Open a company in Russia
Russia is a country with one of the world's largest economies and significant financial potential. The economic strength of the country has been attracting crowds of foreign investors for many years, who are seriously interested in locating their capital and business here. From the perspective of a foreign investor, it is important that there are several special economic zones in Russia that encourage investment decisions. The most important industry sectors in which entities with foreign capital invest include: industrial production, technology and development, logistics and tourism.
Although the Russian Federation is often perceived as a country that generates certain challenges, the Russian authorities are making intensive efforts to continue to implement policies that encourage foreign investment. First of all, it takes place in such business areas as innovations or technological solutions.
Our lawyers in the Russian Federation with great willingness and commitment can help you invest funds in this country, as well as understand the extensive legislation that regulates business activity. Moreover, if you are interested in relocating to the Russian Federation, please contact us and our immigration lawyers in Russia will help you achieve this goal.
The procedure for setting up a company in Russia
The time necessary to register a company in Russia is 11 days under the current legal conditions, if all the required documents are submitted correctly. There are nine steps to follow before registering a new company in the Russian Federation. Before starting this process, the investor can choose the legal form of the business entity that he or she wants to register. The range of possibilities in this area includes such types of companies as:
- sole proprietorship
- partnership (limited partnership or general partnership)
- capital company (limited liability or joint-stock company)
In the event that the investor decides to open a limited liability company or a joint-stock company, it is required to pay the minimum share capital, which currently amounts to 10,000 rubles for the first type of company and 100,000 rubles for the second type.
Important information is that Russian law provides for the possibility that foreign companies may open a branch or representative office in the territory of the Russian Federation. From a formal and legal point of view, each type of company must be registered by the Russian authorities. In addition, branches and representative offices must also be registered with the tax office for foreign companies.
The government of this country is making intensive efforts to support new business through various types of benefits. Practice shows that there are indeed dedicated bodies that ensure a smooth connection of the lines between the government and the business sector. The most important of these agencies is the Investment Advisory Board.
If you are planning to open a company in the Russian Federation, and for some reason you cannot be physically present in the country, our lawyers in Russia will be happy to assist you in the entire registration procedure using the power of attorney. We can also guide you if you are interested in immigrating to Russia and moving the center of your life interests to this country.
Stages of company registration in Russia
Foreign investors who are interested in registering a company in the Russian Federation must follow these steps, regardless of the type of company they choose:
- prepare documents concerning the establishment of the company: founding act and articles of association;
- sign a lease agreement to obtain the company's seat;
- open a bank account to which the share capital will then be deposited before starting the company registration process;
- pay the registration fee for setting up a new company and obtain a receipt, which must then be filed with the Commercial Register;
- file all the above-mentioned documents with the Commercial Register and obtain a Company Registration Certificate;
- the final stage is to register for tax purposes, including VAT, as well as social security with the relevant tax authorities.
Eberhard Advisory lawyers will also be happy to help you obtain EORI numbers in the Russian Federation.
How long does it take to open a company in the Russian Federation?
In the process of registering a new company in Russia, the following processing time for documents forming a new business entity should be taken into account:
- preparation of statutory documents - 1 day
- registration in the Commercial Register - from 2 to 5 days
- registration for tax purposes - from 4 to 7 days
- obtaining a company seal - from 2 to 5 days
