Business

After the coronavirus pandemic, the possibility of remote work became very popular, and eventually the opportunity to work from abroad. In such a situation, there was uncertainty in which country the personal income tax would be withheld. The current situation with “digital nomads” – employees who receive income in one country but live in another forced companies to turn to international...

The investment goods supply index, after a decline in the spring of 2022 and even stabilization, made a sharp rise and at this stage is higher than the 2021 figure. Experts agree that such growth is unlikely to continue for a long time, there is a high probability of further correction of this indicator, which again is not something special. Most analysts claim that such a jump is “seasonal”,...

In 2022, Russia made it clear that the introduction of digital currency into the country’s domestic market is one of the main vectors for the development of the economy. The state is trying to smooth the corners as much as possible, so that at the time of the full introduction of the digital currency into everyday life, the system is fully debugged and can be regulated in order to maximize the...

Russia and China signed an agreement on the resumption of visa-free group tourist trips, this agreement was suspended during the pandemic. This news has already been officially confirmed. The Foreign Ministry clarifies that Chinese citizens have the right to enter the Russian Federation both with visas and without a visa under an intergovernmental agreement.China announced the resumption of tourist...

Political events in 2022 had a significant impact on the global economy, including the Russian economy. Many foreign companies stopped operating in Russia, and Russian businesses began to relocate to the friendly countries segment. Russian exports began to withdraw from unfriendly countries and chose friendly countries as their main reference point. According to the Ministry of Economic...

Banks are now opening escrow accounts for legal entities. Initially this settlement method was used in the area of shared construction, but now banks have decided to expand the use of escrow accounts for settlements between companies. This type of account would eliminate upfront payments and bank guarantees. Escrow accounts can be used in different types of transactions, from purchase agreements to...

The Commonwealth of Independent States (CIS) Citizens of most of the post-Soviet states can visit Russia without a visa. Countries like Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan. Although Ukraine is not a member of the CIS, it is included in this list, nonetheless. However, a Russian visa is required for citizens of Georgia, Latvia, Lithuania and...

Attorneys with you, every step of the way Count on our vetted network of attorneys for guidance — no hourly charges, no office visits.  Russia is not only the largest country in the world, but also one of the great and influential economies. The country’s GDP is 1.6 trillion rubles, with growth of 1.3%. These indicators speak of the power of the country’s economy. Russia is one...

Attorneys with you, every step of the way Count on our vetted network of attorneys for guidance — no hourly charges, no office visits.  The import of goods should be understood as a process characterized by the importation into a country of goods produced in another country, for domestic consumption, the subsequent sale of the imported product, or its re-import. A company that...

In order for a foreigner from a visa-regime country to be officially employed in Russia, one of the authorisation documents must be obtained: a work permit, a temporary residence permit or a residence permit. In this article, we will look at one of the issues related to the employment of a foreign employee on the basis of the work permit. First of all, the company hiring the foreigner needs to...