Process of company registration in Russia
The process of company registration seems rather complicated to those who’ve had no dealings with Russian law. We described the process for foreign companies as well as private investors.
You can watch our video or read the article.
Basic steps for company registration in Russia
Starting a business in Russia or entering the Russian market is done in 3 basic steps for both individuals and companies:
- Document preparation in the country of residence, document translation, notarization and apostillation (in the country of residence or Russia);
- Visit to tax authorities in Russia;
- Company seal making, bank account opening, registration with pension fund and social insurance fund.
1. Document preparation for company registration
Step 1 takes about 1 week for a private investor and about 1 month for a company. It takes longer for companies because individuals are only required to provide a passport for identification whereas companies need to collect several documents to confirm their activity.
These documents need to be notarized in the country of residence or in Russia.
Both private investors and companies need:
- Choose the type of legal entity they want to set up;
- Choose taxation scheme (general or simplified);
- Determine company activities;
- Determine how to finance their Russian legal entity;
- Set company name in Russian and foreign language;
- Provide company address (guarantee letter from owner or copy of title deed);
- Set share capital amount (minimum RUB 10,000).
1.1. Documents for foreign company
- Document confirming the foreign company’s registration in its country. Items that must be specified in the document:
- company’s address;
- director details;
- shareholder details;
- registration details;
- activity details (certificate of actual activity).
- Certificate of state registration;
- Charter (articles of incorporation) of the foreign legal entity or other document issued by an authorized body in the company’s country;
- Notarized copy of passport of the foreign company’s head with Russian translation;
- Document confirming the appointment of the foreign company’s CEO.
1.2. Documents for private investor
If the founder and the CEO are a foreign individual:
- Notarized copy of passport with Russian translation.
If the founder is a Russian national and the CEO is a foreign national:
- Copy of founder’s passport + Taxpayer Identification Number (INN) of Russian national;
- Notarized copy of passport of CEO with Russian translation.
2. Visit to Russian authorities
Step 2 is the visit to Russian authorities with all the documents required, so the founder of a new company must physically be in Russia at this point. It takes a week for tax authorities to register new companies.
A company may start operating as soon as tax authorities have processed the application for company registration and registered the company. However, the last step is then necessary for companies to operate.
3. Seal making, opening of bank account, registration with funds
Step 3 includes:
- Company seal making;
- Opening of bank account;
- Registration with pension fund and social insurance fund.
This takes about a week.
Accountor's company registration services
Our legal department is here to help and looks forward to assisting you in starting a business in Russia.
We assist companies at all stages of registration, with document preparation, visa issues, liaison with notary, state authorities and banks in Russia.
Thanks to our extensive experience with company registration, we can make the registration process as simple as possible for our clients. Our registration services allow avoiding unnecessary errors as well as saving money that could be lost in case of rejection of registration.
We look forward to providing you with more detailed information about business registration in Russia. Please feel free to contact us if you have any questions.