Legal overviews
Major changes to federal law "On personal data"
- Service: Data Protection
- Date: 21.07.2022
Federal Law No.266-FZ was signed and published on 14.07.2022, introducing large-scale changes to the regulation of personal data processing. The draft law after being considered by the State Duma has changed substantially as compared to its previous version.
Review of sanctions relating to intellectual property
- Services: Intellectual Property (IP), Sanctions Compliance
- Date: 20.07.2022
In the current situation, sanctions imposed by foreign states against Russia inevitably affect intellectual property or IP. Here is a list of the main EU, US and UK sanctions imposed against Russian entities and individuals that affect intellectual property issues.
New russian presidential anti-sanctions decree
- Services: Tax Law, Sanctions Compliance
- Date: 12.07.2022
On July 5, the President signed a new anti-sanctions decree No.430 (the “Decree No.430”), which eases the existing restrictions in currency regulation, but also introduces some new ones.
Restrictions eased on contributions to foreign charter capital
- Services: Tax Law, Sanctions Compliance
- Date: 27.06.2022
The Russian Central Bank has allowed payments for shares in, and contributions to, the property of non-residents without a special permit, if the relevant funds are deposited in rubles or in the currency of a friendly state.
From now on license payments to foreign rightholders from non-friendly states can be made only through a special ruble account
- Service: Intellectual Property (IP)
- Date: 09.06.2022
The Russian President signed the Decree imposing a requirement to make payments under agreements for using exclusive rights in favor of foreign rightholders from non-friendly states, as well as a number of Russian rightholders, including those supporting sanctions, only through a special ruble account opened in an authorized bank.
State Duma adopted in the first reading a draft law on major amendments to the Personal Data Law
- Service: Data Protection
- Date: 31.05.2022
Obtaining information on real estate owners and transferring data abroad could get substantially more difficult. Let’s have a look at amendments to the Personal Data Law.
Application of limitations on obligations to foreign creditors
- Services: Sanctions Compliance, Tax Law
- Date: 27.05.2022
The Russian Central Bank published new explanations on application of the Presidential Decrees dealing with anti-sanctions measures.The most notable ones seem to be the Central Bank’s comments about the procedure for applying the limit of RUB 10 million on obligations to foreign creditors pursuant to Clause 2 of Presidential Decree No.95.
Restriction on dividend payments
- Service: Tax Law
- Date: 05.05.2022
On May 04, 2022, Presidential Decree No.254 was published, under which Presidential Decree No.95 starts to apply to dividend payments from limited liability companies, partnerships and cooperatives to residents of non-friendly states and entities they control (unless they are registered in Russia).
Overview of draft law on external administration
- Service: Corporate Law / Mergers and Acquisitions
- Date: 26.04.2022
On April 12, 2022, Draft Law No.104796-8 “On external administration for managing a company” was introduced to the State Duma of the Russian Federation. The Draft Law allows external administration of companies with non-friendly foreign participation of at least 25%.
Foreign currency restrictions 2.0
- Service: Tax Law
- Date: 25.03.2022
Today, when legislative requirements are changing every day and new foreign currency restrictions are replacing “old” new restrictions introduced only a week ago, it is crucial to plan your activities very carefully with the current requirements in mind and to analyze not only current, but also potential risks, while fighting the headwinds to the extent possible