Setting up a company in Russia is an important step for any foreign business aiming to enter the local market. While the process can seem complex, a clear understanding of legal and administrative requirements makes it manageable. Below is a concise guide to help you navigate the registration process.
- Choose the Legal Structure
The most common legal form for foreign businesses is the Limited Liability Company (ООО). It offers flexibility, limited liability for founders, and is widely accepted by local partners and authorities. - Choose a Company Name
The name must be unique in the Russian market and can be in Russian or another language (with a Russian translation). It must not contain prohibited or misleading terms. - Prepare the Founding Documents
You will need to draft the company’s Charter (Устав), prepare the decision to establish the company, and provide notarized copies of passports and powers of attorney for foreign founders, if applicable. - Register the Company with the Federal Tax Service
Submit the application (Form Р11001) and all supporting documents to the local tax office. As of 2024, electronic submission with digital signatures is allowed and often faster. The registration process usually takes 3–7 business days. - Obtain an INN and OGRN
Once registered, your company will receive a Taxpayer Identification Number (INN) and a Primary State Registration Number (OGRN), which are essential for operations, opening a bank account, and hiring employees. - Open a Corporate Bank Account
Choose a local bank and open an account using your registration documents. Some banks require in-person visits by the director or founder; others allow remote onboarding with verified documents. - Register with the Social Insurance Funds
You must register your company with the Pension Fund, Social Insurance Fund, and the Compulsory Medical Insurance Fund within 30 days of hiring your first employee. - Get the Necessary Licenses (if required)
Some business activities in Russia require special permits or licenses (e.g., pharmaceuticals, construction, or education). Ensure your business is compliant before operations begin. - Hire Local Staff or Appoint Representatives
You can hire employees directly or work through an Employer of Record. Make sure all labor contracts comply with the Russian Labor Code. - Stay Compliant
Maintain accounting records, submit tax reports regularly, and ensure your business remains in good standing with local authorities. Consider engaging a local legal or accounting advisor for ongoing compliance support.
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