The opening of an LLC by a foreign citizen from an unfriendly country

In 2023, both citizens of the Russian
Federation and foreigners can open a company in Russia, even if they are
citizens of states that are included in the list of unfriendly countries, which
is approved by the Government of the Russian Federation.

What is necessary to register an LLC:

To submit documents to the Federal Tax Service,
you will need to prepare the following:

• Form
  P11001 (application for registration of a legal entity)
• Resolution
  on the establishment of a legal entity
• Company’s
  Articles of Association
• A
  notarized copy of the passport

If a foreigner wants to open a company without
personal presence, then it is additionally necessary to issue a power of
attorney and notarize the form P11001 and the power of attorney.

After submitting the documents to the Federal
Tax Service, the company will be registered within 5 working days.

After the opening of the company

A legal entity whose participant is a foreign
citizen (including citizens from unfriendly countries towards Russia) has no
restrictions for conducting its activities. It has the same rights and
obligations as other organizations, can open bank accounts in any banks and
operate within the framework of Russian legislation.

It is worth noting that if a foreign citizen
from an unfriendly country decides to make a deal with a stake in a Russian
LLC, then it is quite difficult to do this in the current situation, because
there is a restriction on transactions of this kind. To make a deal with a
share, you must first obtain the permission of the Government Commission. It
may take a lot of time to formalize this permission, it is also necessary to
collect an extensive package of documents, for documents in a foreign language
it is mandatory to receive an apostille and a notarized translation.