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> "incorporation in an EU country" Illegal, due to the "КИК" law, and, if I remember correctly, punishable by a heavy yearly fine (about $50K ath the current e

> "incorporation in an EU country" Illegal, due to the "КИК" law, and, if I remember correctly, punishable by a heavy yearly fine (about $50K ath the current exchange rate). > "Electronic Money Institutes for at least some really basic banking" Outgoing transfers to foreign banks and electronic money institutions are now illegal, due to the yesterday's order that forbids Russian residents to transfer money to their own accounts abroad.

cf141q5325 5y ago
Thank you! Do you know if its only incorporation in EU countries? I am not quite sure about globally, but since Canadian and US Limiteds are likely out of the question as well that would (have been?) Hong Kong then? For the banking, is that transactions out of the country or any transaction, so also from money you get from out of Russia? I was more looking through the sanction perspective
- MrDisposable 5y ago
  > Do you know if its only incorporation in EU countries? Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. > is that transactions out of the country or any transaction It's about transfers of funds from Russia to foreign bank (and "bank-like") accounts. Accepting money from abroad is still legal -- which is confirmed by the fact that they yesterday imposed a requirement of mandatory conversion of 80% of any foreign-currency revenue to rubles.
  - cf141q5325 5y ago
    > Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. Do you know if that also applies for legal entities or only natural persons? That would mean a Russian holding company for the shares? Its a structure common even inside the EU as well for tax reasons.
    - MrDisposable 5y ago
      > Do you know if that also applies for legal entities or only natural persons? Not sure (would adive to consult a lawyer), but it's quite possible that it applies both to physical persons AND legal entities.
  - egao1980 5y ago
    1) It's not forbidden to control foreign company - you have to report it in 3 months time. And potentially pay taxes if there's no double taxation agreement. 2) That 80% is for corporations bringing funds into Russia as foreign currency. For an individual you'd need ruble to buy things in Russia anyway so it is not a thing to care about.
  - formerly_proven 5y ago
    > It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. How does this work with Gazprom owning Nord Stream 2 AG (incorporated in Switzerland)? Exempting legal entities would make the law extremely easy to circumvent, so I'm guessing that's not it.
deleted 5y ago
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inglor_cz 5y ago
Interesting. JetBrains, s.r.o., producers of IntelliJ (and a bunch of other IDEs such as Android Studio, PhpStorm and CLion) are incorporated in the Czech Republic, but in practice, all the development is done in Russia.
- mike_d 5y ago
  My guess is they make more than $50k/yr.
- throwuxiytayq 5y ago
  Russia is certainly about to lose some serious technical talent. I can't imagine any devs would want to stick around in that country. Hope Putin doesn't block all ways for them to emigrate.
  - _abox 5y ago
    He basically aims to reinstate the Soviet Union "glory" days so reinstating the iron curtain isn't a big stretch... I still hope this can be settled. If Ukraine gives up the areas that were basically constant civil war anyway... Continued escalation is to nobody's benefit. I don't think the Russian population wants this war either. PS for what it's worth I also was really opposed to my own country helping the US to invade the middle East (eg Iraq, Afghanistan). But two wrongs don't make a right.
    - tuukkah 5y ago
      It was never a civil war; from the beginning, it was a Russian invasion implemented partially with some locals as a proxy.
      - zelphirkalt 5y ago
        And for more info lookup "little green men" on Crimea and the history of trying to transfer Russian population to the region. This video was linked in some other comment (although on youtube) and I found it interesting: https://invidio.xamh.de/watch?v=nK-yJD_fAtk https://invidio.xamh.de/watch?v=nK-yJD_fAtk
piker 5y ago
> Outgoing transfers to foreign banks and electronic money institutions are now illegal, due to the yesterday's order that forbids Russian residents to transfer money to their own accounts abroad. Break this law if you can. Weigh the probability of being prosecuted in the mass of others breaking these laws versus the probability of facing real hardship from the economic sanctions. Doubly true if you have a family you're taking care of.
- cf141q5325 5y ago
  With the focus on "IF YOU CAN". Dont do something stupid. If you break any laws be very very sure about what the consequences can be and how you protect yourself from that. Put bluntly, dont be a blindly gambling idiot.
  - deleted 5y ago
    [deleted]
deleted 5y ago
[deleted]
kragen 5y ago
Is it also illegal to buy Bitcoin?

cf141q5325 5y ago

Thank you! Do you know if its only incorporation in EU countries? I am not quite sure about globally, but since Canadian and US Limiteds are likely out of the question as well that would (have been?) Hong Kong then? For the banking, is that transactions out of the country or any transaction, so also from money you get from out of Russia? I was more looking through the sanction perspective

MrDisposable 5y ago
> Do you know if its only incorporation in EU countries? Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. > is that transactions out of the country or any transaction It's about transfers of funds from Russia to foreign bank (and "bank-like") accounts. Accepting money from abroad is still legal -- which is confirmed by the fact that they yesterday imposed a requirement of mandatory conversion of 80% of any foreign-currency revenue to rubles.
- cf141q5325 5y ago
  > Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. Do you know if that also applies for legal entities or only natural persons? That would mean a Russian holding company for the shares? Its a structure common even inside the EU as well for tax reasons.
  - MrDisposable 5y ago
    > Do you know if that also applies for legal entities or only natural persons? Not sure (would adive to consult a lawyer), but it's quite possible that it applies both to physical persons AND legal entities.
- egao1980 5y ago
  1) It's not forbidden to control foreign company - you have to report it in 3 months time. And potentially pay taxes if there's no double taxation agreement. 2) That 80% is for corporations bringing funds into Russia as foreign currency. For an individual you'd need ruble to buy things in Russia anyway so it is not a thing to care about.
- formerly_proven 5y ago
  > It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. How does this work with Gazprom owning Nord Stream 2 AG (incorporated in Switzerland)? Exempting legal entities would make the law extremely easy to circumvent, so I'm guessing that's not it.

deleted 5y ago

[deleted]

inglor_cz 5y ago

Interesting. JetBrains, s.r.o., producers of IntelliJ (and a bunch of other IDEs such as Android Studio, PhpStorm and CLion) are incorporated in the Czech Republic, but in practice, all the development is done in Russia.

mike_d 5y ago
My guess is they make more than $50k/yr.
throwuxiytayq 5y ago
Russia is certainly about to lose some serious technical talent. I can't imagine any devs would want to stick around in that country. Hope Putin doesn't block all ways for them to emigrate.
- _abox 5y ago
  He basically aims to reinstate the Soviet Union "glory" days so reinstating the iron curtain isn't a big stretch... I still hope this can be settled. If Ukraine gives up the areas that were basically constant civil war anyway... Continued escalation is to nobody's benefit. I don't think the Russian population wants this war either. PS for what it's worth I also was really opposed to my own country helping the US to invade the middle East (eg Iraq, Afghanistan). But two wrongs don't make a right.
  - tuukkah 5y ago
    It was never a civil war; from the beginning, it was a Russian invasion implemented partially with some locals as a proxy.
    - zelphirkalt 5y ago
      And for more info lookup "little green men" on Crimea and the history of trying to transfer Russian population to the region. This video was linked in some other comment (although on youtube) and I found it interesting: https://invidio.xamh.de/watch?v=nK-yJD_fAtk https://invidio.xamh.de/watch?v=nK-yJD_fAtk

piker 5y ago

> Outgoing transfers to foreign banks and electronic money institutions are now illegal, due to the yesterday's order that forbids Russian residents to transfer money to their own accounts abroad. Break this law if you can. Weigh the probability of being prosecuted in the mass of others breaking these laws versus the probability of facing real hardship from the economic sanctions. Doubly true if you have a family you're taking care of.

cf141q5325 5y ago
With the focus on "IF YOU CAN". Dont do something stupid. If you break any laws be very very sure about what the consequences can be and how you protect yourself from that. Put bluntly, dont be a blindly gambling idiot.
- deleted 5y ago
  [deleted]

deleted 5y ago

[deleted]

kragen 5y ago

Is it also illegal to buy Bitcoin?