Russian re-registration law adds to German business exodus

German hard hatRussian re-registration law: More than 400 German companies pulled out of Russia last year, according to the German-Russian Chamber of Commerce (ECP), 7% of all the businesses backed by German capital operating in the country.
New legislation requiring all overseas representative offices and branches to re-register which came into force at the beginning of the year and which has lead to “serious procedural problems and unjustified refusals” has played a significant role in the exodus, the ECP believes; but  Russia’s deteriorating economic climate, the rouble’s weakness and the subsequent reduction in Russian consumers’ purchasing power have also been major factors.

Source: Gazeta