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  • Full scale legal support of LLC/ Representative Office incorporation procedure in Moscow

    A company which is generating sufficient turnover on the Russian market may consider establishing a local office. Local presence is a crucial prerequisite to increase sales on the Russian market. This local office can import goods and stock goods, offer after-sales services to its Russian customers and undertake sales and marketing activities.

     

    Reliable assistance during the process of registration the company is an important factor which contributes the success of the project. We always try to provide our clients the best way to solve their issues in a more efficient and thus less costly way.

     

    Services

    LLC

    RepOffice

    Preparing standard drafts of documents necessary registration in Russian and English languages

    V

    V

    Legal support of opening a bank account

    V

    V

    Drafting standard employment agreement with a General director (in case it is a Russian citizen)

    V


    Direct participation in procedure of registration, including submission of the necessary documents to the authorized state authorities and receipt of documents confirming registration

    V

    V

    Personal accreditation of no more than 5 foreign employees of the representative office in the authorized authorities (is required along with work permits)


    V

    Cost

    USD 7500

    USD 9200

     


    LLC vs Representation


    LLC

    Representation

    Legal status

    An independent legal entity.

    LLC is allowed to settle transactions, to exercise property rights and duties to present its interests in court and authorities.

    Legal entity’s set — apart subdivision

    Acts in the name of its head office. All the rights and obligations arising from the contracts are acquired for the head company, not PE.

    Functions

    Carrying out all kinds of activities subject to its Articles of Association and applicable legislation.

    Representation and protection of the interests of the head company or carrying out all or part of the functions of the head company.

    Managing bodies

    • Managing director(s)

    As a general rule is governed by 1 director though 2 directors may be appointed.

    • General meeting of the founders Advisory body, empowered to decide directives of company management, assign managing director, amend statutory documents and etc.

    • The board of directors (supervisory board)

    Supervises the day-to-day working process, regulated by the managing directors.

    • Revision commission (voluntary)

    Has the right to make financial and economic enquires, concerning the company activities.

    Head of the Representation acting on a basis of the

    General Power of Attorney.


     


    Procedure of establishment


    LLC

    Representation

    Terms of registration / accreditation by state authorities

    3 working days

    up to 5 weeks

    Registration/accreditation fee

    A registration fee of Russian Rubles ("RUB") 4,000 will be imposed. Within 4 months after the registration, the share capital (minimum RUB 10,000) has to be paid. Notarial and translation fees depend on the of volume of the company`s constituent documents.

    A registration fee of RUB 125,000 rubles will be imposed. In addition, there is a fee of RUB 15,000 if at least one foreign employee is engaged. Notarial and translation fees depend on the of volume of the company`s constituent documents.

    Registering/accrediting body

    Federal Tax Service

    Federal Tax Service;

    2. Industrial Business and Trade Association is doing the personal accreditation of the foreign stuff of the RO.


    Extra-budgetary funds registration

    Registration with the following extra-budgetary funds is required:


    1. Pension Fund;

    2. Social Insurance Fund

    Currency law requirements

    Special currency law requirements regarding the

    payments effected by the LLC and foreign legal entities

    and their representations, branches and other separate

    subdivisions.

    A LLC will have status as a "resident" for currency

    purposes.

    1. A PE must open bank accounts in a bank

    authorized by the RF Central Bank.

    2. Special currency law requirements applies for payments made by a PE and residents of the Russian Federation (i.e. legal entities set up in

    accordance with Russian legislation and their representations, branches and other separate subdivisions including those situated outside Russian territory).

    3. A PE will have status as a "non-resident" for currency purposes.

     


    Legal status of foreign employees


    LLC

    Representation

    Documents, required for recruiting

    foreign employees (as a general rule)


    1. A permit to engage and use foreign labour.

    2. An invitation for the foreigner for entering RF.

    3. Work permit for a foreigner.

    4. Tax authority notification.


    The number of foreign employees in

    the organization


    The proof of reasonability of each employment must be provided to the migration authorities.

    Might be limited by the migration authorities.

    The number of foreign stuff shall not generally exceed

    5 persons and may be only increased under

    substantial grounds.


    Liability

    LLC is liable for its own transactions and debts.

    The founders are liable for the LLC’s obligations within

    their participatory interest.


    The head company is liable for the obligations of the

    representation.


    As an independent legal entity LLC has a wide range of functions stated in the Articles of Association. LLC is vested with separate credentials and separate

    property. Generally LLC discretionally chooses the company’s policy, hires

    personnel, settles transactions and represents interests in court and authorities.

    On the contrary, the Representation is limited by the head company’s will in sphere

    of negotiating and owning its own property.

    LLC management structure is more complex than Representation`s.

    The LLC establishment costs less than the representation accreditation, takes less

    time, which appears to be more convenient in case you want to start the business

    sooner. 


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