Legal support for companies in Russia has become a critical issue in the recent times. The appeal of Russia’s investment has increased significantly. The optimistic development conditions and possible opportunities of the market attract a lot of foreign companies to develop their business in Russia. Despite the appeal, it is the complexity of Russia regulations and law which make the foreign investors worried. Hence, if a foreign company is planning business in Russia, then they may have to face several problems which may disturb their business.
Business in Russia for foreign companies isn’t possible without complying with the immigrant regulations. Russian market has always attracted foreign companies, but starting a business in Russia is difficult because of the hefty number of required documents. You need a continuous legal support in Russia to help you with the immigration and corporate law. It is therefore essential to select a reputed and reliable legal support company for efficient business management.
Companies which specialize in corporate and immigration rules and regulation pay extra attention to paperwork mentioned in promotions of different law firms. It is because of the fact that genuine documentation cannot be acquired before statutory deadline. Hence, companies which offer quick issue of for instance, work permits for foreign business aren’t authentic and may cause concern. They may provide you with an invalid document which is not listed in the database.
It is important to hire a company which functions in strict accordance with Russian regulations and ensure its customers reasonable legal security and authentic required documents. Such companies provide plethora of services to protect the interest of foreign business in Russia, involving:
- Permit for work
- Visa for work
- Foundation documents
- Other legal functionalities
Visa and Work Permits
A business visa or a working visa has to be submitted to Russian embassy. Usually you get a period of 1 year granted. The owner of the business can visit Russia and get the work visa on arrival. Once you have the Russian visa available, you can renew it in Russia. The foreign nationals to be appointed should be discussed and agreed upon by the State Registration Chamber. The business owner doesn’t need any special permit to hire workers.
Well, in compliance with the Russian law, the entrepreneur needs to get foundation documents. The procedure for it varies depending on the legal structure you select but should have these things:
- Name of the company
- Name and sign of the founders of the company
- Amount and type of shareholder contributions
- Legal duties
- Legislations for running the company
- Details of the directors, if required
The minimum capital needed for Private Joint Stock companies and Limited Liability Companies is R10, 000 per person, out of which 50% should be deposited at the time of registration and the remaining within 12 months.
If you wish to commence a business in Russia and you believe that your business idea will work, then you should decide the legal structure of your business.
Taxation and accounting
All Russian businesses should have proper recorded accounts for taxation and auditing. Be it a Joint Stock Company or a Limited Liability Company, both needs to file reports to tax representatives every 4 months and VAT reports monthly. VAT is 18% and corporate tax is 20% in Russia.
Thus, when selecting a company, you should research well about its professionalism which depends on their knowledge about Russian regulations and experience of law enforcement.
Going for a large staff of legal advisors working in private international firms is suggested along with an expert interpreter and private courier service. It will ease most of your problems. Hiring specialist will give you a great work experience with documents as they help you in achieving the best results.
Proficient employees education offers the probability of being aware of not just Russian regulations and laws but also about foreign legislations and international private laws.
What’s essential here is the one-on-one approach to clients offered by the company as per their requirements. You can get legal advice on several questions related to migration and corporate law. It is also seen that reputed companies work on principle of confidentiality and integrity. The major objective pursued by legal support and advice for foreign companies in Russia is to get maximum results in the least time.
Hence, it is very important to look for a professional company that provides several services to support foreign business in Russia and offer complete legal support to foreign companies to help them make a successful start of their business and resolve all the upcoming legal problems. Some of the services offered by legal companies are given below:
- Consultation on the laws and regulations of Russian Federation
- Consultation on the requirement and compliance of documents to Russian Federation legislation.
- Preparation of the paperwork needed for registration of an office of a foreign company
- Evaluation and development economic deals finalized in Russia under the Russian law.
- Legal support in labor, law
- Certification as a branch.
- Contractual deal with Russian counterparties.
- Meetings with customs authorities
- Protection of the client’s interest in the courts
- Protection of the company’s interest out of court
- Registration of real estate sited in Russia
Once you speak to the professionals, they question about your business and enquire about the issues which you are facing in Russia and wish to get resolved. Once you have made your point clear, the professionals draw a plan which charts down the procedure to support your foreign company activities in Russia. If there is any negotiation issue, then the lawyers accompany you and help in resolving the legal issue. If there are any legal documents needed then they help you in obtaining it.
BRB Ramo Law company is your one-stop solution to get in touch with professional and expert lawyers, and advisors with great experience in legal support of foreign business. If you are a foreign company who wants to open a business in Russia, then the professionals will answer all your queries. These lawyers are well-versed in Russian regulations and have years of experience in working with foreign companies. So, click here to contact them and get instant help.