Russian assets confiscated in the United States will be compensated for by American assets located in Russia
Learn moreGarant – Free Online Demo
Legal information system for your company.
Simply click on the button «Start working» and the system Legislation of Russia in English will be available for unlimited time.
News
In order to apply open positions of credit institutions for currency risk, the Bank of Russia has established credit rating levels for credit institutions’ counterparties to forward transactions.
Russian citizens and non-resident individuals from friendly countries will still be able to transfer monthly no more than 1 million US dollars or equivalent amounts in another foreign currency to any accounts opened with foreign banks.
From October 1, 2024, transfers funds abroad by non-residents from unfriendly countries from Russian brokers’ and trustees’ accounts are suspended for another six months.
One more reason has been introduced for an unscheduled inspection within the framework of state advertising control. This concerns TV advertising containing an indication of the advantages of the advertised product over goods made by other manufacturers or sellers, by an advertiser that has already distributed false advertising within the previous 2 years.
On October 1, 2024, the June amendments to the Law on Information, Information Technology and Information Protection come into force, aimed at optimising the procedure for restricting access to copies of "pirated" websites that have already been blocked due to repeated and illegal posting of information containing items of copyright and (or) related rights, or information necessary to obtain them using information and telecommunications networks, including the Internet.
On September 13, 2024, the Bank of Russia decided to raise the key rate by 100 bps to 19% per annum.
From September 16, 2024, new interest rates have been set for currency swap transactions for the sale of yuan for roubles with the subsequent purchase. For yuan - at the rate of O/N SHIBOR, increased by 12 percentage points. For roubles - in the amount of the key rate of the Bank of Russia, reduced by one percentage point.
If residents are part of the same international group of companies with non-residents, they must submit notifications to the tax authorities about opening (closing) accounts (deposits) and about changing the details of accounts (deposits) of non-residents abroad.
It is planned to introduce accelerated state registration of drugs, the production of international nonproprietary names of which is not localised in Russia.
It is planned to adjust the procedure for connecting to the information system containing the list of prohibited sites, interaction with the Federal Service for Supervision of Communications, Information Technology, and Mass Media (Roskomnadzor) when providing access to the system, processing and using information.
Until the end of 2025, the Federal Service for Intellectual Property will not publish information about individuals in the official bulletin at the request of them. It is about:
The Bank of Russia maintains restrictions on cash currency due to current sanctions. For citizens whose foreign currency account or deposit was opened before March 9, 2022, a limit on currency withdrawal in the amount of the balance of funds remains, but not more than 10 thousand US dollars or the equivalent in euros, if such an opportunity has not been implemented earlier. Remaining funds can still be withdrawn in roubles.
The website of the Central Bank of the Russian Federation has published the basic principles and stages of implementation of Open Program Interfaces (Open APIs). They will allow companies to exchange information on a client more quickly with their consent, provide them with beneficial personalised services, and also give a person the opportunity to manage their data at a high-quality level.
It is planned to establish access to what information about the Internet advertising identifier held by Roskomnadzor is provided to the advertiser, advertising distributor, operators of advertising systems and advertising data, and the operator of social advertising.
In connection with the expansion of domestic brands, a number of brands in the light industry have been excluded from the list of goods permitted for parallel import. Amendments will come into effect in six months.
The pattern of special S-type custody account has been defined. Money transferred from a special custody account opened with the same depository or erroneously debited from a special S-type custody account, as well as refundable amounts of taxes previously paid from this account, can be credited to it.
Participants of limited liability companies (LLCs) (except for credit and non-credit financial, specialised LLCs) are now required to contact a notary when electing a new head (general director) to certify the fact of such a decision. The notary will sign the application for making changes to the Unified State Register of Legal Entities (previously, this was done by the new director) and independently send it electronically to the registration authority.
From September 1, 2024, qualified certificates of employees of legal entities and individual businessmen obtained from commercial certification centers have ceased to be valid.
From September 1, 2024, offences related to failure to comply with the procedure for paying tolls for travel on toll roads of regional, intermunicipal and local significance, private roads are removed from the scope of Article 12.21.4 of the Code of Administrative Offences of the Russian Federation. The mentioned Article is now applied in as much as it concerns violations of the payment procedure committed in connection with travel on federally significant toll roads.
Student IDs and record books are available through Gosuslugi web-portal. They can be downloaded in the "Education" section and presented by showing a QR code on a smartphone screen.
Contact Us
Leave us a message