05Nov

Russia has risen 4 places in the ranking of Doing Business

In the World Bank’s Doing Business 2019 ranking, Russia is rated 31 out of 190, which is 4 places higher than last year. Russia did not succeed in achieving the goal set by Vladimir Putin in 2012 to enter the top 20 countries by 2018; nevertheless our country is showing a positive trend every year: […]

Posted by Awara
On November 5, 2018

22Oct

The Government Is Preparing a Series of Measures to Improve Business Climate

Doing business in Russia will become easier: the Ministry of Economic Development, with the participation of entrepreneurs, has prepared a set of measures within the framework of the Transformation of Business Climate Plan (TBC). This project is not temporary: every six months the list will be updated with new initiatives. Already the first package of […]

Posted by Awara
On October 22, 2018

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 […]

Posted by Eugene Isaev
On July 24, 2017

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 […]

Posted by Eugene Isaev
On June 30, 2017

21Mar

Doing Business in Russia: Special Protection for Certain Social Groups — Labor Law

According to the Russian labor code, certain groups of workers enjoy special protection. These are: The different cases are outlined below. Women Certain conditions of employment of women are regulated by special provisions (Chapter 41 Labor Code). Below is an overview. Women enjoy special protection against dismissal (Art 261 Labor Code). We refer to the […]

Posted by Eugene Isaev
On March 21, 2017

14Mar

Doing Business in Russia: Remote Work

On April 8, 2013, the president of Russia signed into law amendments to the Labor Code introducing a new Chapter No. 49.1 “On Remote Work”. This new law represents a significant change and modernization of the Russian labor laws, for it will now for the first time be legal to arrange work on a remote […]

Posted by Eugene Isaev
On March 14, 2017

06Mar

Doing Business in Russia: Different Forms of Employment

Employee or Civil Contractor The services or work of an individual in Russia can be legally hired either by entering into a labor contract according to the labor law or a contract under the civil law, referred to as a civil law contract. A labor contract is regulated by the Labor Code. Civil law contracts […]

Posted by Eugene Isaev
On March 6, 2017

01Mar

Doing Business in Russia: Trade Unions and Collective Bargaining

The Russian Labor Code foresees participation of trade unions in matters relating to the organization of and compensation for work, as well as entering into of collective agreements and collective contracts or dismissing union member employees. With the new Labor Code the role of trade unions at different levels has been clarified, and some of […]

Posted by Eugene Isaev
On March 1, 2017

21Feb

Doing Business in Russia: Labor Law

The Labor Code All major provisions regulating labor and employment are concentrated in the Labor Code, and took effect on February 1st, 2002. As in all aspects of Russian society, the Labor Code also puts a heavy administrative burden on the employer. Non-compliance with all these rules will put the employer at a disadvantage in […]

Posted by Eugene Isaev
On February 21, 2017

21Nov

Doing Business in Russia: Accounting and Audit in Russia – The New Way

Russian statutory accounting rules (RSA – also referred to as Russian Accounting Standards, RAS) are regulated by norms on a hierarchy of four levels. At the highest level there is the Accounting Law (passed by the Russian parliament, the State Duma). At the second level there are the accounting standards (“PBU” in Russian, short for Polozheniya […]

Posted by Sergey Minyailo
On November 21, 2016

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