Our Attorneys Answer Your Questions About Starting and Running a Business in Russia
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How long does it take to register a business in Russia?
From the time you file all the proper documentation with the correct offices in Russia, you will usually only have to wait a few weeks until your business is official. Most of the time involved in the process happens before the filing—in the preparation of the required documents. However, with the assistance of the Jus Privatum team, even this stage of the process can be expedited and you can be confident that the applications will be accepted the first time they are submitted.
We Take Our Time to Make Sure Your Documents Are in Order
When you work with Jus Privatum to open your branch office or to incorporate a legal entity in Russia, we will not rush you through the most important stage of the formation of your business. We will take the time to help you draft legally sound documents that will provide you with the best possible management and tax structures. In the preparatory stages, we will do the following:
- Explain the Russian corporate regulations that apply to your situation.
- Help you understand the main provisions of the required foundation documents and how they may differ from those in the U.S. and the EU.
- Work with you to draft your Russian foundation documents so that they work to your greatest advantage.
- Make sure all of the documents have been properly executed.
- Provide notarization, legalization, and translation services for all documents.
This undertaking will take some time, as we will make sure you understand the process and that you are making sound business decisions based on Russian regulations and restrictions. Once all of the documents have been prepared, we will begin the procedure of filing them with the appropriate government offices.
Timing of the Next Steps in the Process
The registration of a commercial company takes five business days from the date of filing. Once this step is complete, you will be able to apply for a bank account at a bank of your choosing. Because the bank application process can be complicated depending on the bank and your situation, this can take anywhere from one to three weeks or more to complete.
If you are registering a branch or representative office, the approval process is longer than for a commercial entity because more governmental departments are involved.
Depending on the business activity you intend to pursue, applying for a license can add additional time to the process.
Finally, if the CEO of your corporation is a foreign citizen, he or she will not be able to begin working in Russia until he or she has secured a work permit and visa.
Potential Causes of Delay
With careful planning, professional preparation, and precise translating, most delays can be avoided altogether. Some of the mistakes that can lead to delays include:
- Translation errors.
- Lack of mandatory provisions in foundation documents.
- Use of blacklisted registered addresses.
- Other errors in applications.
When you work with our attorneys, however, you can be sure that none of these delays will occur. We find that, when the process is delayed, it is usually because the client is slow to return documents or respond to requests. In that way, the amount of time it will take is generally up to the client.
How We Can Help With the Process
With our attorneys handling the paperwork and helping to ensure that the documents are drafted properly and in accordance with the law, the risk of the registration being rejected by the registration office is minimized. Our attorneys are also able to answer any questions the client may have at any stage of the incorporation process. We will help the client create a time plan for the smooth start of his or her business operations in Russia. The corporate practice at Jus Privatum includes the full scope of services related to company formation in Russia, including:
- Drafting a set of registration documents tailored to the client’s needs.
- Providing a reliable registered address in Moscow, the Moscow region, or St. Petersburg.
- Registering the company with the authorized Russian state tax inspectorate.
- Manufacturing of the corporate seal.
- Registering the company with the necessary state extra-budgetary funds, such as the social security fund and the pension fund.
- Opening a bank account.
When you partner with Jus Privatum to open your branch office or legal business entity in Russia, you can be sure that the process will go smoothly and as quickly as it possibly can. Connect with us via the link on this page to find out more.