The Russian Legal System as a Factor in Attracting Investment

The Russian Legal System as a Factor in Attracting Investment

1 June, 15:00–16:15

Russia’s legal system has seen a major overhaul in recent years, including a sweeping reform of the Civil Code, changes to the system for resolving economic disputes and the ongoing revision of the monitoring and oversight framework. Modern legal concepts have been introduced that allow for complex investment projects to be carried out, such as representations and warranties, escrow accounts and shareholder agreements. Reorganization of state courts and the introduction of procedures for forming arbitral tribunals and expansion of their powers have enabled parties to resolve economic disputes much faster than before. The legal community is well aware of these changes, but business owners and executives of Russian companies are slow to come on board, as they are used to thinking of English law as the only possible option. What new opportunities does the Russian jurisdiction offer businesses? How effective is the legal protection afforded to foreign investments in Russia? How successful are the measures being implemented to reduce administrative burdens on business? What steps need to be taken and what international best practices could be used to further improve the Russian legal system?


Key moments

One of the main goals of the Prosecutor’s Office in various countries is to fight corruption. In Israel, great success has been achieved in bringing senior government officials to justice and, to a great extent, this is the achievement of Israel’s Prosecutor’s Office.
Victoria Burkovskaya
Partner, Head of White Collar Crime Practice, Egorov Puginsky Afanasiev & Partners
Not only direct legislative protection, but some additional methods, such as regulations and agreements between market players, should be implemented.
Alexander Afanasiev
Chairman of the Executive Board, Moscow Exchange
Quickly resolved disputes are a foundation for further business development in today’s rapidly developing world. An important characteristic of a successful jurisdiction is clarity of principles and determination of practices.
Vladimir Gruzdev
Chairman of the Board, Association of Lawyers of Russia
Big money, whether from foreign investment funds or local entrepreneurs, is attracted to stable places where transparency, the rule of law and quality prevail.
Shai Nitzan
State Attorney of Israel
A successful legal battle, especially in the economic arena, calls for international cooperation.
Shai Nitzan
State Attorney of Israel
The new legal system brings the Russian civil law to the level of flexibility required for international transactions.
Gokhan Sarac
Vice President for Legal Affairs, Central Asia, Africa, Middle East and the Commonwealth of Independent States, Unilever Plc
There are positive statistical trends because the growth rates of criminal charges filed under economic articles have fallen. But the main thing is the reduction in the number of businessmen detained.
Boris Titov
Presidential Commissioner of the Russian Federation for the Protection of Entrepreneurs’ Rights
Investment appeal depends directly on the state of law and order in the country, especially in the sphere of supervision and approval. That is why protection of business and securing of entrepreneurs’ rights constitute one of the priorities for the Prosecutor General’s Office.
Yury Chayka
Prosecutor General of the Russian Federation