The Russian market is flourishing and venture-capital. The availability of vast opportunities for making a profit in numerous business fields attracts foreign investors. A growing number of foreign enterprises currently wish to set up companies in the Russian Federation. At that, the market is characterized by a row of legal and economic peculiarities necessary to be taken into account in the process company registration in Russia.
Choosing an investment pattern
When opening a company in Russia, the first stage is defining an investment pattern, i.e. deciding where to invest money. The difficulty of company registration procedure depends on the chosen pattern. For example, in the event of forming a company, which will specialize in the production, refining and sale of natural resources, it is obligatory to obtain special permits issued by authorized government bodies.
On the other hand, such fields as tourism, agriculture, high-tech industry, engineering, medicine, and the production of building materials are currently priority investment patterns in Russia. Therefore, the process of registering an enterprise to be engaged in one of these fields is easier.
Rules of choosing legal status and company name
One of the primary stages is the choice of name and legal status. The legal status depends on the number of owners and corporate objectives of the registered company. In some cases, the choice can be limited by applicable legislation depending on the business line of the future company. The company name shall be original. It is prohibited to use the name applied by another company. At that, the name shall conform to other requirements stipulated by Russian civil and business law.
Documentation package preparation and submission of an application for registration
The next stage is the preparation of documents necessary for company formation in Russia and presentation of these documents to the registration agency. The documentation package includes such documents as an application for registration, receipt for payment of the state duty and other documents. The package can change for each case. It is important to know that in case the documentation package is incomplete or any document is not duly drawn up, the company registration will be refused.
Dealing with financial matters
The final stages of incorporation in Russia are registration with a tax authority and local social protection department and establishing cooperation with a bank, insurance company and other financial organizations. Difficulties and delays can occur on each of these stages.
Applying to professionals as a way to simplify registration procedure
Russian investment legislation is currently at the development stage and contains a row of gaps. Besides, difficulties can occur in the process of company formation in Russia since not all legal provisions are applied in practice.
Specialized companies for foreign investors provide enterprise registration services in the Russian Federation. It is advised to apply to single purpose registration companies since they support customers on all stages of opening enterprises, enter into contacts with state agencies, public and private organizations. Specialized companies for foreign investors have many years’ work experience at the Russian market and can help customers register enterprises within the shortest terms possible and avoid legal difficulties.