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LLC's

 

Formalities to establish a new LLC: 

  • The application for the state registration of the new entity;
  • The foundation agreement of the LLC (if the LLC has more than one founder/participant);
  • The protocol of the founders’ meeting or, if the LLC has only one founder, the resolution of the founder in the establishment of the LLC;
  • The Charter of the LLC. · Power of Attorney issued by the founder for filing the application for the state registration of the LLC;
  • The registration certificate, Certificate of Incorporation, an excerpt from the trade register, or certificate of good standing of the foreign participant;
  • The Charter (Articles of Association, By-laws) of the foreign participant;
  • Confirmation of payment of the state registration fee.
  • All documents from a foreign legal entity must be notarized and legalized in the country of preparation. Any document supplied in a language other than Russian must be accompanied by a notarized Russian translation. This however is not be a problem to our customers as we are able to organise it fast.

Formalities:

 

  • Participants. A Russian limited liability company (LLC) may be established by one or more individuals or legal entities (“participants”).An LLC may not have another business entity as its sole participant. However this can be easily resolved in practice;
  • Tax regimes. There are 3 different tax regimes for an LLC. A general ta regime (includes the value added tax), two special tax regimes where the company does not pay the value added tax and the corporate tax is 6% for a "simple" tax regime and varies from 12 to 15% (depending on the local region of formation) for another "simple" tax regime;
  • Liability. The liability of each participant in this type of company is limited to the value of his share in the charter capital;
  • Charter capital. The charter capital of a limited liability company determines the minimum size of the company’s property, thereby guaranteeing the interests of its creditors. The minimum charter capital of a limited liability company should come to at least RUB 10,000 (around $250 US), but participants are not required to pay it at the registration;
  •  Management. In terms of organizing their management structure, relations between shareholders, and other aspects of their activity a Russian liability company’s management structure is flexible.
Reeves/Duhovnikoff & Associates Ltd. 2017

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