […]
  • Posted by Awara
  • On August 1, 2022
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18May

Reminder: Notification on the Membership in a Multinational Enterprise Groups and Country-By-Country Data

In the beginning of 2018 Russia began automatic exchange of tax information under the OECD Convention (Organization for Economic Co-Operation and Development) and introduced new reporting requirements for members of multinational enterprise (MNE) groups. What companies does the law apply to? The reporting must be filed by MNE groups with consolidated revenue over RUB 50 […]