Setting up a Business in Russia

Overview by Globlatrade.net:

Legal Forms of Companies

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Open Joint Stock Company (AO)
 
 
1 000 times the minimum monthly wage.
No minimum.
 
 
Liability is limited to the amount of capital invested.
Documents Authentication: RUR 200 per copy; Registration to the Ministry of Finance's registry to obtain the unique registration number and taxpayer identification number (INN): RUR 2,000; Authentication of the registration certificate and tax identification number: RUR 400; Notary fees: RUR 800.
Closed Joint Stock Company (AOZT)
 
 
1 000 times the minimum monthly wage.
50 minimum.
 
 
Liability is limited to the amount of capital invested.
Documents Authentication: RUR 200 per copy; Registration to the Ministry of Finance's registry to obtain the unique registration number and taxpayer identification number (INN): RUR 2,000; Authentication of the registration certificate and tax identification number: RUR 400; Notary fees: RUR 800.
Limited Liability Company
 
 
1 000 times the minimum wage.
No minimum.
 
 
Liability is limited to the amount of capital invested.
Documents Authentication: RUR 200 per copy; Registration to the Ministry of Finance's registry to obtain the unique registration number and taxpayer identification number (INN): RUR 2,000; Authentication of the registration certificate and tax identification number: RUR 400; Notary fees: RUR 800.
Limited Partnership
 
 
10 times the minimum monthly wage.
No minimum.
 
 
At least one person has unlimited liability and the others have limited liability.
Documents Authentication: RUR 200 per copy; Registration to the Ministry of Finance's registry to obtain the unique registration number and taxpayer identification number (INN): RUR 2,000; Authentication of the registration certificate and tax identification number: RUR 400; Notary fees: RUR 800.
Full Partnership
 
 
No minimum capital.
No minimum.
 
 
Liability is unlimited.
Documents Authentication: RUR 200 per copy; Registration to the Ministry of Finance's registry to obtain the unique registration number and taxpayer identification number (INN): RUR 2,000; Authentication of the registration certificate and tax identification number: RUR 400; Notary fees: RUR 800.
 
Enterprises Federation
Russian union of industrialists and businessmen
Search a Company or a Financial Report
Rustocks
 

Business Setup Procedures

Administrative Formalities
Since 2002 and the State Registration of legal entities Act, companies must be registered.
The Competent Organization
The local tax office.
Time Necessary for Registration
18 days
 

Recovery Procedures

Principle
Russian law provides for 4 types of procedure in case of insolvency: observation, rehabilitation under the authority of a receiver, appointment of an outside manager then compulsory liquidation. At each step, an amicable agreement may be reached.
Cases are judged by arbitration tribunals. After the verdict, the creditor must wait a month before being able to recover his debts. At the end, he can demand the execution of the sentence and appeal to a bailiff. If the bailiff cannot manage to get all the debt together within 30 days, the creditor can ask the Arbitration Tribunal to start an insolvency procedure.
Many informal methods are also used (negotiations, visits, appeals to private companies or corporative associations), but they often have no result..
Minimum Debt-to-Capital Ratio Triggering Liquidation
None
Bankruptcy Laws
Consult the analysis of the law On insolvency (bankruptcy) of 26 October 2002 by Standard&Poor's.
Reorganization and Rehabilitation Laws
The law "On insolvency (bankruptcy)" also covers these procedures.

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