On November 1, 2024, a bill on the legalization of mining will come into force. Previously, cryptocurrency mining activities were not regulated in any way. It is expected that the innovations will help businesses to bypass sanctions and affect the development of exports of high-tech equipment. Who is allowed to engage in mining? In order […] The post Law on Mining in Russia first appeared on Awara ..read more

With Russia-China relations at a high in 2024, according to Bloomberg about 40% of Russia’s imports and exports are completed in Chinese yuan, a stark increase from nearly zero at the start of 2022. With a $240 billion trade value between Russia and China in 2023, further business development of Chinese entrepreneurs in Russia is to […] The post The Russia-China Payment Challenge. How to Facilitate Cross-Border Transactions in 2024? first appeared on Awara ..read more

Starting from January 1, 2025, a five-stage progressive personal income tax scale with a maximum rate of 22% will come into effect. Each of the new rates will not apply to the entire income, but only to the amount exceeding the threshold level of the previous level. Please find below the applicable rates and income […] The post From January 1, 2025, a Progressive Personal Income Tax Scale with a Maximum Rate of 22% Will Come into Effect first appeared on Awara ..read more

Keeping military records in the company is nothing new. Until October 2023, fines for improper maintenance of such documentation were modest, and inspections were rare. Now fines have increased significantly, and attention to documentation has been intensified. Therefore, Awara recommends checking how this process is organized in your company. Who is obliged to keep military […] The post Fines for Errors in Maintaining Military Records of Employees Have Increased first appeared on Awara ..read more

We have prepared a brief guide for foreign investors on opening a company (LLC) in Russia. In the article we draw attention to the required documents, the choice of company participants and organizational procedures. Founders / Owners/Shareholders According to legislation, an LLC can be established by individuals or legal entities, but the following conditions must […] The post How to Open a Company (LLC) For a Foreign Business in Russia: What Documents Will Be Needed and Other Important Points first appeared on Awara ..read more

What are the options, and why are they needed? Under Russian corporate law, it is possible to conclude “call” and “buyback” options for ownership in a limited liability company (LLC). These transactions represent a fast and convenient way to transfer ownership in an LLC and can significantly reduce legal and economic risks. Currently, options are […] The post “Call ” and “Buyback” Options for Ownership in a Company. Why These Instruments Might Be of Interest to Russian and Foreign Businesses. first appeared on Awara ..read more

This is an article in our series on doing business and living in reliable jurisdictions. Bojan Timotijević from “Welcome to Serbia” Association – our partner company from Belgrade – talks about the ways to obtain a Serbian Residency through opening a company and buying real estate. Key Points: Serbian Residency No requirement to speak the Serbian […] The post How to Get a Serbian Residency first appeared on Awara ..read more

If you live in Russia for most of the year (i.e., you are a resident) and you have an account (bank or brokerage) outside of Russia, you may have to send a cash flow statement to the tax authorities. When you don’t have to do anything You don’t have to file a CFS if two […] The post Individual’s Cash Flow Statement (CFS) on Foreign Account first appeared on Awara ..read more

We continue our series of articles about doing busiess in trusted jurisdictions. Read about opening a company in Armenia with help from our local partner in Yerevan ArmGate Advisers. What documents are required to open a legal entity The company name, which should be provided in Russian and in English (note that you have to […] The post Awara Guide on Set Up Business in Armenia: Documents & Taxes first appeared on Awara ..read more

We continue our series on opening bank accounts in trusted jurisdictions. Read about opening a bank account in Armenia with help from our local Yerevan based partner. 1. How to open a bank account in Armenia. First steps. The procedure of opening a bank account in Armenia depends on the specific bank, but there are […] The post Awara Guide on Opening Bank Accounts in Reliable Jurisdictions. Chapter 4: Armenia. first appeared on Awara ..read more