On 1 July 2021, President Putin signed one of the most significant bills of 2021 in Russia and in doing so turned Russian IT regulation on its head. The "Landing Law", which regulates the activity of foreign IT entities in Russia, marks a new trend in the regulation of information technology in Russia.
The main development is that under the new law foreign information technology companies will be required to establish a physical presence in Russia.
Baker McKenzie organized an interactive webinar on the new law: attorneys provided additional details and discussed the key points related to adoption of the law, its main provisions and implementation issues.
The topics of the webinar are as follows:
- The new reality: background to the Landing Law
- What is the official position of Russia's authorities and stakeholders on the new law?
- Who is affected by the new rules and what to expect?
- What enforcement measures does the law provide?
- Three steps towards fulfilling the law: will that be enough?
- Local office in Russia: branch, rep. office or subsidiary?
- What are the critical Russian tax considerations?
- What are the possible risks for IT companies after the enactment of the law?