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LEGAL SUPPORT FOR FOREIGN INVESTORS
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Outline of Russian legal systemOutline of Russian legal system
Veronika Kazakevich
www.cliff.ru
www.cliff.ru
SOURCES OF LAW
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TYPES OF BUSINESS PRESENCE
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OPENING A COMPANY
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PRINCIPAL TAXES
Profit tax – 20%VAT – 18%Property tax – 2.2%Double tax treaties with __- countriesIncome tax (for natural persons) – 13%
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ANTITRUST REGULATION
Applies to foreign companies when:
•Making M&A if a supply volume of a foreign company to Russia exceeds USD 33.3 mln. annually
•Making M&A if a foreign company has a subsidiary Russian company which meets particular criteria
•Entering distributorship agreements with Russian companies
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CURRENCY CONTROL ISSUES
Between residents
•in rubles only•not subject to currency control
Between non-residents
•in rubles and foreign currency•subject to currency control
Payments:
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JUDICIAL SYSTEM OF RUSSIA
Verifying compliance laws with the ConstitutionCivil cases between legal persons
Criminal cases and civil cases between natural persons
Magistrate CoursMagistrate Cours
Courts Of DistrictsCourts Of Districts
Supreme Arbitration Court
Supreme Court
ConstitutionalCourt
Regional Courts Of Common J urisdiction
(83 Courts)
Courts Of Districts(2588 Courts)
Federal County Arbitration Courts
(10 Courts)
Regional Arbitration Courts
(83 Courts)
Magistrate Courts(7443 Courts)
Arbitration Courts Of Appeal
(20 Courts)
Regional Constitutional Courts
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LITIGATION PROCEDURE IN RUSSIA
NB: • In most cases only written documents can be considered by arbitration court • Witness testimony accepted very rare• Russian Arbitration courts are reluctant to accept an electronic correspondence as
an evidence, especially when free mail domains are used• To make an e-mail an evidence a special procedure should be made: a notary
survey of mailbox• The more written and signed documents you have the more chances for you to
win the case• All the documents of foreign state bodies should be legalized or have an apostil
Filing a suitPreliminary hearings
Trial J udgment
1-1,5 months 1 months 1-6 months
Enforcement order
2-3 months
~ 4 - 10 months
Litigation timeline
Appeal
1,5 months
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ENFORCEMENT PROCEEDINGS
Enforcement order
Can be sent to bailiffCan be brought to
debtor’s bank
Bailiff searches for assets of the debtor
Bank writes off the debt of debtor’s
account
Bailiff provides a debtor with the
possibility to pay the debt voluntary
Bailiff seizures debtor’s property
Property which is officially registered and can be found by bailiff:
• Funds in bank
• Real estate objects (land plots, buildings)
• Transport
• Intellectual property
• Shares and stocks in companies
If bailiff hasn’t found assets he returns an enforcement order to the claimant
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Thank you for your attention!
Veronika KazakevichDirector Corporate and Commercial [email protected]