Russia
Setting up an Overseas Office in Russia
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Russia Entering The Market
The main forms of business activity used by UK companies in Russia are:
- Direct sales
- Distributorship agreement
- Representative offices
- Branch of a foreign legal entity
- Subsidiary
Direct sales or distributor contracts
UK companies choosing direct sales or distributor contracts are:
- Not subject to Russian taxes
- Don’t need to establish a presence in Russia via any corporate structure
- nNot responsible for Russian customs processes, taxes and fees
Other business forms
Representative offices are accredited for 1 to 3 years. They can only carry out activities aimed at generating profit, such as market research. They can use rouble and foreign currency bank accounts and transfer funds without restrictions.
A branch of a foreign legal entity is accredited for 1, 2, 3 or 5 years. They can carry out all the functions of the company in the Russian Federation.
UK companies can choose to establish a presence in Russia through a Russian subsidiary. The most common business structures in Russia are:
- Limited liability company (OOO in Russian)
- Closed joint stock company (ZAO in Russian)
- Open joint stock company (OAO in Russian)
Taxation, legal obligations, regulative bodies, registering requirements and information disclosure procedures differ depending on the business structure you choose.
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