#2. The Deoffshorization Bill: Forecasts and Prospects

Dear readers!

We are delighted to present to you a new issue of our corporate edition «Korpus Prava. Analytics».

The second issue of 2014 mainly addresses the new draft law relating to controlled foreign companies. This draft law is one of the first planned packages of measures designed for deoffshorization of the economy of the Russian Federation. I think that we will address this issue again in our forthcoming editions.

Our experts have prepared a number of articles related to protection of intellectual property rights, for instance, you will find why Cyprus is an attractive place for registering intellectual property. In addition, it contains information regarding protection of intellectual property rights in the Internet and experience of national regulation in the United States, Britain, France, Japan and China. The aspects of legal regime of intellectual property rights of spouses in Russia have been examined as well.

To your attention we have prepared the articles which provide some updates of amendments and alterations in different jurisdictions. Here you will find information relating to Hong Kong, BVI, Belize and the Seychelles. I hope this information will be useful for you.

Russia has come up against a situation where there is currency system (cryptocurrency), the disposal of which is not regulated and can not be regulated by the laws of any jurisdiction. Herein you will find detailed information and possible scenarios entailing the disposal of cryptocurrency.

We could not help addressing the momentous event that occurred in spring – takeover of the Crimea by Russia. The landmark event that is pleasant, unexpected and historic. We have provided to your attention all that has been done in terms of legal integration of the Crimea into jurisdiction of the Russian Federation within two months upon takeover. The process of legal integration is not easy and may not be performed within shot period of time. Therefore, we will follow the developments in future.

The company Korpus Prava has always been keen on and grateful to requests of our readers. If you have any questions or ideas regarding topics to be addressed in subsequent editions, please feel free to contact us — you are welcome.

Artem Paleev
Managing Partner
Korpus Prava

CONTENTS
Hard way home: legal integration of Crimea into Russia

In this article we talk about the details of integration of Crimea to Russia.

Controlled foreign companies legislation

On March 18, 2014 Ministry of Finance of Russia posted on its official website the draft law "On Amendments to Parts One and Two of the Tax Code of the Russian Federation, if it is enacted, it will change completely the approach to the taxation of foreign companies in Russia.

Bitcoin: revolution of currency system or new way to take money from people

Development of information technology in recent years has attained such speeds, that human possibilities will not be able to keep up with it soon.

Peculiarities of legal regime of intellectual property of spouses

Due to necessity of regulation of relationship between people in the sphere of use of property, property law emerged and shaped itself, the central object of which is to define and exploit property rights.

Protection of intellectual property on the Internet

To clarify the issues of protection of copyright and related rights on the Internet in the context of a rapidly changing Russian legislation in the designated area seems reasonable to consider regulation of foreign experience.

Offshore Jurisdictions Updates

The new Honk Kong Companies Ordinance has come into effect on the 3rd of March 2014, the New Ordinance provides a modernised legal frame work in relation with the operation and incorporation of Honk Kong companies

The significant amendments to Vista and other BVI trust and estate legislation

With effect from 15 May 20some important changes were made to the Virgin Islands Special Trusts Act (VISTA),the Trustee Ordinance, 1961 (Trustee Act) and various other BVI statutes relating to trusts and estates. The main alterations are discussed in the article.

Cyprus – an ideal jurisdiction for the establishment of Intellectual Property rights

Intellectual Property rights (IP) are like any other property right which allow creators, or owners, of patents, trademarks or copyrighted works to benefit from their own work or investment in a creation.