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Assistance in cooperation with international business partners
Assistance in cooperation with international business partners
Advising on counter-sanctions and special economic measures adopted on the basis of Decrees of the President of the Russian Federation and regulatory acts adopted in their development and solving clients issues with a view to achieving a balance between practical and safe business solutions.
Impact of Restrictions on Business
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New regulations that directly affect businesses and trust-based relationships
suspended the performance of contracts and penalties can be imposed
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Businesses linked to “non-friendly" countries need to obtain special permits from regulatory authorities
The Ministry of Finance, the Central Bank of the Russian Federation
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Payments to “non-friendly" countries should to be made by transfer to a special account in Russian bank
The disposal of funds is restricted
Services
Assistance in obtaining licenses/permits
Analyzing business structure and existing contractual obligations
Cooperation with the Ministry of Finance, the Central Bank of the Russian Federation, and other governmental bodies
Assistance in cooperation with the banks, registration authorities, counterparties related to countersanctions restrictions
Representative Legal Matters
Assistance in obtaining a permit from the regulatory authorities to pay dividends to a “unfriendly” country resident (Netherlands)
We analyzed business structure when foreign elements are involved (Russia and Switzerland) to balance the interests both the client and the investor.
Client is the leading global pet food company.
New procedure for distributing dividends to “unfriendly” members (shareholders) of Russian companies was formalised by Decrees No. 95 of 5 March 2022 and No. 254 of 4 May 2022 the President of the Russian Federation, that introduce restrictions on profit distributions — by Russian companies to shareholders from “unfriendly” jurisdictions. Generally, such distributions must be made to a special “C”-type account opened in the name of a foreign shareholder (“Special Procedure”) unless the Russian company, who is the payer, has obtained separate clearance from the Ministry of Finance of Russia to distribute profit in circumvention of the Special Procedure (“Clearance Procedure”).
We advised on counter-sanctions and special economic measures adopted on the basis of Decrees of the President of the Russian Federation and regulatory acts adopted in their development.
We cooperated with the Ministry of Finance, the Central Bank of the Russian Federation, the Subcommission of the Government Commission for Control of Foreign Investments, and other governmental bodies in order to provide our client with the most thorough and comprehensive legal advice.
Our client retained its business in Russia
Client has obtained the permit to pay dividends to its Dutch founder by transferring dividends in EUR to European bank.
Dmitry Barsky
Has over 20 years of experience in tax
Dmitry advises both international and Russian domestic businesses with a particular focus on tax due diligence, tax planning, with an emphasis on corporate reorganizations and restructurings. He has extensive experience working with a wide variety of industries, including Financial Institutions, Industrial Manufacturing, Energy and etc.
Dmitry is experienced in tax audits and focused on tax dispute resolution.
See portfolio →
Dmitry is experienced in tax audits and focused on tax dispute resolution.
See portfolio →
- Dmitry BarskyHas over 20 years of experience in taxDmitry advises both international and Russian domestic businesses with a particular focus on tax due diligence, tax planning, with an emphasis on corporate reorganizations and restructurings. He has extensive experience working with a wide variety of industries, including Financial Institutions, Industrial Manufacturing, Energy and etc.
Dmitry is experienced in tax audits and focused on tax dispute resolution.
See portfolio →
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How can we help you?
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