Open LLC in Russia
When opening your own business in Russia, the first question is what legal form to choose.
Most common legal form for a foreign business in Russia is a limited liability company (LLC).
This legal form is the most suitable for your Russian start-up business. Any foreign citizen can establish LLC in Russia without any restrictions.
The minimum share capital of an LLC is 10,000 RUB (approx. EUR 150).
Limited liability company (LLC) in Russia is a separate legal entity.
It may be engaged in any legal activities. Just like in Europe or USA, the shareholder’s of an LLC are liable with their shares only.
The limited liability of the parent company as the shareholder of an LLC is the big advantage of an LLC compared to a branch or a representative office.
LLC is considered to be established only when registered by the tax authority in Russian companies’ register.
After the registration an LLC is attributed with two identification numbers – main state registration number and individual taxpayer’s number.
Subsequently, the bank account shall be opened and a stamp (if necessary) produced. Only then an LLC becomes operational.
An LLC may have maximum 50 shareholders.
If this number is exceeded, an LLC shall be converted into a joint-stock company. A foreign company may be a shareholder of an LLC.
A foreign parent company may not hold 100% of the shares in the LLC if the parent company itself has only one shareholder.