It has been interesting to see how tax policy evolves in the face of conflict.
Russia’s invasion of Ukraine has had noteworthy effects on many of Europe’s rental markets, as nationals and expatriates fled both Ukraine and Russia.
The invasion of Ukraine and the resulting economic sanctions imposed on Russia created an instability that is affecting the value of the ruble and the prices of Goods & Services.
With the ruble falling almost 15% over the weekend, you may soon be hearing concerns about Cost of Living Adjustments (COLAs) and exchanging money from your assignees in and out of Russia.
The Formula One World Championship is the premier global car racing competition. This year’s racing started in Bahrain in March of this year and will feature in 22 cities globally over 9 months.
The rental market in Moscow was greatly affected by the onset of the COVID-19 crisis, which resulted in many expats leaving the city, while simultaneously the local population suffered from a sharp increase in unemployment. Many expensive properties were left vacant by the exodus of expatriates, with the local population generally unable to spend as much on rent.
I recently surveyed Yuzhno-Sakhalinsk, a city in the far east Russia, for the third time. Given the city’s size, it is easy to notice any changes. Sakhalin Island is developing in accordance with the government’s plan to promote tourism, which would also increase recreation options for expatriates.
In July of 2018, Russia changed its rule for foreign citizen registration. Previously, a foreign resident could register using their company address. The new rule no longer allows this and requires a home address.
During my May 2018 survey of Moscow, relocation agencies and real estate agents warned me of an upcoming change to the “регистрация” (registration) rule for foreigners in Russia.
Below is a 1-second-a-day video taken by AIRINC Survey, Zenab Tavakoli, during her recent cost of living survey through many parts of Russia and Japan.