All articles by Kira Egorova

Useful tips for Individuals who want to Import and Export Art Objects to and from Russia

By | Family Matters On Line Archive, Kira Egorova | 3 min read

Different procedures and documents are required for individuals who want to import and export art objects in/out of Russia depending on the nature of the Art object. Import and export of Art Objects by individuals may be really simple or quiet difficult depending on whether Art Object qualified as cultural value or not.  Import and Export Art Objects Russia is a member of the Customs Union, including Belarus and Kazakhstan. The same customs legislation is applied on the entire territory of the Customs Union. Therefore, once imported into...

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import and export art objects to and from Russia

Strong restrictions for Foreign Accounts in Russia?

By | Family Matters On Line Archive, Kira Egorova | 2 min read

Russian law establishes special regulation for individuals’ foreign accounts. Individuals (Russian currency residents) cannot receive on their foreign accounts in Russia for the majority of funds transfers. Spending of funds is less problematic, however subject to certain restrictions as well. Fine for non-compliance is 75%-100% out of the amount of illegal funds transfer. In 2013 amendments to the Russian Administrative Offenses Code introducing significant administrative fines applicable to individuals for non-compliance with foreign...

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foreign accounts in russia

Inherited Business Assets in Russia: Problems and Risks

By | Family Matters On Line Archive, Kira Egorova | 7 min read

Russian legislation does not provide any specific regulations to protect business assets after the death of testator which leads to impossibility to inherit business as a whole complex. There are risks of losing the business till the heirs accept the inheritance. For more details please follow… What Problems One May Face with Inherited Business Assets in Russia? In accordance with the Russian laws the inheritance comprises all the assets owned by the testator by the moment of death. If the inherited estate includes the business assets...

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inherited business assets

Succession in Russia

By | Family Matters On Line Archive, Kira Egorova | 5 min read

Succession in Russia is possible by will and operation of law. The freedom of will is limited. To acquire the estate the heirs shall accept it. Succession in Russia is the only way to transfer property in case of death. The only way to change the order of succession established by law in Russia is to make a will. The freedom of will is limited by compulsory heirship rules and spouse’ part in the joint property. For more details please follow... Order of Succession in Russia in Compliance with Domestic Law Succession in Russia is the only...

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import and export art objects to and from Russia