Setting up a business in Russia is still quite a time-consuming task. To avoid some obvious mistakes and ensure your start-up in Russia is successful, you need a reliable partner from the very beginning of your Moscow company formation.
The full process of legally establishing your company in Moscow will take only 11 business days.
Before we register a company, you can choose the tax system which will be applied to your business. If you qualify for the Simplified Accounting system you can choose one of the 2 types: 6% from your turnover or 15 % from your gross profit (revenue minus costs).
Before you start the process of company formation, you must obtain a legal address in Russia at which the company will be registered. You may be able to use your rented office space, or if you have not signed a lease on an office yet, you can use a property agent, Virtual Office provider.
Once we have received your order, payment and all the information we require from you we need two business days to prepare your registration forms for the Tax office. At the end of this step we escort you to the Notary office which is next building to us.
At this point your documents need to be submitted to the tax office. This must be done in person by one of the owners of the future Russian Company. After the Notary office we check in our office all documents another time and then handle them to you for submission to the Tax Office № 46, which is located at Pohodniy proezd, near metro Tushinskaya. Once you have done this you will be provided with an official list of submitted documents, like a receipt. It will then take 7 business days for the Moscow tax office to complete the registration process. After 7 working days (at the time written in your receipt) anyone with your Power of Attorney (PoA) for obtaining your Incorporation Documents may attend the tax office and on production of the receipt and PoA receive all registration documents for your new Russian company. Please Note: We can receive your registration documents on your behalf, but will need your original Power of Attorney to do so.
Once your registration is official and complete we must issue you with an official stamp for your company which you will need to use on various occassions when conducting your business (invoices, receipts, legal and tax documents must all carry the company stamp). It takes two days for the stamp to be manufactured. The process can not commence until we have obtained all the registration documents from the tax office as there is information in the final documentation which must be included on the stamp. At this stage, your company is established in the form of Limited Liability Company in Russia and you may begin trading and recruiting your employees. If you would also like DebitCredit to provide your company with accounting services in Moscow then we will set-up your Bookkeeping account for your company in our Accounting Center.
As an owner of a business in Russia you do not need any work permits. However, if you want to recruit foreign nationals or would like to be the CEO of your Russian company and are not a Russian Citizen, then you will need to obtain work permits.
After successful company formation and obtaining all work permits you that may be required you may open a commercial bank account in Russia. The process is straight-forward and there are numerous banks which provide these services - local, national and international. If you need assistance in forming your Russian business bank account then DebitCredit is happy to provide support and assistance.
Once your company has been formed you have a legal obligation to submit financial reports to the tax authorities. Even if your company is not yet trading (dormant) then you must still provide 'zero accounts' to the tax office on a qaurterly basis. DebitCredit can relieve you and your staff of an enormous burden by managing all your book-keeping and accountancy needs. We can prepare your tax reports, produce invoices, manage your payroll and arrange payments to your creditors in Russia or abroad.
At DebitCredit we pride ourselves on our professionalism and our meticulous attention to detail. We offer service level guarantees, backed up by insurance and we have many years of experience helping home-grown and multi-national companies start-up in Russia. We appreciate a one-size fits all approach will not do for all businesses, but at the same time we appreciate most businesses cannot afford the expense associated with using major multi-national consultancy and accounting firms. We fill the void and provide personal, professional, start-up and financial support services to businesses in Russia, at reasonable rates.
If you would like DebitCredit to assist you in getting your Russian business up and running please complete our brief registration form, you will be provided with an instant quotation, tailored to your specific requirements and a representative of DebitCredit will contact you to discuss your requirements in more detail.