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Considering the ease of doing business in Russia, entrepreneurs from around the world are eager to set up a company there. It involves going through a dedicated set of process before you can establish a company there. If you desire to set up a company abroad, then Russia should be among your top choices. In this article, we have explained why you should apply for registration of company in Russia and also brief you about the registration process.
Russia is the largest country in the world, with excellent infrastructure and slew of opportunities on offer for professionals. It’s quite a prominent place to do business, and in this segment, we tell you why you should register your company there.
Due to the lack of complex formalities, companies can be incorporated easily and quickly in Russia. Registering a company there involves simple formalities.
The taxation system in Russia is appealing for investors therefore, many international entrepreneurs are attracted to invest in this country.
Russia is known for its highly skilled workforce which plays a major role in attracting entrepreneurs around the world.
Russia is the leading country in exports when it comes to certain products. It is also one of the largest exporters of oil.
The government in Russia offers different forms of attractive incentives to companies to operate there.
As compared with many western countries, the cost of living in Russia is cheap. The cost of employing skilled labour is also low.
The following are the types of companies:
As Limited Liability Company is the most common form of company incorporated in Russia, we have provided the step by step process to register a Limited Liability Company in Russia.
Firstly, the applicant needs to reserve the name of the LLC and such name should be unique and it should not conflict with any other name.
The applicant shall select a registered office of the business.
Once the capital of the company is determined, the charter of the LLC must be drafted, which will include drafting the MOA. Additionally, the rules and the bye laws of the company will be determined in the AOA.
All documents need to be in Russian and should be notarized by the notary. If the documents are not in Russian, then it needs to be translated.
You can fill registration form online as well as offline. The applicant will also need to pay a specific amount for registration.
All documents need to be submitted with the registration form, and it can be submitted electronically or manually.
When the form and documents are submitted successfully, the authority will review the application, and in case the authority is satisfied with all submissions, it will register the company.
The following documents are required:
The process of company registration in Russia is less complex therefore, entrepreneurs can easily register their company in Russia. As per the need of the entrepreneurs, they establish either a Limited Liability Company or Branch Office etc. However, just registering the company is not enough, but there are certain post registration compliances like opening of bank account, adhering to the local laws etc. that also needs to be done.
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