What does a foreign citizen need to start a business in Russia? Are there any restrictions? May a foreigner carry out business activities in any sphere? We’ll try to answer these questions in this article.
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Firms, companies, organizations and individuals can be founders of limited liability companies in the Russian Federation. But they are not necessarily residents of the country. Registration of LLC for a foreign citizen has its own characteristics.
The Russian Federation as every other civilized country, does not limit foreigners legally living in the country, in law to conduct business. Moreover, for attracting foreign investments, business in Russia for foreigners is governed by the same rules as for Russians. Still, there are nuances. We will review them in more detail.
The two most common options for foreign companies to operate in the Russian Federation are affiliated branches and limited liability companies.
Because of the complications and peculiarities of the registration process for foreign companies in Russia this process is hard and long. You need to know specific of legislation, requirements to the documents and other things. All the documents have to be notarized locally, by notary present in Russia. Otherwise, the documents can be notarized in the country of shareholder but in compliance with legislation.
Individual Proprietorship for temporary residents: how to set up a business in Russia by a foreign national
Russia is interested in bringing foreign investments as never before that’s why the registration of a business has been considerably simplified in later years. The citizenship doesn’t matter now and the procedure is the same for everybody. The place of residence has a key role now. It relates to Individual Proprietor registration by foreigners with temporary residence permits as well.
As Russian Federation received government sovereignty, it began developing market economy. This was what attracted investments into the country and served to bring capital from other countries. For foreign businessmen it is important to know the legal base and be acquainted with laws concerning the actions a foreign legal entity may do in RF.
If you come to Russia, you have a lot of ways to build your life. You can find a job, and then your employer makes a visa and work permit for you. But a lot of ambitious people once decide to start working on their own. But what should your first steps be like?
Russia provides many opportunities for foreign companies that want to enter Russian market. The first thing the company has to do is to register it according to The Civil Code and the Tax Code of the Russian Federation. Is it always obligatory? Are there any exceptions? How to deal with permanent representation of a foreign company? We’ll try to answer these questions in this article.