Online Seminar “Foreign Exchange Controls: Who Controls Who and Why?”

Many people believe that foreign exchange controls are obsolete. However, despite the pleas for full liberalization, the sectoral law has been amended on an irritatingly regular basis, and the amendments are often restrictive.

EPAM invites you to join the online seminar so that we can discuss the most important foreign currency regulation amendments together.

The event will be held online on October 6, 2020 (Tuesday) from 11:00 to 12:30.

The online seminar is to address the following matters*:

• Statutory filing deadlines in 2020 for individuals holding accounts with foreign financial institutions;
• The Russian national status for the operation of foreign currency rules: what might change if your permanent residence changes?
• Ignorance is no defense: what restrictions should be taken into account in case of transactions involving one’s own funds held in accounts abroad, and what liability one might face in case of non-compliance with those restrictions?
• What is mandatory repatriation?
• Penalties for non-compliance with foreign exchange rules;
• Automatic Exchange: can such information be used to identify violations of foreign currency regulation?

Speakers*:

• Sergey KALININ, Partner and head of Tax Practice at EPAM;
• Igor SCHIKOW, Tax Counsel at EPAM.

The event will be particularly useful for those who hold private accounts, deposits, investment portfolios or other assets abroad which might necessitate the use of foreign bank accounts, and for company CEOs who could be liable for non-compliance with foreign exchange rules in the course of ordinary cross-border transactions.

In order to make our discussion more relevant, we invite you to send your questions in advance but no later than October 5, 2020.

Attendance** is free of charge but requires pre-registration.

Contacts: Natalia Nikulina, Elmira Smirnova, +7 (495) 935 80 10, events@epam.ru.

 * The program and the panel are subject to amendments.
** The event is off-limits for law and consulting firms, private lawyers and attorneys.