Foreign companies will be able to get license in Russia without setting up a legal entity
Ministry of economic development of the Russian Federation has prepared a draft law that will allow foreign companies to obtain necessary license for doing business without setting up a legal entity.
In accordance with current legislation a foreign company is bound to create legal entity in Russia – a subsidiary first of all in order to be able to apply for license.
Legislative amendments will equalize the rights of foreign companies in Russia with domestic companies in the issue of obtaining licenses, namely:
- will enable foreign companies to carry out activities that require a license, without setting up a legal entity;
- it will be possible to obtain a license based on the registration number in the accreditation register.
Thus, a foreign company will be entitled not to set up a branch or representative office in the Russian Federation and will be able to immediately pass the accreditation procedure and thereby acquire the right to obtain a license. It should be noted that the reduction of administrative barriers is provided for 52 types of business activities.