Last year, Russia entered the top thirty countries in terms of creating favorable conditions for doing business.
The World Bank has published a global study: Doing Business, in which Russia’s rating was higher than Japan, Spain, France and even Switzerland.
The study covered many factors and Russia’s indices for many of it turned out to be almost the highest in the world, for example, the process of connecting to the power supply system and registering property rights.
The most common way of doing business in Russia is the registration of a Limited Liability Company (LLC).
The law does not impose high requirements on companies in the form of LLC:
- the minimum size of the authorized capital is 10,000 rubles / 120 euros;
- the founder can be either a company or an individual regardless of citizenship;
- the amount of the founders’ liability to creditors is limited by the amount of the authorized capital;
- there are no special requirements for the CEO;
- there is no obligation to have a chief accountant on staff.
For these reasons, companies in the form of LLC have become widespread in the commercial sphere in Russia and every year there are more and more of it.
VALEN lawyers will be happy to assist you register your business in Russia.
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