\ Start up your Business in Russia
Start UP in Russia
In today's capital can move freely from one country to another in search of the most favorable regime for their use.
The decision to start a new business or extend and enlarge the existing business is not an easy one. In case Russia is the target place for this it makes the decision even more difficult due to negative image of Russia supported worldwide. But those already doing their business in Russia know that there are great business opportunities for foreigners in Russia.
Don't let prejudices keep you from launching your business in Russia. Let me help you get off to the right start in Russia.You get everything you need from one hands with years of successful experience. No running around to find ten different specialists, no multiple contracts, no problems with coordination. You are provided with precise budgets and you know ahead of time how much it will cost to start your business - no unexpected expenses.
What is included in the start up services?
- Legal and tax analysis of your plans which is necessary to determine the appropriate corporate structure, necessary other actions to launch the business, like compliance with immigration, licensing, certification and other requirements of the Russian legislation and authorities. During this consultation you may obtain understanding how the business in Russia will be financed and how you /your company can obtain revenues from the Russian business. The consultation may be provided in writing or orally by phone or skype
- Registration of an entity
Once you made up your decision on the entity to be registered in Russia you are provided with detailed instructions on documents preparation. Unfortunately, official foreign documents for the registration will require your efforts to obtain – I may only instruct and consult you on the appropriateness of the documents and authorities where the documents may be obtained as I have experience in working with Clients from different countries. I will provide you all drafts of the documents required for the set up of the Russian company to be prepared/signed by the shareholders.
Good news for individual shareholders- to register the entity they require their passport only, no other documents from their country. Other documents I will prepare for you to sign.
Application and some other documents require notarization in Russia - I will instruct on the process and will appoint efficient visit to the notary.
The process of registration will also include:
- Obtaining of Statistics Certificate
- Production of stamp
- Liaison with a bank to open accounts
- Obtaining of necessary notifications on registration and duty tariffs from Social Insurance and Pension Fund
The following entities are generally registered in Russia:
- Limited Liability Company
- Closed Joint Stock Company
- Branch office of a foreign legal entity (for companies only)
- Representative office of a foreign legal entity (for companies only)
You may find more information on the corporate registrations in our Overview of the Russian Corporate Law and Comparison of mainly registered entities.
- For any entity in Russia the authorities and banks require confirmation of real rent/ownership of the office premises in Russia. Virtual addresses or addresses where lots of companies are registered without provision of fixed office space will result in refusal in registration and/or account opening. So office is vital for registration and it is advisable to start negotiating the address with the landlord in advance.
- Application and Resolution for registration of a Russian company will require signing by all shareholders/Directors of shareholders simultaneously before a notary (in Russia or outside) or Russian Consul.
- A candidate for General Director is not a “nominal” one. Foreign Director of the entity will (in most cases) require work permit. Without it foreign national Director may not be legally capable. The process of obtaining work permit depends on the type of work permit and may last from 3 weeks to 4 months. Please refer to immigration overview to make up a decision on necessity of a temporary Russian national Director.
- Appointment of accountant other than Director of the entity is necessary for all entities owned for more than 25 percent by corporations.
- Immigration services in case foreign national Director and/or employees are to work in Russia
- Accounting and Tax Reporting support for first three months. Please note that accounting and Tax reporting is required from the first day of life of an entity even if there is no activity and employees (although there is always 1 employee – Director).
- HR/Payroll support for first three months. Documents supporting employment/dismissal/work attendance/business travelling by employees are to be made according to Russian standards to be admissible for accounting and legal purposes.
Fees for the start up services will depend on the shareholding, location of the entity, operations of the entity, number of employees and number of services to be ordered. So, please write to me to get full fee proposal. Preliminary example of fees you may find on fees and costs page.