Foreign business: ways to work in Russia
Foreign companies and citizens can open a business in Russia.
There are many foreign companies operating in Russia. Depending on the needs of the business there are several types of its design. Let’s consider the main ways of working for foreign business in Russia.
In accordance with the current legislation, foreign companies and citizens are free to open a business in Russia. Next, let’s look at the main types of business creation in Russia.
1. Creation of an LLC by a foreign founder.
Foreign companies and citizens can establish an LLC. This is the easiest way to start doing business in Russia
The package of documents for registration will be the same as that of the Russian founder. The minimum amount of the authorized capital is 10,000 rubles. Foreign documents must be translated into Russian. To work as a director of an LLC, a foreign citizen must have a work permit.
2. Acquisition of a share in an LLC by a foreign founder.
A foreign company or a citizen can acquire a share in an LLC. To do this, there should be no restrictions on the transfer of shares in the Charter. The contract of purchase and sale of a share in an LLC must be notarized.
3. Establishment of a branch or representative office of a foreign company.
A foreign company may open a branch or representative office in Russia in order to find buyers and conduct promotions. A branch can engage in the same activities as the main company. The establishment of a branch or representative office is carried out through accreditation.
4. Registration as an individual entrepreneur.
A foreign citizen can register in Russia as an entrepreneur, but for this he needs to have a temporary residence permit or a residence permit.
5. Work through a Russian distribution company.
A foreign company can find a partner in Russia who will purchase products from it for subsequent sale in Russia. Registration with the authorized bodies is not required for such activities.