Legal solutions

ready for the future

What we do

Fintech
  • Jurisdiction selection
  • Risk assessment
  • Drafting legal opinions
  • Drawing up documents
Intellectual Property
  • Registration of trademarks
  • Licensing agreements
  • Challenging legal acts
  • Registration of computer software
Gaming
  • Contracts with developers
  • Legal support for investments
  • GDPR
  • Drafting a set of documents

Successful cases

Challenge
Solution

Challenge

Establish an investment fund to manage cryptocurrency assets on behalf of users and issue tokens assigning usage rights to the holder

We provided legal advisory and developed a legal strategy for the fund structure, focusing on jurisdiction, required licenses, target number of investors and the minimum amount of investments to be raised.

Solution

We provided legal advisory and developed a legal strategy for the fund structure, focusing on jurisdiction, required licenses, target number of investors and the minimum amount of investments to be raised.

Implementation

Legal opinion on the client's activities

We prepared a legal opinion on: a) the legality of the Client's partnership marketing program; b) the program does not show any features indicative of illegal schemes for promoting goods and services, such as fraud, Ponzi scheme, Pyramid scheme, etc. We provided legal advice that allows the Client to implement his program in full compliance with local legislation, including that of Russia, Belarus, Ukraine, the EU, India and Singapore.

Corporate structuring

We supported the registration process of an exempted limited company and an exempted limited partnership to ensure the Client’s ability to operate as a private investment fund managing cryptocurrency assets of users. We prepared and applied for a private foundation license in the Cayman Islands, drafted the Partnership Agreement between the Client and its users and developed the fund’s Investment Memorandum for the Client.

In order to ensure that the Client's activities are compliant with the local AML/CFT legislation of the Cayman Islands, we drafted in-house guidelines outlining the Client's measures to verify the AML compliance of its users.

Privacy Policy

Our lawyers conducted a due diligence of the Client's compliance with European legislation on the protection of personal data, drafted the Privacy Policy and in-house guidelines on the Client’s data protection measures in accordance with GDPR requirements.

Challenge

Legalization of a P2P cryptocurrency exchange

Terms of use

AML Policy

Privacy Policy

Solution

Terms of use

AML Policy

Privacy Policy

Implementation

Terms of use

We developed the Terms of Use for the Client's service, outlining: a) interaction with users regarding the exchange of cryptocurrency through the Client's service; b) the risks of using the Client's service in order to reduce the Client’s liability to the user and creating a legal framework for specific features in the relationship between the Client and the user. Detailed regulation of relations makes it possible to minimize conflicts between the user and the Client regarding use of the Client's service.

Anti-Money Laundering (AML) Policy

Our lawyers developed in-house AML guidelines outlining ways and means to implement AML measures in relation to the Client’s users, and also issued recommendations on how to implement certain measures to be taken when interacting with users through the Telegram bot.

Privacy Policy

Our company provided the Client with legal advice on the legal protection of personal data of users, including the development of the Privacy Policy in accordance with the GDPR, the legislation of the Russian Federation, and Singapore law on personal data processing.

Challenge

Extend the Client’s footprint in the Russian market

GMT Legal's lawyers analyzed the services provided by the Client for compliance with the current legislation of the Russian Federation in the sphere of digital assets and digital currency regulation.

(*the service was rendered until January 1, 2021 – prior to the entry into force of the Federal Law on Digital Financial Assets).

Solution

GMT Legal's lawyers analyzed the services provided by the Client for compliance with the current legislation of the Russian Federation in the sphere of digital assets and digital currency regulation.

(*the service was rendered until January 1, 2021 – prior to the entry into force of the Federal Law on Digital Financial Assets).

Implementation

Formalization of the Client's relationships with international partners

Based on the results of the analysis, GMT Legal's lawyers prepared a legal opinion outlining the compliance of the Client's activities with the current legislation of the Russian Federation, including the Civil Code of the Russian Federation and Federal Law 259-FZ, “On Raising Investments Via Investment Platforms and on Amendments Made to Certain Legislative Acts of the Russian Federation” (the “Crowdfunding Law”) dated August 2, 2019.  This opinion enabled the Client to formalize a partnership with the Mastercard international payment system.

As a result of the joint work of GMT Legal and the Client, Russian users were able to acquire digital assets and digital currency using ruble-denominated debit/credit cards, thereby greatly simplifying exchange operations and making them more accessible to a broad range of users.

Challenge

Legalization of cryptocurrency exchange business with the rollout of a new crypto exchange

In line with the provision of legal services, GMT Legal carried out work aimed at developing an integrated business system for the Client.

Solution

In line with the provision of legal services, GMT Legal carried out work aimed at developing an integrated business system for the Client.

Implementation

Corporate structuring, licensing

As part of preparing the legal opinion on corporate issues, we helped the Client choose the most appropriate jurisdiction for the implementation of his activity.

We fully supported and completed the processes for: 1) compiling and submitting applications to obtain a Virtual Currency Service Provider License, 2) drafting in-house AML/FT guidelines, required by the current AML/FT legislation of Estonia and cooperating with the Financial Intelligence Unit.

Privacy Policy

We ensured the legal compliance of the Client's business with the GDPR, Singapore and Russian personal data protection legislation, including the development of the Privacy Policy and in-house guidelines outlining the procedure used by the Client’s employees for personal data of users.

Formalization of the Client's relationships with international partners

We prepared a legal opinion describing the possibilities of the Client’s relationship with his Nigerian partner to expand his business in Africa through a joint venture arrangement. We also prepared the necessary legal documents, including a Memorandum of Understanding, a Shareholders Agreement, and extended Articles of Association to protect the Client’s interests.

Challenge

Legalization of a blockchain project

Our lawyers defined the legal nature of the relationship that arises when creating the blockchain project and developed the corporate structure of the companies that work with it.

Solution

Our lawyers defined the legal nature of the relationship that arises when creating the blockchain project and developed the corporate structure of the companies that work with it.

Implementation

Preparing Token Sale Agreements

In order to strengthen the Client’s relationship with its contractors and users, we developed legal agreements, including the Token Sale Agreement, the Future Token Sale Agreement, the Customer Token Promoters Agency Agreement, and the Software Development Contract, which regulates the relationship between the Client and his customer for the creation of new products based on the Client's blockchain project.

Preparing Token Legal Opinion

GMT Legal verified whether the client's token has securities attributes in accordance with current law, including the securities market legislation of Singapore, Hong Kong and some other countries, and in accordance with some American tests to determine the investment nature of relations, including the Howey Test.

Corporate structuring

Our lawyers supported the registration process of private limited companies in the Seychelles and the Cayman Islands for the Client, including the preparation and submission of applications, the development of Articles of Association and interaction with local authorities regarding company registration.

Challenge

Ensuring legal protection and defense of intellectual property of the Client's group of companies

Trademark registration. Protection of trademark rights, participation in the Chamber for Patent Disputes and in court.

Solution

Trademark registration. Protection of trademark rights, participation in the Chamber for Patent Disputes and in court.

Implementation

Trademark registration.

Conducting a preliminary search to determine the presence of identical or confusingly similar designations or trademarks in the jurisdictions chosen by the Client (the USA, the EU, the UAE, Egypt, Singapore, Japan, etc.).

Legal support in the process of trademark registration of enterprises belonging to the Client's group of companies in over 50 countries worldwide, using national and international registration systems.

Registration of the right to dispose of a trademark.

GMT Legal's lawyers drafted and registered the following agreements both in Russia and abroad:

  • exclusive and non-exclusive license;
  • trademark pledge worth several billion rubles;
  • alienation of trademark rights. 

Protection of trademark rights, participation in the Chamber for Patent Disputes and in court.

In order to obtain the legal protection of the Client's trademark, our lawyers prepared and submitted an objection to the Chamber for Patent Disputes to challenge the decision on refusal to grant state registration to a trademark.

Pursuant to this action, lawyers also supported the process of divisional trademark application and litigation for the early termination of the legal protection of a trademark in the Intellectual Property Court.

GMT Legal's lawyers provided full support in court proceedings related to the recovery of funds for the illegal use of the Client's trademarks in Russia and CIS countries.

Challenge

Optimization of intellectual property rights, their judicial protection and the procedure for the transfer of rights

Preparation of a legal opinion, analysis of tax legislation, preparation of relevant legal mechanisms.

Solution

Preparation of a legal opinion, analysis of tax legislation, preparation of relevant legal mechanisms.

Implementation

When providing services to the Client, we prepared a comprehensive legal opinion containing the practice of applying the norms of Russian legislation regulating the methods of ownership and disposal of intellectual property rights, as well as analyzing the tax legislation of Russia in order to minimize the tax burden applicable to such methods.

As part of the conclusion, for the sake of comparison, we considered and presented the methods of ownership and disposal of the intellectual property rights using the example of other Russian holdings that operate in the Russian Federation (X5 Retail Group, Mail Group, etc.). 

Our lawyers provided legal mechanisms aimed at minimizing the risks of a breach of the Client’s exclusive rights and centralizing the intellectual property rights protection process.

The conclusions made it possible to protect and defend the exclusive rights of the Client as a holding company more promptly and efficiently, which, in turn, favored and enhanced compliance with national interests of the Russian Federation.

Challenge

Creating the structure for a future video game developer and publisher

Selection of jurisdictions, preparation of the necessary documents

Solution

Selection of jurisdictions, preparation of the necessary documents

Implementation

The United Arab Emirates was selected as the main jurisdiction, and the Russian Federation was chosen as the base for development (with the benefit of a tax holiday for IT).

In addition, we prepared documents for a group of companies and registered legal entities.

The UAE was selected due to its zero-rated tax, as well as the ability to conduct legal business outside the offshore zone, while another advantage is also the fact that the director’s permanent presence in the country is not required to carry out his or her activities.

Among the drafted documents, special attention was paid to the Shareholders Agreement, according to which the rights of the company's shareholders, both the investor and the participants, were as transparent and protected as possible. The document envisaged all the interests and concerns of the parties, was negotiated by them at all stages and was accepted for signing.

Additionally, we developed a publishing contract with a special modular structure, which the publisher could apply depending on the agreements with the developers, without amending the structure and substance of the contract, but by simply rearranging and/or adding the necessary blocks.

In order to protect intellectual rights, we analyzed the game names with a view to using and registering them as trademarks in Russia.

The company commenced its operating activities.

Challenge

Developing documents for an innovative gaming project with the ability to convert the points scored into real money with a referral system

End User License Agreement, Personal Data Processing Policy and cookie notice.

Solution

End User License Agreement, Personal Data Processing Policy and cookie notice.

Implementation

We developed the documents for an innovative multiplayer game project with the possibility of converting points scored to the Client’s service - the License Agreement for use of the service, the Privacy Policy and Cookie notice.  

According to the developed documents, the Client’s service is protected against illegal actions of users and against inspection bodies.

The Client also received a work scheme for his future products, which he plans to expand.

Also, using the implemented work scheme, the Client will not violate the rules and guidelines of the sites on which he plans to distribute the products – App Store & Google Play.

What we do

Сreate working legal schemes
holding structures, a group of companies
Prepare legal opinions
on cryptocurrency projects or any other
Register companies all over the world
and open bank accounts
Devise tax planning
and assist in receiving benefits
Develop and implement personal data processing documents
compliance with GDPR requirements and another legislations
Protect intellectual property
(trademarks, software and databases, any copyright objects worldwide and their licenses)

Partners

Message from the Managing Partner

Andrey Tugarin
Andrey Tugarin
Contact me:
Andrey Tugarin

In recent years, business has undergone a major transformation, while global digitalization and the prevalence of IT technologies require speaking with them in the same language.

However, no matter how much one would like, the rules of the game are still established by laws. Since 2015, the GMT Legal team has been striving to improve its professional skills every day to provide clear and transparent legal support for both beginners and large businesses.

Our mission is to offer legal solutions that are compliant with the law, provided that the interests of each client are fully protected.

Contacts

Moscow, Russia

Address: 101000, Moscow, Armenian lane, 7; Phone: +7 (495) 646-646-3

Saint-Petersburg, Russia

Address: 197101, St. Petersburg, Leo Tolstoy street, 1-3

Contact us