How do I register as an LLC in Russia?

Registration of LLC in Russia

1. Step 1: Determine how to register LLC in Russia.
2. Step 2: Determine the specifics of the business.
3. Step 3: Fill in the application form P11001.
4. Step 4: Pay the state fee.
5. Step 5: Define the tax regime.
6. Step 6: Collect the required package of documents and submit it to the relevant authority.

How do I set up an LLC in Russia?

12 Steps to Open a Company in Russia

1. Determine the Amount of Registered Capital.
2. Drafting of the LLC Charter.
3. Hold a General Meeting.
4. Obtain Notary Translations of Documents.
5. Legalization or Apostille of the Necessary Documents.
6. Submit the Registration Form and Documents.

Are there LLCS in Russia?

A Russia Limited Liability Company (LLC) qualifies for many benefits including: limited liability for its members, only one member required to form a LLC, issuing shares is optional, privacy afforded with nominee shareholders, and a member can easily withdraw if the company charter allows it.

Can a foreigner Register Company in Russia?

Yes, any foreign national (non-resident) is entitled to register a company in Russia under Federal Law On State Registration of Legal Entities.

How much does it cost to register a company in Russia?

Fees

Different Russia entity types	Cost	Draft Invoice
Limited Liability Company (OOO)	US$17,960	View invoice PDF
Nominee LLC (fast solution)	US$40,740	View invoice PDF
Joint Stock Company	US$16,660	View invoice PDF
Branch of a foreign company	US$19,760	View invoice PDF

What is LLC in Russian?

A limited liability company (“obshchestvo s ogranichennoy otvetstvennostyu” – an “LLC”) is designated by the abbreviation “OOO” or “LLC” before or after its name. It is one of the simplest forms of a Russian legal entity and is often used by foreign investors for a wholly owned subsidiary.

How do I register a company in Russia?

In order to register company in Russia, it is necessary to have the amount of at least 10000 rubles to be contributed to the bank account as being the charter capital. Document setting forth the level of distribution of capital shares between all the founders of the LLC.

What is OOO in Russian?

An OOO (in Russian “Obchtchestvo s Ogranitschennoy Otvetstvennostuy”) is a company with limited liability, whose charter capital is split into shares. It is a form of commercial legal entity established in Russia that obtains its legal capacity through registration with the respective state authorities.

What does Zao mean in Russian?

A JSC can be either ‘open’ (OJSC), meaning publicly held (Russian abbreviation – OAO), or ‘closed’ (CJSC), meaning privately held (Russian abbreviation – ZAO). Foreign companies often use LLCs to conduct wholly-owned businesses in Russia.

What is individual entrepreneur in Russia?

Illegals status of individual entrepreneur is determined by the Civil Code of the Russian Federation. An individual entrepreneur is an individual who performs business activity without establishing a legal entity, and is registered in accordance with the law.

How a foreigner can start a business in Russia?

Any Russian or foreign individual (or company) can be a founder or shareholder of any number of Russian OOOs, although to be a board member or director you will have to have the necessary visa and/or residence permit to live in the country if you are a foreigner.

How easy is it to set up a business in Russia?

The easiest and cheapest option is to register a business as an individual entrepreneur.Three days after submitting an application with the public services center, you will receive an excerpt from the Unified State Register of Individual Entrepreneurs and will be able to work in Russia.

What do I need to know before starting a business in Russia?

5 things to know about Russians before doing business with them

• An unusual view on personal space.
• Understanding of one’s emotions.
• Work well under pressure.
• Highly suspicious at first.
• Always be ready for change, and adapt.

Do businesses thrive in Russia?

As a share of GDP Russia’s corporate profits come in around 14% — more than twice the level in China and compared with 8.5% in the United States. A recent survey of chief financial officers by Deloitte showed businesses are expecting more of the same in 2020.

What is LLC considered?

A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.

What is a limited liability company in business?

A Limited Liability Company (LLC) is a business structure allowed by state statute.Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members.

What is closed joint-stock company?

A joint-stock company is a business entity in which shares of the company’s stock can be bought & sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership).

What are the risks of doing business in Russia?

Overseas Business Risk – Russia

• Political and economic context.
• EU sanctions.
• Human rights.
• Bribery and corruption.
• Terrorism threat.
• Protective security advice.
• Intellectual property.
• Organised crime.

Is Russia a good place to start a business?

Russia is not the perfect place for business, but it’s a lot better than the casual impression I had before visiting Moscow and meeting with many business and academic professionals. Business leadership in Russia is transitioning from people raised in the Soviet era to people raised post-Soviet.

How do I find out if a company is registered in Russia?

The business information on the Russian companies is available at the resources of the Interfax Agency – http://spark.interfax.ru (for free as a guest, as a registered user – by subscription; English version is available) and at www.finmarket.ru.

What does IP stand for in Russia?

Other status. Individual entrepreneur