Support Russian companies in Italy and Italian companies in Russia
MiLex law firm assists Italian companies from its Milan and Moscow branches for the establishment and operation of companies in Russia, both in the cities of Moscow and St. Petersburg and in the other areas that make up the vast territory of Russia.
Due to the current economic and financial crisis, internationalization is a necessity for many Italian companies. The growing economies – like that of the Russian Federation (the only country that is part of G8, G20 and BRIC at the same time) – offer great scope for development and attractive opportunities.
After the global financial crisis of 2008-2009, which has highlighted the fragility of the Russian system, largely based on the export of raw materials and excessively linked to the price of hydrocarbons, the Government of Russia has implemented a strategy for the modernization of the industrial, productive and infrastructural system, and also heavily committing to diversifying the economy. This commitment has produced tangible results. According to the latest World Bank data, Russia has overtaken all European Union countries, including Germany, rising from ninth to eighth rank for nominal GDP. Foreign investment has been encouraged, legislation has been reformed and procedures simplified, in order to cater to the constantly growing domestic market. The entry of Russia into the WTO in August 2012 has further encouraged this trend.
It is not a novelty that the Italian production system has a lot to offer to Russia. It is a well-known fact that, besides the three “F’s” Food, Fashion, Furniture, Italy is a leader in some commodity sectors (for example, food processing equipment, packaging machinery, and others) and is one of the main trade partners of the Russian Federation, second only to Germany amongst the European trading partners of Russia. Italian products are commonly perceived as synonymous with quality and data confirm a natural preference of Russians towards our products. Of course, the Russian Federation and Italy strongly complement each other: we buy raw materials, they purchase those products from us, which are not produced in Russia or are produced of an inferior quality. Large Italian groups have made significant investments in the Russian Federation, but the Russian market offers very rich opportunities also for small and medium-sized enterprises, that are the excellence and the peculiarity of Italian economic system.
Nothing new so far. This data is known and featured in numerous articles, conferences and seminars.
Business people are practical and hands-on and want to know what the next step is. Of course, the approaches differ greatly based on the goals set by the business owner; it is one thing to market a product, it is another to move production facilities abroad. The questions that a business owner will put forth can be many:
- Which types of companies exist in Russia?
- Are there restrictions on the nationality of shareholders?
- If I am in disagreement with my business partner, how do I protect my interests?
- Which would be the competent jurisdiction?
- Can I get a judgement to be enforced? What about taxation?
- What is the difference between a representative office and a branch office?
These are the questions amongst many others which MiLex law firm, with branch offices in Milan and Moscow, is able to answer. The professionals of MiLex law firm have profound knowledge of the Russian market thanks to many years of experience in assisting Italian companies in Russia, both in Moscow and in St. Petersburg, for establishing new companies, regulating the relations between Italian and Russian shareholders of the companies and the assistance during negotiations, as well as with contracts and the management of ordinary litigation and arbitration disputes.