Blog Starting Business In Russia
Every firm from abroad that is going to start commerce in Russia is obliged to register its local office here. According to current legislation, foreign firm in Russia can register a branch, a representative office, or LTD. After it is registered, a foreign business can legally sell their goods or services here, as well as trade without intermediaries. Each of the above structures has its pros, cons, and limitations. Therefore, depending on the goals set, one of these forms may be preferable.
Non-resident is an individual who lives in the country for at least 183 days a year but is not a citizen. As a rule, these are foreigners, sometimes we are talking about stateless people. The basic law that governs the activities of non-residents is Federal law «Concerning the Legal Status of Foreign Citizens in the Russian Federation». It does not provide for significant restrictions on entrepreneurship.
Contents: Legal aspects Advantages of cooperation with foreign contractors Search for foreign contractors Preparation for work with foreign contractors Features of concluding foreign economic contracts Features of working with counterparties from unfriendly countries Features of monetary settlements with counterparties from unfriendly countries Legal aspects Cooperation with foreign partners is a…
Contents: How much does it cost to register a company in Russia? Legal address Authorized capital Payment account Production of the organization’s seal and EDS Installing the cash register License for certain activities Other expenses The cost of opening a company in Russia can vary significantly depending on various factors,…
Establishment of the company with using foreign capital is the important factor in economic development and in foreign investments attraction. This step will produce significant prospects and benefits both for the country, which start the opening process, and for foreign investors.
The authorized capital is the minimum amount of property that guarantees the interests of creditors, contributed by one or more founders to the company’s account. If there is only one founder in the company, then when it is registered, the entire amount of the authorized capital is paid only by him. If there are several founders in an LLC, then the authorized capital is paid by them in accordance with the shares determined by minutes on the establishment of the LLC or the founding agreement.
Registration of a limited liability company is the creation of a new legal entity, which is associated with the collection and registration of the necessary documents and the deposit of the authorized capital to the settlement account. You can register an LLC either personally or with the participation of a third party. In this case, the applicant will need a power of attorney.
A joint venture with a foreign participant is a legal entity formed by merging the capitals of a Russian legal person and a representative of another country. The incorporation of such company is traditionally viewed in a positive way, as it allows attracting foreign capital and foreign technologies to Russia.
Starting a Limited Company can be a strategic leap for budding entrepreneurs or sole traders aiming for more robust business structures. The process involves several essential steps and considerations that pave the way for a resilient and legally recognized business entity.
