Russia's Ministry of Economic Development, or the MED, is proposing a permit requirement for foreign individuals, non-Russian companies and Russian companies that are owned by more than 50% by non-Russians ("foreign investors") for real estate transactions.
On Dec. 14, 2012, the Russian Duma adopted the Law on Amendments to the Civil Code in the second reading. For roughly a year now, the Russian legal community has been abuzz with discussion of the draft new Civil Code amending all four parts of the current Civil Code.
In November 2012 Russian government officials made a number of important statements suggesting that Russian state authorities may be serious about improving the country's international ratings of business environment and moving up in the ease of doing business index.
In 2011, with decreases in IPO activity internationally, only 11 Russian companies completed IPOs outside of Russia, significantly less than the 50 or more predicted by some commentators. In 2012, only RusPetro has completed an IPO on the London Stock Exchange.