News

Emerging Markets Group continues close cooperation with specialized universities in St. Petersburg and Moscow.

On September 30, Olga Lobanova, Senior Associate, Auditor of Emerging Markets Group, made her presentation at the event “Digital Revolution in HR, Russian Experience” organized by the Finnish-Russian Chamber of Commerce.

On September 28, Maria Prisyazhnaya, Senior Lawyer of Emerging Markets Group made a presentation in the Finnish-Russian Chamber of Commerce devoted to the opportunity of legal entities in Russia to have 2 General Directors in order to overcome Covid-19 restrictions.

The current political environment is forcing foreign companies operating in Russia to make decisions with little or no time for reflection. If circumstances nevertheless are compelling you to reduce or terminate your Russian activities, we suggest considering (at least on a temporary basis), putting your operations into dormancy and transferring the General Director’s authorities to a trustee.

On February 28, 2022, Decree of the President of the Russian Federation on the application of certain special economic measures regarding unfriendly actions by the US and its allies was issued. It includes the following measures to strengthen currency control in order to strengthen the Russian ruble.

We would like to remind you that from May 20, 2021, in accordance with changes to clause 3.2. article 23 of the Tax Code of the Russian Federation by Federal Law No. 100-FZ of, all foreign companies are required to provide information about participants to the tax authorities.

Emerging Markets Group is a service company combining Western management and standards with extensive Russian experience. Since 1994, our outsourced accounting, tax, and legal services have helped both large Fortune 500 and small companies in the St. Petersburg and Moscow regions to prosper in Russia’s changing business environment.

The article “How the legal services market has changed during the pandemic” has been published on the RBC news portal. Head of legal practice of Emerging Markets Group Olga Vorobyeva also commented on the situation.

Withdrawal from the tax secrecy regime from some information on companies as well as specifying the medium of publication of this information will facilitate vetting potential or current partners. These changes will help to comply with due diligence when selecting a counterparty.