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Establishing a business in Russia

What do you need to know and do in order to set up your business in Russia?

Article of Organization
In order to establish a company it is required to have an Article of Organization. It is the company’s most important document. In Russian, it translates to “regulations of organization.”
The company must have the Article of Organization before starting the registration process.  The “Regulations of organization” is a volume document and all of the organization’s future business activities must itemized within. If any activity is not listed in company’s “regulations of organization”, the organization may not participate in that particular activity.

After the company has it’s “Regulations of organization”, it is ready to go through process of registration.  The company must register with the:

  1. Chamber of Registration in every city
  2. Local tax agency.
  3. Social Security fund
  4. Pension fund
  5. Medical fund
  6. Statistics organization (to obtain a classification code for your organization). It is a very important to get a right code because the taxation of the company depends on this code.

 

After registration the above listed government organizations, the company mush hold a shareholder’s meeting and approve the company’s General Director (CEO) and Accountant (CFO).
Then you may open a company bank account.

There are many municipal and private banks in Russia

Documents and common requirements for opening the company’s bank account

  
 
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