Setting up a business in Russia

TMF Group is your trusted partner to help you set up a new business in Russia.

Our services are specially tailored to the local market and include:

Incorporation services:  We can assist you in the state registration of Russian legal entities – public and private companies – as well as the state accreditation of branches and representative offices of foreign legal entities.

Corporate secretarial services:  We can help to keep you compliant with local legal requirements.

Legal support: Our team can provide you with legal support for the introduction of amendments to the foundation documents of Russian legal entities; changing managing directors, heads of branches and representative offices of foreign legal entities; the introduction of amendments into state registers; and the liquidation of legal entities, branches and representative offices of foreign legal entities.

The most common types of business when entering the Russian market are:

  • Limited liability company (LLC): A limited liability company is overwhelmingly the most popular legal form for businesses in Russia. LLCs are generally easier to establish and finance than any other legal form. There is no legal requirement for an LLC to register its shares. The liability of each participant in an LLC is limited to the value of their share in the charter capital. The number of participants in an LLC cannot exceed 50 and the minimum charter capital requirement is RUB 10,000 (approximately €140).
  • Joint-stock company (JSC): A joint-stock company is the second most popular legal form for businesses in Russia. Two types of JSC exist in Russia: public and private. The minimum share capital for private and public JSCs is RUB 10,000 and RUB 100,000, respectively. JSCs, especially public ones, are much more strictly governed by legislation than LLCs,. JSCs are widely regarded to be more convenient for middle-grade to large businesses.
  • Branch: A branch of a foreign legal entity is not a separate Russian legal entity, but a subdivision of its parent company. Branches of foreign legal entities must pass state accreditation to be able to operate in Russia. A branch can engage in some or all kinds of commercial activity of its parent company. A branch is subject to fewer reporting requirements than a standalone Russian legal entity.
  • Representative office (RO): Similar to a branch, a representative office of a foreign legal entity is a subdivision of its parent company, and must pass state accreditation. However, unlike branches, ROs are limited to conducting only liaison, marketing and support functions. The reporting of an RO is the same as for a branch.

Planning to expand into Russia? Find out how we can help you today. 

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