On June 6, 2017 in Helsinki, Managing Partner of Capital Legal Services Vladislav Zabrodin and Senior Associate of Norte Capital Grigory Dudarev held the “Russia: What’s next” presentation for representatives of Finnish business.

Russia’s geographic proximity creates advantageous conditions for Finns to develop their business not only in the northern capital that is located close to the Suomi border, but also in other regions of our Motherland. Unfortunately, the current political and economic situation is causing changes in business between the two countries. How should a foreign company act in Russia in light of the new economic reality? What new legal aspects should you keep in mind to keep your business safe?

Vladislav Zabrodin in his presentation noted the positive dynamics both in Russia’s economy and in the trade relations between the two countries. This is first of all tied to stabilization of the ruble. Quoting representatives of Finnish business, he noted that their business in Russia has begun to improve and the positive development has grown stronger. There is optimism in the air as concerns development of the Russian economy, as well as foreign investors’ interest in it.

But along with that, he mentioned research of the Association of European Businesses and the Finnish-Russian Chamber of Commerce, whose results were published in April and May this year. Practically all the respondents felt that one of the biggest problems for doing business in Russia is the changing legislation, which is flawed and whose application by the authorities is quite confusing.

“The legal base in Russia as of today is among the most developed not only in Europe, but in the world as well. That said, if you want to protect yourself and your business, it is important to know the nuances and the ‘mentality’ of how Russian law is applied,” Vladislav believes.

The firm’s Managing Partner dedicated his presentation to the latest changes and trends in lawmaking, starting from fundamental issues tied to reform of the Civil Code and ending with statements from participants of the St. Petersburg Economic Forum on development of the new version of the big data law.

Vladislav Zabrodin noted particularly the vital issues of tax regulations, news in labor law, latest trends in corporate practice and other topics.

Among the participants of the business breakfast there were companies already working on the Russian market, who are clients of Capital Legal Services, as well as companies that due to the recent positive dynamics have once again turned their eye to Russia. The Finnish participants spoke highly of the event, noting its informational content and quality of the presentation.

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