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Important to know about Russia
Companies

According to the Commercial Code there are 6 forms of business entities from which 4 entities are used by foreign investors/owners:


  • Private Limited Company (ZAO) - min share capital RUB 10 000. Some foreign companies use this entity.
  • Private Limited Liability    (OOO) - min share capital RUB 10 000. Mainly used by foreign investors.
  • Public Limited Company (OAO) - min share capital RUB 10 000 (banks, insurance companies, stock exchange, commodity exchange and other big public companies).
  • Representative Corporation Company (Rep. office) of foreign company in Russia (AO).

A registration process needs always a lawyer. All documents must be with notarized translation.

Time and fee for company registration is up to the lawyer and speed of preparing all needed documentation in mother country, getting translations and notarizations. Lawyers, who are speaking English, have higher fees. Low price means that company prepares most of documentation and takes care of endorsements; low price may turn to become more expensive for the client.

Time for the registration is min one month. As the rule it takes 4 - 6 month. Then the company is ready for operations. Fee for the registration is 2000 - 6000 EUR.

All foreigners need working visa and work permits.
Audit obligation

A private limited company (ZAO) and a private limited liability (OOO) shall have an audit if the turnover is more than 50 million RUB or active balance more than 20 million RUB.

A public limited company (OAO) must always appoint an auditor.
Important links:

Russian Central Bank
Department of Macroeconomic Policy of the Ministry of Finance of the Russian Federation
Federal Customs Service
Federal State Statistics Service
Karelian Research Centre of the Russian Academy of Sciences
Russian SME Resource Centre (RCSME)
Russian-European Center for Economic Policy
St.Petersburg Foundation for SME Development