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Setting up a company in Russia

Setting up a company in Russia

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How to set up a company in Russia?

 

Three types of commercial entities exist and can be registered in Russia: LLC, CJSC, OJSC

(OOO, ZAO, OAO)

The most popular form of ownership is Limited Liability Company.

Minimum share capital amounts to 10,000 rubles.

There are certain requirements to the process of company creation, and due to the fact that

Russia is a bureaucratic country, a misprint in the completed documents can lead to denial in

company registration, and the state fee will not be reimbursed.

 

Banner:

We can properly fill in the necessary documentation: we have registered 736 companies by now.

 

If the founder is a non-resident individual.

You can be the sole owner of the company, even if you are a nonresident of the Russian

Federation. You may also be the company CEO, if you have permission to work in Russia. If

you do not have a work permit, the best way is to appoint a Russian citizen as a director, so that

you do not have to pay the fine for violating immigration laws- from 250.000 to 800.000 rubles. After the permit is received, you are free to appoint another person as a director. In order to prepare the necessary documents we need a notarized translation of your passport into the Russian language.

 

If the founder is a non-resident entity.

If you create a subsidiary, with the founder being a foreign entity, the procedure is slightly

different:

1. The founder company must have at least two people or companies as participants.

2. The constituent documents of the parent company must be apostilled (unless exemption

from these procedures is provided for by international agreements of the Russian

Federation), and translated. The translation must be notarized.

3. Documents of the newly created company shall be signed by the director of the parent

foreign entity.

 

Terms

 

Registration time will depend on how quickly you provide us the required documents.

 

After we have all the documents, the preparation period, as well as registration of the company

itself, will take about 10 days.

Next, you will need to open a bank account for the organization, which on average takes about

two days.

 

Cost

 

Preparation of the complete set of documents for company registration, as well as submission of

documents to tax authorities and obtaining the ready documents:

- 4000 rubies

- state fee 4000 rubies

- Notary's services 800 rubles

- Opening of bank account - 3000 rubies

 

Taxation

 

Companies in Russia have an opportunity to choose between two tax systems:

 

 

We can arrange the accounting for your company

from 12,000 rubies per month Banner

General taxation system

Income tax is 20%

Value Added Tax (VAT) 18%

 

Simplified taxation system:

Has limitations as to the company's turnover, in 2012 the limit is 45 million rubles.

You can choose between two options below in regard to the tax you are obliged to pay:

- 6% of the total income, i.e. revenue, or

- 10% of income minus expenses.

You can change the type of tax used in Simplified taxation system once a year, at the end of the

year.

You can shift from Simplified taxation system to General taxation system at any moment.

 

Payroll tax is:

 

36% of the amount of wages

Plus, with 13% are withheld from employee's wages as personal income tax.

 

To allow you to work quietly, without thinking about organization  

of accounting in a foreign country, you always have the option to contact us.

 

Currently in Russia there are about 22,000 companies with foreign participation.*

GDP growth forecast for 2012 is 4%, while in Europe the figure is near zero. Prospects for Russian economy are most optimistic, so do not miss your opportunity.

Please contact us today and we will proceed to legalization of your work in Russia.

 

 * According to ... "Trade secret"