The opening of an LLC by a foreign citizen from an unfriendly country
In 2023, both citizens of the Russian Federation and foreigners can open a company in Russia, even if they are citizens of states that are included in the list of unfriendly countries, which is approved by the Government of the Russian Federation.
What is necessary to register an LLC:
To submit documents to the Federal Tax Service, you will need to prepare the following:
- Form P11001 (application for registration of a legal entity)
- Resolution on the establishment of a legal entity
- Company’s Articles of Association
- A notarized copy of the passport
If a foreigner wants to open a company without personal presence, then it is additionally necessary to issue a power of attorney and notarize the form P11001 and the power of attorney.
After submitting the documents to the Federal Tax Service, the company will be registered within 5 working days.
After the opening of the company
A legal entity whose participant is a foreign citizen (including citizens from unfriendly countries towards Russia) has no restrictions for conducting its activities. It has the same rights and obligations as other organizations, can open bank accounts in any banks and operate within the framework of Russian legislation.
It is worth noting that if a foreign citizen from an unfriendly country decides to make a deal with a stake in a Russian LLC, then it is quite difficult to do this in the current situation, because there is a restriction on transactions of this kind. To make a deal with a share, you must first obtain the permission of the Government Commission. It may take a lot of time to formalize this permission, it is also necessary to collect an extensive package of documents, for documents in a foreign language it is mandatory to receive an apostille and a notarized translation.
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