Scroll Top

Pavia e Ansaldo has been constantly present in the Russian Federation since 1998, where today we have an office, in Moscow.

In 2008 we established ‘Desk Russia’ based both in Milan and Rome offices with a purpose to advise Italian clients wishing to undertake or consolidate business in Russia as well as to satisfy the increasing demand of Russian clients for assistance in Italy.

Knowledge of the Russian market combined with high level skills acquired and tested over time “in the field” have enabled us to build a solid connection between business activities in Italy and Russia.

As a result of the growing request for assistance in the region located at the very heart of the new Silk Road, the Desk Russia has evolved into Desk Russia and CIS Countries. This evolution, after establishment of our Desk China, has further enlarged the presence of Pavia e Ansaldo in the Asian continent.

The team, working in close cooperation with the Moscow and St Petersburg offices of Pavia e Ansaldo as well as the most reputable local law firms in Central Asia, offers its expertise and advises mainly in the areas of corporate and commercial lawemployment lawreal estate and constructiontax and dispute resolution.

The team dedicated to CIS Countries may rely on strong links with local markets, offering assistance based on the first-hand local experience and a deep understanding of cross-border transactions.

Pavia e Ansaldo partner Vittorio Loi is the head of the Desk Russia and CIS Countries.

OUR GUIDES

 

Doing Business in emerging Uzbekistan, 2019 (English)

 

Doing Business in Italy, 2018 (Russian)

 

Come fare business in Russia, 2016 (Italian)

Pavia e Ansaldo has been constantly present in the Russian Federation since 1998, where today we have an office, in Moscow.

In 2008 we established ‘Desk Russia’ based both in Milan and Rome offices with a purpose to advise Italian clients wishing to undertake or consolidate business in Russia as well as to satisfy the increasing demand of Russian clients for assistance in Italy.

Knowledge of the Russian market combined with high level skills acquired and tested over time “in the field” have enabled us to build a solid connection between business activities in Italy and Russia.

As a result of the growing request for assistance in the region located at the very heart of the new Silk Road, the Desk Russia has evolved into Desk Russia and CIS Countries. This evolution, after establishment of our Desk China, has further enlarged the presence of Pavia e Ansaldo in the Asian continent.

The team, working in close cooperation with the Moscow and St Petersburg offices of Pavia e Ansaldo as well as the most reputable local law firms in Central Asia, offers its expertise and advises mainly in the areas of corporate and commercial lawemployment lawreal estate and constructiontax and dispute resolution.

The team dedicated to CIS Countries may rely on strong links with local markets, offering assistance based on the first-hand local experience and a deep understanding of cross-border transactions.

Pavia e Ansaldo partner Vittorio Loi is the head of the Desk Russia and CIS Countries.

OUR GUIDES

 

Doing Business in emerging Uzbekistan, 2019 (English)

 

Doing Business in Italy, 2018 (Russian)

 

Come fare business in Russia, 2016 (Italian)

LAWYERS

news and events

PeA_Desk_RussiaMosca_Corona1
19 Dec: Sanzioni dell’Unione Europea nei Confronti della Federazione Russa 

sanzioni dell’Unione Europea nei Confronti della Federazione Russa A seguito dell’ulteriore deterioramento dei rapporti tra la Federazione Russa e l’Ucraina, sfociato in aperto conflitto, l’Unione Europea ha adottato una serie di provvedimenti sanzionatori nei confronti della Federazione Russa che allargano e inaspriscono i divieti già in vigore dal 2014 e ne introducono di nuovi.   Alla data odierna (status juris: 19 DICEMBRE 2023), l’impianto sanzionatorio adottato dall’Unione Europea nei confronti della Federazione Russa a seguito dell’aperto conflitto con l’Ucraina si articola nei seguenti atti principali normativi:   Regolamento del Consiglio UE n. 833/2014 “concernente misure restrittive in considerazione delle azioni…

articolo_desk_russia
19 Oct: Italy: Benefits for investors of innovative companies

Italy: Benefits for investors of innovative companies Desk Russia and CIS countries – Newsletter Italian legislation provides several benefits for investors of innovative companies. Olga Pljukhina has summarised the essential elements of the Italian regulation and the benefits for investors in this report: ‘Italy Benefits for investors of innovative companies’.

PeA_Desk_RussiaMosca_Corona1
30 Jul: Substitutive tax on personal income received abroad (resident but non domiciled)

Substitutive tax on personal income received abroad (resident but non domiciled) July, 2023 – Currently, a progressive income tax scale for individuals – Italian tax residents -is in force in Italy. The scale is from 23 to 43 percent, based on the amount of income received. At the same time, the income received abroad is subject to the taxation too. However, there are rules aimed to attracting wealthy businessmen (High Net Worth Individual). In particular Art. 24bis of the Income Tax Consolidation Act provides the possibility for individuals who transfer their tax residence to Italy to pay a Substitutive tax…

PeA_Desk_RussiaMosca_Corona1
03 May: Recent rulings of the General Court at the European Court of Justice regarding the challenges of European individual sanctions by sanctioned Russian subjects

Recent rulings of the General Court at the European Court of Justice regarding the challenges of European individual sanctions by sanctioned Russian subjects As is well known, following the deterioration of the relationship between the Russian Federation and Ukraine, which escalated into open conflict in February 2022, the European Union adopted a series of restrictive measures against the Russian Federation that extend and intensify the restrictions already in place since 2014 and introduce several new ones. Following the implementation of the latest sanctions package approved on 26 February 2023, more than 1,450 natural persons are included in Annex I to…

articolo_desk_russia
14 Feb: Uzbekistan: Free economic zones

Uzbekistan: Free economic zones Uzbekistan offers a great variety of investment opportunities. It has several industries operating in the metallurgical, chemical, textile, agricultural, construction and food sectors, which present a lot of potential for growth in both local and export markets.   The legal framework of the Uzbek Free Economic Zones (“FEZ”) originates from the Law “On Special Economic Zones” n. ZRU-604 dated 17.02.2020, the Tax Code, several Resolutions and Decrees adopted by the President and the Cabinet of Ministers and other Uzbek regulatory sources.   Today, in Uzbekistan, there are 22 FEZs with four different sectoral orientations: 12 industrial…

articolo_desk_russia
10 Nov: Azerbaijan: Alat Free Economic Zone

Azerbaijan: Alat Free Economic Zone   Azerbaijan is a country located between the Caspian Sea and the high Caucasus Mountains. Azerbaijan is a rich in natural resources, such as oil and gas to various precious metals, as well as a potential tourist, agricultural and transportation hub.   The Alat Free Economic Zone (AFEZ) is a special economic zone located on the Caspian Sea, near the port of Baku, the Azerbaijani capital, 50 km south of the city centre. Its strategic geographic location aims at establishing the area as a regional investment hub and increasing the competitiveness within the Europe-Caucasus-Asia and…

articolo_desk_russia
19 Oct: Kazakhstan: Special Economic Zones

Kazakhstan: Special Economic Zones (update 2022) Kazakhstan is a country of great opportunities, full of history, and, seeking to become one of the most competitive economies in the world. Kazakhstan’s territory has unique mineral resources, and significant oil and gas deposits. Moreover, Kazakhstan is a member of the Eurasian Economic Union alongside Russia, Belarus, Armenia and Kyrgyzstan. Special Economic Zones (SEZs) are particular sites of the Republic of Kazakhstan characterised by a special legal regime and specific infrastructures assigned to carrying out certain priority activities. SEZs activities are regulated by the Constitution of the Republic of Kazakhstan, the Law of…

PeA_Desk_RussiaMosca_228333370_376x250
28 Jun: Russia: Temporary regime for the fulfilment of obligations towards specific holders of intellectual property rights

Russia: Temporary regime for the fulfilment of obligations towards specific holders of intellectual property rights At the end of May 2022, the new Presidential Decree no. 322 on the temporary procedure for the fulfilment of obligations towards certain intellectual property owners was adopted.   The temporary procedure was introduced for the fulfilment of the pecuniary obligations arising from the use of the intellectual property rights and (or) other signs of identification, whose owners are: foreign persons from hostile countries (including their Russian subsidiaries); persons who publicly supported the foreign sanctions introduced against the Russian Federation; persons who, after February 23,…

PeA_Desk_RussiaMosca_228333370_376x250
19 Oct: Pavia e Ansaldo with Vos’hod for Armani/Casa Moscow Residences

Pavia e Ansaldo with Vos’hod for Armani/Casa Moscow Residences Milan, 19 October, 2021 – Pavia e Ansaldo assisted the company Vos’hod, well-known Russian real estate developer, in the creation of a partnership with Giorgio Armani for the execution of the real estate Project ‘Armani/Casa Moscow Residences’, first project to be performed in partnership with the prestigious Italian luxury Brand in the Russian Federation.   The real estate complex will rise in one of the most iconic area of the Russian capital, nearby State Art Gallery Tretyakov. The Project will imply the development of an area of 9,6 thousand square meters and an investment of approximately 66…

PeA_Desk_RussiaMosca_228333370_376x250
27 May: Russia: Business activity on the Internet network curried out by foreign operators

Russia: Business activity on the Internet network curried out by foreign operators On May 21, 2021, the draft federal law No. 1176731-7 “On the performance by foreign subjects of the activity in “Internet” network on the territory of the Russian Federation” was filed to the State Duma (the lower house of the Federal Assembly of the Russian Federation). Under the above draft law a foreign person carries out the activity on Internet on the territory of the Russian Federation when that person is the owner of an Internet site and/or a web page and/or an information system and/or a program…

PeA_Desk_RussiaMosca_228333370_376x250
21 May: Russia: Exclusive jurisdiction of the Russian economic court in case of sanctioned persons

Russia: Exclusive jurisdiction of the Russian economic court in case of sanctioned persons About a year ago, on 8 June 2020 with Federal Law no. 171, two new articles of the Civil Procedure Code (APK) established the exclusive jurisdiction of the Russian economic courts on disputes with the participation of subjects against whom restrictive measures have been introduced by foreign states and / or public bodies of foreign states.   According above mentioned amendments, the Russian economic court has exclusive jurisdiction (i) on disputes with the participation of the sanctioned subjects, as well as (ii) on disputes arose from the…

PeA_Desk_RussiaMosca_228333370_376x250
17 May: La Banca di Russia stabilisce i requisiti delle attività finanziarie digitali riservate ad investitori qualificati a partire dal 1° gennaio 2021

La Banca di Russia stabilisce i requisiti delle attività finanziarie digitali riservate ad investitori qualificati a partire dal 1° gennaio 2021 In esecuzione di quanto previsto dalla legge federale n. 259-FZ del 31 luglio 2020 “Sulle attività finanziarie digitali e le valute digitali”, la Banca Centrale della Federazione Russa ha emesso l’Ordine n. 5635-Y del 25 novembre 2020 con cui, tra l’altro, ha stabilito i casi in cui le attività finanziarie digitali sono riservate agli investitori qualificati nonché i limiti per l’accesso a tali strumenti da parte delle persone fisiche.   Ai sensi del provvedimento in parola, sono riservate agli…

PeA_Desk_RussiaMosca_228333370_376x250
06 May: Russia: Simplification of the procedure for obtaining a residence permit for foreign investors

Russia: Simplification of the procedure for obtaining a residence permit for foreign investors On April 27, 2021, the draft law “On amendments to the Federal Law “On the legal status of foreign citizens in the Russian Federation” aimed at simplifying the procedure of obtaining residence permits for foreign investors was filed to the State Duma (the lower house of the Federal Assembly of the Russian Federation).   The above mentioned draft law was drawn up in execution of the Russian Federation’s migration policy plan for the period from 2019 to 2025 and is aimed at creating additional favourable conditions for…

PeA_Desk_RussiaMosca_228333370_slider
19 Mar: Dal 1° gennaio 2021 in vigore le prime norme sulla criptovaluta in Russia

Dal 1° gennaio 2021 in vigore le prime norme sulla criptovaluta in Russia La legge federale n. 259-FZ del 31 luglio 2020 “Sulle attività finanziarie digitali e le valute digitali” costituisce il primo tentativo di disciplinare normativamente il fenomeno della criptovalute in Russia ed è entrata formalmente in vigore all’inizio del 2021.   Secondo le definizioni legislative, per “attività finanziarie digitali” devono intendersi taluni diritti digitali aventi ad oggetto pretese creditorie, diritti derivanti da titoli di credito o da partecipazioni al capitale di società per azioni non pubbliche.   L’emissione e la circolazione delle suddette attività sono subordinate alla preventiva…

PeA_Desk_RussiaMosca_228333370_376x250
09 Apr: Russia: Investment protection and incentives

Russia: Investment protection and incentives On April 1, 2020, the President of the Russian Federation signed Federal Law No. 69 FZ on the investment protection and incentives in the Russian Federation (the “Law”). The purpose of the Law is to create favourable conditions for making investments and conducting business in Russia, as previous legislative initiative such as the creation of the Special Economic Zones (see our previous publications on SEZ). In order to take advantage of the benefits provided by the Law, the economic operator who intends to carry out the investment project must enter into an agreement on the…

PeA_Desk_RussiaMosca_228333370_376x250
02 Apr: Russia – Coronavirus: certificate of force majeure

Russia – Coronavirus: certificate of force majeure Rome, 2 April 2020 – On March 27, 2020, the Ministry of Economic Development of the Russian Federation informed that the Chamber of Commerce and Industry of the Russian Federation, also through its local offices, started to issue force majeure certificates in accordance with the conditions of trade agreements between Russian and foreign operators. Such certificates are issued free of charge. The above mentioned measures were adopted following the declaration by the World Health Organization of the pandemic due to the spread of the coronavirus COVID-19 and the adoption by the state authorities of…

Eventi-img
26 Nov: Special Economic Zones: form A to Z

desk-russia-special-economic-zones-from-a-to-z     Download   Business Event organized by Association of European Business (AEB), RUSSEZ in collaboration with Pavia e Ansaldo November 26, 2019 from 16:00 to 17:20 (registration starts at 15:30) Moscow, AEB Conference Centre (68/70 Butyrsky Val bld.1; 1st floor). Russian Special Economic Zones (SEZ) represent one of the important tools to stimulate foreign investors to allocate the production in the Russian Federation and to increase the economic activity of the Country. SEZ provide not only strategic and financial advantages to its Residents, but also easing the bureaucratic obstacles in various stages of the investment process. The event is structured to…

Dip_Mergers
03 Oct: RCCD and Pavia e Ansaldo in the Manucor Joint Venture

RCCD and Pavia e Ansaldo in the Manucor Joint Venture   Milan, 3 October 2019 – Manucor, a company operating in the manufacture of plastic packaging, entered into a joint venture with Biaxplen, the main Russian producer of BOPP film and part of the Sibur group, which acquired 50% of the company’s share capital. In the context of the transaction, Manucor signed an agreement in accordance with the attested restructuring plan pursuant to article 67(3)(d) of the bankruptcy law with Intesa Sanpaolo and Loren SPV S.r.l., the securitisation company that subscribed 50% of the company’s share capital.   Manucor and…

PeA_Desk_RussiaMosca_228333370_376x250
19 Sep: Russia: Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali

Russia: Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali Roma, 19 settembre 2019 – Con la Legge Federale del 1° maggio 2019 n. 79-FZ la Russia ha ratificato la Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali finalizzate a prevenire l’erosione della base imponibile e lo spostamento dei profitti (firmata a Parigi il 24 novembre 2016) (“Convenzione”). La Convenzione è stata elaborata dalla Organizzazione per la cooperazione e lo sviluppo economico (OCSE) con lo scopo di prevenire gli abusi nell’applicazione delle convenzioni internazionali contro le doppie imposizioni (CCDI) e dei casi di esenzione o di imposizione…

PeA_Desk_RussiaMosca_228333370_376x250
01 Aug: Russia: National traceability system for imported goods

RUSSIA: NATIONAL TRACEABILITY SYSTEM FOR IMPORTED GOODS Rome, 31 July 2019 – Pursuant to the Provision of the Government of the Russian Federation of 25 June 2019 n. 807, from July 1 to December 31, 2019 a test of document traceability of the imported goods will be conducted in the Russian Federation. The decision was adopted in the framework of the formation of the National System of traceability of goods. The system of marking and traceability of the goods in the Russian Federation is expected to be implemented by 2024. In perspective, this system should be part of the traceability mechanism…

PeA_Desk_RussiaMosca_228333370_376x250
20 Jun: Russia: applicable law to international successions and place of opening of inheritance practices

Russia: applicable law to international successions and place of opening of inheritance practices Milan, 20 June 2019 – In the past years the number of foreign citizens residing or who, for various reasons, lived in Russia has increased. Some of them have relatives who live in Russia or own real estate or other assets on Russian territory. The number of Russian citizens owning assets abroad has increased as well. As a result, even in Russia there are more and more cases of hereditary successions involving foreign citizens or assets abroad in relation to which is necessary to determine the applicable…

PeA_Desk_RussiaMosca_228333370_376x250
14 Feb: Doing Business in Emerging Uzbekistan

Doing Business in Emerging Uzbekistan Milan, 14 February 2019  – Desk Russia and Paesi CIS – For the first time in history Uzbekistan has made a debut in international bond market with issuance of USD 1 billion sovereign bond with a 5- and 10-year maturity periods. This bond issue will serve as a benchmark for Uzbek banks and companies looking to tap the international bond market soon. For more information Interview of Bloomberg with Uzbek Finance Minister The guide “Doing Business in Emerging Uzbekistan”.

PeA_Desk_RussiaMosca_228333370_376x250
31 Jan: Pavia e Ansaldo expands its Desk Russia to CIS Countries with Kamilla Khamraeva as Of Counsel

Pavia e Ansaldo expands its Desk Russia to CIS Countries with Kamilla Khamraeva as Of Counsel Milan, 1 February 2019 – Pavia e Ansaldo, in line with its international orientation and strong presence in the Russian Federation since 1998, has decided to expand its activities to the countries of Central Asia, in particular Kazakhstan, Uzbekistan, and Turkmenistan. This evolution will lead to the expansion of the existing Desk Russia into Desk Russia and CIS countries, with an aim to advise Italian clients wishing to undertake business not only in Russia but also in some of the neighbouring countries. Kamilla Khamraeva joins…

PeA_Desk_RussiaMosca_228333370_376x250
23 Nov: Russia: Personal Data protection

Russia: Personal Data protection Milan, 23 November 2018 – All legal entities and/or individuals who independently or in cooperation with other entities organize and/or process personal data of Russian citizens in Russia (“Personal Data”) as well as determine the purposes and scope of personal data processing (“Operator”) shall comply with the requirements provided by Russian law and, in particular, Federal Law no. 152-FZ of July 27, 2006 “On personal data” (“Law on Personal Data”). Pursuant to the Law on Personal Data, an Operator shall comply with several security and technical requirements, administrative and organizational requirements as well as Personal Data…

PeA_Desk_RussiaMosca_228333370_376x250
31 Jul: Russia: Special Economic Zones – Touristic Zone

Russia: Special Economic Zones – Touristic Zone Milan, 31 July 2018 – Following our post dedicated to the Special Economic Zones (SEZ) of the Russian Federation (https://www.pavia-ansaldo.it/wp-content/uploads/2018/07/Russia-Special-Economic-Zones-Logistic-Zones.pdf, https://www.pavia-ansaldo.it/russia-special-economic-zones-innovative-zones/?lang=en , https://www.pavia-ansaldo.it/russia-special-economic-zones-industrial-zones/?lang=en and https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en) please find below a more detailed information on one of the different kinds of SEZ, the Touristic SEZ: Russia – Special economic zones – Touristic Zones

PeA_Desk_RussiaMosca_228333370_376x250
16 Jul: Russia: Special economic zones – Logistic Zone

Russia: Special economic zones – Logistic Zone Rome, 16 July 2018 – Following our post dedicated to the Special Economic Zones (SEZ) of the Russian Federation (https://www.pavia-ansaldo.it/russia-special-economic-zones-innovative-zones/?lang=en , https://www.pavia-ansaldo.it/russia-special-economic-zones-industrial-zones/?lang=en and https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en) please find below a more detailed information on one of the different kinds of SEZ, the Logistic SEZ: Russia – Special Economic Zones – Logistic Zones

PeA_Desk_RussiaMosca_228333370_376x250
16 Jun: Russia: Zone economiche speciali – Zone Innovative

Russia: Zone economiche speciali – Zone Innovative Milano, 26 giugno 2018 – Facendo seguito ai nostri approfondimenti precedenti (https://www.pavia-ansaldo.it/russia-zone-economiche-speciali-zone-industriali/ e https://www.pavia-ansaldo.it/russia-zone-economiche-speciali/) dedicati alle Zone economiche speciali (ZES) della Federazione Russa, illustriamo alcune informazioni più dettagliate su uno dei tipi di ZES esistenti, le Zone Innovative: Russia – Zone economiche speciali – Zone Innovative

PeA_Desk_RussiaMosca_228333370_376x250
21 May: Russia: Special economic zones – Industrial zones

Russia: Special economic zones – Industrial zones Milan, 21 May 2018 – Milan, 21 May 2018 – Following our post as of May 3, 2018 dedicated to the Special Economic Zones (SEZ) of the Russian Federation [https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en] please find below a more detailed information on one among the different kinds of SEZ, the Industrial SEZ. Russia – Special economic zones – Industrial zones

PeA_Desk_RussiaMosca_228333370_376x250
03 May: Russia: Special economic zones

Russia: Special economic zones Milan, 03 May 2018 – Special economic zones (SEZ) is a large federal project aimed at the development of some regions through the attraction of direct foreign and Russian investments in hi-tech economy industries, import-substituting production, shipbuilding and tourism. The activity of SEZ is regulated by the Federal Law “On the special economic zones into Russian Federation” n. 116-FZ dated 22.07.2005. Pursuant to the art. 6 of the Federal Law, SEZ are established for 49 years. Nowadays there are 25 SEZ in different regions of the Russian Federation, divided in 4 kinds of zone: Industrial Zones Innovative Zones…

Eventi-img
15 Feb: Italia-Russia: l’arte dell’innovazione (Milano)

ITALIA-RUSSIA: L’ARTE DELL’INNOVAZIONE (MILANO) Giovedì, 15 febbraio 2018 – Oggi, giovedì 15 febbraio, si è tenuto presso la Sala Conferenze Pavia e Ansaldo dell’ufficio di Milano, il VI  Seminario Italo-Russo “Italia-Russia: L’arte Dell’innovazione”. “Per le imprese italiane che ritengano strategico il mercato russo si aprono nuove opportunità anche alla luce degli ultimi interventi legislativi e nonostante le sanzioni. La recente normativa approvata nel Paese prevede, infatti, incentivi di carattere fiscale ed amministrativo per le aziende interessate a produrre ed operare in loco. Inoltre la creazione dell’Unione economica eurasiatica tra Russia, Bielorussia, Kazakistan, Armenia e Kirghizistan, che ormai costituisce una zona di…

PeA_Desk_RussiaMosca_228333370_376x250
13 Feb: Russia: The second step of voluntary disclosure

Russia: The second step of voluntary disclosure 13 February 2018 – On January 30, 2018 the Parliament of the Russian Federation began the examination of the draft law on the “Second step” of the voluntary disclosure to be carried out during the period March 1st, 2018 ?C February 28, 2019. On February 9, 2018 the above mentioned draft law has been approved in the third (and last) reading and was presented for the examination of the Federation Council (the superior chamber of the Federal Assembly of the Russian Federation). The law is expected to be approved by the Council on…

PeA_Dipartimenti_Commerciale_300203735_
17 Feb: Italy-Russia, Forelli (Pavia e Ansaldo): Renewed interest by italian industries for Russia and all Eurasia

Italy-Russia, Forelli (Pavia e Ansaldo): Renewed interest by italian industries for Russia and all Eurasia Genoa, 17 February 2017 – Present in Russia since 1997, with offices in Moscow and San Petersburg, Pavia e Ansaldo represents a privileged observatory of the commercial relationship between Italy and Russia through the years. For over twenty years Pavia e Ansaldo has accompanied Italian entities in their investments on the Russian market with effective counselling based on an in depth knowledge of the complex set of local laws. During the Fifth Italian-Russian Seminar held in Genoa, Sergio Forelli, local partner of Pavia e Ansaldo’ Moscow office,…

PeA_Dipartimenti_Commerciale_300203735_
16 Feb: Italy-Russia, Fallico (Banca Intesa Russia and Conoscere Eurasia): After the Geopolitical shock innovation starts again

Italy-Russia, Fallico (Banca Intesa Russia and Conoscere Eurasia): After the Geopolitical shock innovation starts again Milan, 16 February 2017 – “In the last three years we witnessed a geopolitical tension which led to ruinous consequences on economic-commercial relationships between Italy and Russia. Today it seems a new beginning is made although the shock of these last three years is not forgotten: we are starting again, but with about 5 billion Euro of Italian exports less than 2013 and an almost 45% reduction in exchanges”. This was said today in Milan by Antonio Fallico, president of Banca Intesa Russia and the Association Conoscere…

PeA_Desk_RussiaMosca_Corona1
19 Dec: Sanzioni dell’Unione Europea nei Confronti della Federazione Russa 

sanzioni dell’Unione Europea nei Confronti della Federazione Russa A seguito dell’ulteriore deterioramento dei rapporti tra la Federazione Russa e l’Ucraina, sfociato in aperto conflitto, l’Unione Europea ha adottato una serie di provvedimenti sanzionatori nei confronti della Federazione Russa che allargano e inaspriscono i divieti già in vigore dal 2014 e ne introducono di nuovi.   Alla data odierna (status juris: 19 DICEMBRE 2023), l’impianto sanzionatorio adottato dall’Unione Europea nei confronti della Federazione Russa a seguito dell’aperto conflitto con l’Ucraina si articola nei seguenti atti principali normativi:   Regolamento del Consiglio UE n. 833/2014 “concernente misure restrittive in considerazione delle azioni…

articolo_desk_russia
19 Oct: Italy: Benefits for investors of innovative companies

Italy: Benefits for investors of innovative companies Desk Russia and CIS countries – Newsletter Italian legislation provides several benefits for investors of innovative companies. Olga Pljukhina has summarised the essential elements of the Italian regulation and the benefits for investors in this report: ‘Italy Benefits for investors of innovative companies’.

PeA_Desk_RussiaMosca_Corona1
30 Jul: Substitutive tax on personal income received abroad (resident but non domiciled)

Substitutive tax on personal income received abroad (resident but non domiciled) July, 2023 – Currently, a progressive income tax scale for individuals – Italian tax residents -is in force in Italy. The scale is from 23 to 43 percent, based on the amount of income received. At the same time, the income received abroad is subject to the taxation too. However, there are rules aimed to attracting wealthy businessmen (High Net Worth Individual). In particular Art. 24bis of the Income Tax Consolidation Act provides the possibility for individuals who transfer their tax residence to Italy to pay a Substitutive tax…

PeA_Desk_RussiaMosca_Corona1
03 May: Recent rulings of the General Court at the European Court of Justice regarding the challenges of European individual sanctions by sanctioned Russian subjects

Recent rulings of the General Court at the European Court of Justice regarding the challenges of European individual sanctions by sanctioned Russian subjects As is well known, following the deterioration of the relationship between the Russian Federation and Ukraine, which escalated into open conflict in February 2022, the European Union adopted a series of restrictive measures against the Russian Federation that extend and intensify the restrictions already in place since 2014 and introduce several new ones. Following the implementation of the latest sanctions package approved on 26 February 2023, more than 1,450 natural persons are included in Annex I to…

articolo_desk_russia
14 Feb: Uzbekistan: Free economic zones

Uzbekistan: Free economic zones Uzbekistan offers a great variety of investment opportunities. It has several industries operating in the metallurgical, chemical, textile, agricultural, construction and food sectors, which present a lot of potential for growth in both local and export markets.   The legal framework of the Uzbek Free Economic Zones (“FEZ”) originates from the Law “On Special Economic Zones” n. ZRU-604 dated 17.02.2020, the Tax Code, several Resolutions and Decrees adopted by the President and the Cabinet of Ministers and other Uzbek regulatory sources.   Today, in Uzbekistan, there are 22 FEZs with four different sectoral orientations: 12 industrial…

articolo_desk_russia
10 Nov: Azerbaijan: Alat Free Economic Zone

Azerbaijan: Alat Free Economic Zone   Azerbaijan is a country located between the Caspian Sea and the high Caucasus Mountains. Azerbaijan is a rich in natural resources, such as oil and gas to various precious metals, as well as a potential tourist, agricultural and transportation hub.   The Alat Free Economic Zone (AFEZ) is a special economic zone located on the Caspian Sea, near the port of Baku, the Azerbaijani capital, 50 km south of the city centre. Its strategic geographic location aims at establishing the area as a regional investment hub and increasing the competitiveness within the Europe-Caucasus-Asia and…

articolo_desk_russia
19 Oct: Kazakhstan: Special Economic Zones

Kazakhstan: Special Economic Zones (update 2022) Kazakhstan is a country of great opportunities, full of history, and, seeking to become one of the most competitive economies in the world. Kazakhstan’s territory has unique mineral resources, and significant oil and gas deposits. Moreover, Kazakhstan is a member of the Eurasian Economic Union alongside Russia, Belarus, Armenia and Kyrgyzstan. Special Economic Zones (SEZs) are particular sites of the Republic of Kazakhstan characterised by a special legal regime and specific infrastructures assigned to carrying out certain priority activities. SEZs activities are regulated by the Constitution of the Republic of Kazakhstan, the Law of…

PeA_Desk_RussiaMosca_228333370_376x250
28 Jun: Russia: Temporary regime for the fulfilment of obligations towards specific holders of intellectual property rights

Russia: Temporary regime for the fulfilment of obligations towards specific holders of intellectual property rights At the end of May 2022, the new Presidential Decree no. 322 on the temporary procedure for the fulfilment of obligations towards certain intellectual property owners was adopted.   The temporary procedure was introduced for the fulfilment of the pecuniary obligations arising from the use of the intellectual property rights and (or) other signs of identification, whose owners are: foreign persons from hostile countries (including their Russian subsidiaries); persons who publicly supported the foreign sanctions introduced against the Russian Federation; persons who, after February 23,…

PeA_Desk_RussiaMosca_228333370_376x250
19 Oct: Pavia e Ansaldo with Vos’hod for Armani/Casa Moscow Residences

Pavia e Ansaldo with Vos’hod for Armani/Casa Moscow Residences Milan, 19 October, 2021 – Pavia e Ansaldo assisted the company Vos’hod, well-known Russian real estate developer, in the creation of a partnership with Giorgio Armani for the execution of the real estate Project ‘Armani/Casa Moscow Residences’, first project to be performed in partnership with the prestigious Italian luxury Brand in the Russian Federation.   The real estate complex will rise in one of the most iconic area of the Russian capital, nearby State Art Gallery Tretyakov. The Project will imply the development of an area of 9,6 thousand square meters and an investment of approximately 66…

PeA_Desk_RussiaMosca_228333370_376x250
27 May: Russia: Business activity on the Internet network curried out by foreign operators

Russia: Business activity on the Internet network curried out by foreign operators On May 21, 2021, the draft federal law No. 1176731-7 “On the performance by foreign subjects of the activity in “Internet” network on the territory of the Russian Federation” was filed to the State Duma (the lower house of the Federal Assembly of the Russian Federation). Under the above draft law a foreign person carries out the activity on Internet on the territory of the Russian Federation when that person is the owner of an Internet site and/or a web page and/or an information system and/or a program…

PeA_Desk_RussiaMosca_228333370_376x250
21 May: Russia: Exclusive jurisdiction of the Russian economic court in case of sanctioned persons

Russia: Exclusive jurisdiction of the Russian economic court in case of sanctioned persons About a year ago, on 8 June 2020 with Federal Law no. 171, two new articles of the Civil Procedure Code (APK) established the exclusive jurisdiction of the Russian economic courts on disputes with the participation of subjects against whom restrictive measures have been introduced by foreign states and / or public bodies of foreign states.   According above mentioned amendments, the Russian economic court has exclusive jurisdiction (i) on disputes with the participation of the sanctioned subjects, as well as (ii) on disputes arose from the…

PeA_Desk_RussiaMosca_228333370_376x250
17 May: La Banca di Russia stabilisce i requisiti delle attività finanziarie digitali riservate ad investitori qualificati a partire dal 1° gennaio 2021

La Banca di Russia stabilisce i requisiti delle attività finanziarie digitali riservate ad investitori qualificati a partire dal 1° gennaio 2021 In esecuzione di quanto previsto dalla legge federale n. 259-FZ del 31 luglio 2020 “Sulle attività finanziarie digitali e le valute digitali”, la Banca Centrale della Federazione Russa ha emesso l’Ordine n. 5635-Y del 25 novembre 2020 con cui, tra l’altro, ha stabilito i casi in cui le attività finanziarie digitali sono riservate agli investitori qualificati nonché i limiti per l’accesso a tali strumenti da parte delle persone fisiche.   Ai sensi del provvedimento in parola, sono riservate agli…

PeA_Desk_RussiaMosca_228333370_376x250
06 May: Russia: Simplification of the procedure for obtaining a residence permit for foreign investors

Russia: Simplification of the procedure for obtaining a residence permit for foreign investors On April 27, 2021, the draft law “On amendments to the Federal Law “On the legal status of foreign citizens in the Russian Federation” aimed at simplifying the procedure of obtaining residence permits for foreign investors was filed to the State Duma (the lower house of the Federal Assembly of the Russian Federation).   The above mentioned draft law was drawn up in execution of the Russian Federation’s migration policy plan for the period from 2019 to 2025 and is aimed at creating additional favourable conditions for…

PeA_Desk_RussiaMosca_228333370_slider
19 Mar: Dal 1° gennaio 2021 in vigore le prime norme sulla criptovaluta in Russia

Dal 1° gennaio 2021 in vigore le prime norme sulla criptovaluta in Russia La legge federale n. 259-FZ del 31 luglio 2020 “Sulle attività finanziarie digitali e le valute digitali” costituisce il primo tentativo di disciplinare normativamente il fenomeno della criptovalute in Russia ed è entrata formalmente in vigore all’inizio del 2021.   Secondo le definizioni legislative, per “attività finanziarie digitali” devono intendersi taluni diritti digitali aventi ad oggetto pretese creditorie, diritti derivanti da titoli di credito o da partecipazioni al capitale di società per azioni non pubbliche.   L’emissione e la circolazione delle suddette attività sono subordinate alla preventiva…

PeA_Desk_RussiaMosca_228333370_376x250
09 Apr: Russia: Investment protection and incentives

Russia: Investment protection and incentives On April 1, 2020, the President of the Russian Federation signed Federal Law No. 69 FZ on the investment protection and incentives in the Russian Federation (the “Law”). The purpose of the Law is to create favourable conditions for making investments and conducting business in Russia, as previous legislative initiative such as the creation of the Special Economic Zones (see our previous publications on SEZ). In order to take advantage of the benefits provided by the Law, the economic operator who intends to carry out the investment project must enter into an agreement on the…

PeA_Desk_RussiaMosca_228333370_376x250
02 Apr: Russia – Coronavirus: certificate of force majeure

Russia – Coronavirus: certificate of force majeure Rome, 2 April 2020 – On March 27, 2020, the Ministry of Economic Development of the Russian Federation informed that the Chamber of Commerce and Industry of the Russian Federation, also through its local offices, started to issue force majeure certificates in accordance with the conditions of trade agreements between Russian and foreign operators. Such certificates are issued free of charge. The above mentioned measures were adopted following the declaration by the World Health Organization of the pandemic due to the spread of the coronavirus COVID-19 and the adoption by the state authorities of…

Eventi-img
26 Nov: Special Economic Zones: form A to Z

desk-russia-special-economic-zones-from-a-to-z     Download   Business Event organized by Association of European Business (AEB), RUSSEZ in collaboration with Pavia e Ansaldo November 26, 2019 from 16:00 to 17:20 (registration starts at 15:30) Moscow, AEB Conference Centre (68/70 Butyrsky Val bld.1; 1st floor). Russian Special Economic Zones (SEZ) represent one of the important tools to stimulate foreign investors to allocate the production in the Russian Federation and to increase the economic activity of the Country. SEZ provide not only strategic and financial advantages to its Residents, but also easing the bureaucratic obstacles in various stages of the investment process. The event is structured to…

Dip_Mergers
03 Oct: RCCD and Pavia e Ansaldo in the Manucor Joint Venture

RCCD and Pavia e Ansaldo in the Manucor Joint Venture   Milan, 3 October 2019 – Manucor, a company operating in the manufacture of plastic packaging, entered into a joint venture with Biaxplen, the main Russian producer of BOPP film and part of the Sibur group, which acquired 50% of the company’s share capital. In the context of the transaction, Manucor signed an agreement in accordance with the attested restructuring plan pursuant to article 67(3)(d) of the bankruptcy law with Intesa Sanpaolo and Loren SPV S.r.l., the securitisation company that subscribed 50% of the company’s share capital.   Manucor and…

PeA_Desk_RussiaMosca_228333370_376x250
19 Sep: Russia: Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali

Russia: Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali Roma, 19 settembre 2019 – Con la Legge Federale del 1° maggio 2019 n. 79-FZ la Russia ha ratificato la Convenzione multilaterale per l’attuazione di misure relative alle convenzioni fiscali finalizzate a prevenire l’erosione della base imponibile e lo spostamento dei profitti (firmata a Parigi il 24 novembre 2016) (“Convenzione”). La Convenzione è stata elaborata dalla Organizzazione per la cooperazione e lo sviluppo economico (OCSE) con lo scopo di prevenire gli abusi nell’applicazione delle convenzioni internazionali contro le doppie imposizioni (CCDI) e dei casi di esenzione o di imposizione…

PeA_Desk_RussiaMosca_228333370_376x250
01 Aug: Russia: National traceability system for imported goods

RUSSIA: NATIONAL TRACEABILITY SYSTEM FOR IMPORTED GOODS Rome, 31 July 2019 – Pursuant to the Provision of the Government of the Russian Federation of 25 June 2019 n. 807, from July 1 to December 31, 2019 a test of document traceability of the imported goods will be conducted in the Russian Federation. The decision was adopted in the framework of the formation of the National System of traceability of goods. The system of marking and traceability of the goods in the Russian Federation is expected to be implemented by 2024. In perspective, this system should be part of the traceability mechanism…

PeA_Desk_RussiaMosca_228333370_376x250
20 Jun: Russia: applicable law to international successions and place of opening of inheritance practices

Russia: applicable law to international successions and place of opening of inheritance practices Milan, 20 June 2019 – In the past years the number of foreign citizens residing or who, for various reasons, lived in Russia has increased. Some of them have relatives who live in Russia or own real estate or other assets on Russian territory. The number of Russian citizens owning assets abroad has increased as well. As a result, even in Russia there are more and more cases of hereditary successions involving foreign citizens or assets abroad in relation to which is necessary to determine the applicable…

PeA_Desk_RussiaMosca_228333370_376x250
14 Feb: Doing Business in Emerging Uzbekistan

Doing Business in Emerging Uzbekistan Milan, 14 February 2019  – Desk Russia and Paesi CIS – For the first time in history Uzbekistan has made a debut in international bond market with issuance of USD 1 billion sovereign bond with a 5- and 10-year maturity periods. This bond issue will serve as a benchmark for Uzbek banks and companies looking to tap the international bond market soon. For more information Interview of Bloomberg with Uzbek Finance Minister The guide “Doing Business in Emerging Uzbekistan”.

PeA_Desk_RussiaMosca_228333370_376x250
31 Jan: Pavia e Ansaldo expands its Desk Russia to CIS Countries with Kamilla Khamraeva as Of Counsel

Pavia e Ansaldo expands its Desk Russia to CIS Countries with Kamilla Khamraeva as Of Counsel Milan, 1 February 2019 – Pavia e Ansaldo, in line with its international orientation and strong presence in the Russian Federation since 1998, has decided to expand its activities to the countries of Central Asia, in particular Kazakhstan, Uzbekistan, and Turkmenistan. This evolution will lead to the expansion of the existing Desk Russia into Desk Russia and CIS countries, with an aim to advise Italian clients wishing to undertake business not only in Russia but also in some of the neighbouring countries. Kamilla Khamraeva joins…

PeA_Desk_RussiaMosca_228333370_376x250
23 Nov: Russia: Personal Data protection

Russia: Personal Data protection Milan, 23 November 2018 – All legal entities and/or individuals who independently or in cooperation with other entities organize and/or process personal data of Russian citizens in Russia (“Personal Data”) as well as determine the purposes and scope of personal data processing (“Operator”) shall comply with the requirements provided by Russian law and, in particular, Federal Law no. 152-FZ of July 27, 2006 “On personal data” (“Law on Personal Data”). Pursuant to the Law on Personal Data, an Operator shall comply with several security and technical requirements, administrative and organizational requirements as well as Personal Data…

PeA_Desk_RussiaMosca_228333370_376x250
31 Jul: Russia: Special Economic Zones – Touristic Zone

Russia: Special Economic Zones – Touristic Zone Milan, 31 July 2018 – Following our post dedicated to the Special Economic Zones (SEZ) of the Russian Federation (https://www.pavia-ansaldo.it/wp-content/uploads/2018/07/Russia-Special-Economic-Zones-Logistic-Zones.pdf, https://www.pavia-ansaldo.it/russia-special-economic-zones-innovative-zones/?lang=en , https://www.pavia-ansaldo.it/russia-special-economic-zones-industrial-zones/?lang=en and https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en) please find below a more detailed information on one of the different kinds of SEZ, the Touristic SEZ: Russia – Special economic zones – Touristic Zones

PeA_Desk_RussiaMosca_228333370_376x250
16 Jul: Russia: Special economic zones – Logistic Zone

Russia: Special economic zones – Logistic Zone Rome, 16 July 2018 – Following our post dedicated to the Special Economic Zones (SEZ) of the Russian Federation (https://www.pavia-ansaldo.it/russia-special-economic-zones-innovative-zones/?lang=en , https://www.pavia-ansaldo.it/russia-special-economic-zones-industrial-zones/?lang=en and https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en) please find below a more detailed information on one of the different kinds of SEZ, the Logistic SEZ: Russia – Special Economic Zones – Logistic Zones

PeA_Desk_RussiaMosca_228333370_376x250
16 Jun: Russia: Zone economiche speciali – Zone Innovative

Russia: Zone economiche speciali – Zone Innovative Milano, 26 giugno 2018 – Facendo seguito ai nostri approfondimenti precedenti (https://www.pavia-ansaldo.it/russia-zone-economiche-speciali-zone-industriali/ e https://www.pavia-ansaldo.it/russia-zone-economiche-speciali/) dedicati alle Zone economiche speciali (ZES) della Federazione Russa, illustriamo alcune informazioni più dettagliate su uno dei tipi di ZES esistenti, le Zone Innovative: Russia – Zone economiche speciali – Zone Innovative

PeA_Desk_RussiaMosca_228333370_376x250
21 May: Russia: Special economic zones – Industrial zones

Russia: Special economic zones – Industrial zones Milan, 21 May 2018 – Milan, 21 May 2018 – Following our post as of May 3, 2018 dedicated to the Special Economic Zones (SEZ) of the Russian Federation [https://www.pavia-ansaldo.it/russia-special-economic-zones/?lang=en] please find below a more detailed information on one among the different kinds of SEZ, the Industrial SEZ. Russia – Special economic zones – Industrial zones

PeA_Desk_RussiaMosca_228333370_376x250
03 May: Russia: Special economic zones

Russia: Special economic zones Milan, 03 May 2018 – Special economic zones (SEZ) is a large federal project aimed at the development of some regions through the attraction of direct foreign and Russian investments in hi-tech economy industries, import-substituting production, shipbuilding and tourism. The activity of SEZ is regulated by the Federal Law “On the special economic zones into Russian Federation” n. 116-FZ dated 22.07.2005. Pursuant to the art. 6 of the Federal Law, SEZ are established for 49 years. Nowadays there are 25 SEZ in different regions of the Russian Federation, divided in 4 kinds of zone: Industrial Zones Innovative Zones…

Eventi-img
15 Feb: Italia-Russia: l’arte dell’innovazione (Milano)

ITALIA-RUSSIA: L’ARTE DELL’INNOVAZIONE (MILANO) Giovedì, 15 febbraio 2018 – Oggi, giovedì 15 febbraio, si è tenuto presso la Sala Conferenze Pavia e Ansaldo dell’ufficio di Milano, il VI  Seminario Italo-Russo “Italia-Russia: L’arte Dell’innovazione”. “Per le imprese italiane che ritengano strategico il mercato russo si aprono nuove opportunità anche alla luce degli ultimi interventi legislativi e nonostante le sanzioni. La recente normativa approvata nel Paese prevede, infatti, incentivi di carattere fiscale ed amministrativo per le aziende interessate a produrre ed operare in loco. Inoltre la creazione dell’Unione economica eurasiatica tra Russia, Bielorussia, Kazakistan, Armenia e Kirghizistan, che ormai costituisce una zona di…

PeA_Desk_RussiaMosca_228333370_376x250
13 Feb: Russia: The second step of voluntary disclosure

Russia: The second step of voluntary disclosure 13 February 2018 – On January 30, 2018 the Parliament of the Russian Federation began the examination of the draft law on the “Second step” of the voluntary disclosure to be carried out during the period March 1st, 2018 ?C February 28, 2019. On February 9, 2018 the above mentioned draft law has been approved in the third (and last) reading and was presented for the examination of the Federation Council (the superior chamber of the Federal Assembly of the Russian Federation). The law is expected to be approved by the Council on…

PeA_Dipartimenti_Commerciale_300203735_
17 Feb: Italy-Russia, Forelli (Pavia e Ansaldo): Renewed interest by italian industries for Russia and all Eurasia

Italy-Russia, Forelli (Pavia e Ansaldo): Renewed interest by italian industries for Russia and all Eurasia Genoa, 17 February 2017 – Present in Russia since 1997, with offices in Moscow and San Petersburg, Pavia e Ansaldo represents a privileged observatory of the commercial relationship between Italy and Russia through the years. For over twenty years Pavia e Ansaldo has accompanied Italian entities in their investments on the Russian market with effective counselling based on an in depth knowledge of the complex set of local laws. During the Fifth Italian-Russian Seminar held in Genoa, Sergio Forelli, local partner of Pavia e Ansaldo’ Moscow office,…

PeA_Dipartimenti_Commerciale_300203735_
16 Feb: Italy-Russia, Fallico (Banca Intesa Russia and Conoscere Eurasia): After the Geopolitical shock innovation starts again

Italy-Russia, Fallico (Banca Intesa Russia and Conoscere Eurasia): After the Geopolitical shock innovation starts again Milan, 16 February 2017 – “In the last three years we witnessed a geopolitical tension which led to ruinous consequences on economic-commercial relationships between Italy and Russia. Today it seems a new beginning is made although the shock of these last three years is not forgotten: we are starting again, but with about 5 billion Euro of Italian exports less than 2013 and an almost 45% reduction in exchanges”. This was said today in Milan by Antonio Fallico, president of Banca Intesa Russia and the Association Conoscere…