Tag: #horizons

China’s Anti-Foreign Sanctions Law impacts on companies and individuals

On 10 June 2021, the Standing Committee of the National People's Congress ("NPC") adopted the Anti-Foreign Sanctions Law of the People's Republic of China ("AFSL"). The AFSL establishes the regulatory framework for foreign persons, both legal entities and individuals, acting against China's national interests and expands the scope of penalties and obligations. For foreign companies…

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Why liquidating your company is essential for foreign investors?

Foreign investors may decide to close their China operations for various reasons. According to the relevant laws, rules, and regulations, closing operations in China involves dissolving and liquidating the company. Abandoning a company without completing the legal requirements can result in serious penalties for both personnel of the company and the company. Specifically, the personnel…

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Legal focus: currency control in Russia

If you doing business in Russian Federation (“Russia”), you should be aware of the following: Fiscal transations shall be conducted in rubles (RUB), the national official currency.RUB payment transactions both in and out of Russia are strictly governed by the government and the Russian Central Bank.Foreign currency payments or RUB transfers between a Russian resident…

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