Russia is in northern Eurasia bordering the Arctic Ocean and Finland to the north, Kazakhstan, Mongolia, Georgia, Azerbaijan, China, and North Korea to the south, Norway, Poland, Lithuania, Estonia, Latvia, Belarus, and the Ukraine to the west, and Mongolia to the east. The capital is Moscow, and the currency is the Ruble (RUB). The official language is Russian. It is the world’s largest producer of oil, and the second largest producer of natural gas. It boasts the world’s largest natural gas reserves, second largest coal reserves, and the eighth largest crude oil reserves. It is a member of United Nations Security Council, G8, G20, the Council of Europe, Asia-Pacific Economic Cooperation, Shanghai Cooperation Organisation, Eurasian Economic Community and WTO.
- TYPE OF COMPANY: Limited Liability Company (Obschestvo s Orgranichennoy Otvetstvennostju)
- COMPANY LAW: Limited Liability Companies Act 1997; Limited Companies Act 1996; Civil Code of the Russian Federation and Law No. 14-FZ 1998 (LLC Law as amended)
- SUFFIX TO DENOTE LIMITED LIABILITY: LLC/OOO
- DIRECTORS: Minimum one who can be of any residency or nationality, either natural persons or corporate bodies – we can provide
- SECRETARY: Not required
- SHAREHOLDERS: Minimum one who can be of any residency or nationality, either natural persons or corporate bodies – we can provide
- CLASSES OF SHARE: Registered
- CAPITAL REQUIREMENTS: Minimum share capital is RUB 10,000 fully paid up
- OWNERSHIP: 100% Foreign ownership allowed
- TIME TO INCORPORATE: 1-2 weeks
- REGISTERED OFFICE: Required in Russia – we can provide
- ANNUAL RETURN: Yes
- ACCOUNTS: Yes (audited)
- DISCLOSURE: Yes
- TAXATION: 20% – 24% (Federal Tax 6.5% + Regional Tax 13.5% – 17.5%)
- GOVERNMENT LICENCE FEE: N/A
- DOUBLE TAXATION TREATIES: 60
- LANGUAGE OF DOCUMENTATION: Russian with certified English translation
If you would like further information on setting up a company in Russian or the formation of a Russian company or other Russian corporate entities or require professional advice relating to taxation or the structuring and requirements of a Russian company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Russia.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.