Law Center Jurconsult
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Accreditation
In fact, the term ‘accreditation’ in Russian legislation stands for the process of starting a local business owned by a foreign-based company, regardless of its size and share. For foreign businesses aiming to invest in the local economy, or have a substantial presence in the market: whether it is tourism, construction, education, art or trade – it is pivotal to establish a local branch.
The process of accreditation may comprise several activities such as an establishment of a local branch; hiring employees who act under a power of attorney from a foreign-based enterprise, with the right to open bank accounts, legally certify and demonstrate products and services, organize exhibitions and pay taxes on behalf of an enterprise. Legal procedure of accreditation of a foreign business involves preparation of a document package (description and list of required documents attached) and transmission of indicated documents to specified government agencies in order to obtain the legal right to conduct business on the territory of the Russian Federation.
Opening (establishment) of a representative office
We offer accreditation (opening), accounting, bookkeeping, payroll and payment outsourcing services for foreign companies in Russia.
How to start up a business in Russia for any foreigner or company? The answer is simple. Ordinarily, they enter the Russian market using one the following corporate structures: Representative office, Branch and Joint Stock Company. But the most foreign companies start their business in Russia by opening Representative office. A representative office may be established in Russia only upon authorization of the accreditation authorities. Accreditation provides an official status for the company and allows it to carry on commercial activity in Russia. Besides that, accreditation grants the company a right for visa support. This means that invitations and long-term visas are granted for expatriate employees of the representative office, as well as for their family members.
Documents required
The documents required from a foreign company to accredit its representative office in Russia are as follows:
- An application of the company for accreditation (a specific wording is required)
- The certificate of incorporation (or excerpts from a commercial register) confirming registration of the company
- The statutes of the company (e.g. its Memorandum and Articles of Association)
- A reference letter from the company’s bankers
- A resolution of the company to establish a representative office in Russia
- A power of attorney for the head of the representative office
- A power of attorney for the person (if different from the above) authorised to apply for accreditation on behalf of the company
- The statutes of the representative office
- A confirmation of the address of the representative office
- Reference letters from Russian commercial partners of the company (at least two)
- An agreement of local authorities (only if the representative office is not in Moscow)
- Information about the representative office (in a specific form)
Costs and Services
We are assigning one, at most two, experienced associates who possess in-depth knowledge of accounting, tax and HR practices to oversee each of our clients. Unless implied by the nature of a particular task, it is very rare that we assign work to our specialized attorneys. Typically, we involve a lawyer at the beginning of the accreditation procedure or during the liquidation of a branch office of a foreign enterprise.
Targets of Accreditation
At the request of our clients, we are able to bring 25 years of experience in supporting activities for foreign missions. The following encompasses comprehensive accounting, tax, and HR practices, as well as mandatory legal services. We focus on eliminating redundancies from operations, adhering to high standards of customer service and professionalism while keeping our fees reasonable.
S.M.A.R.T.
The Legal Center Jurconsult (PCJ) can cover a wide array of fields. We also cooperate with Trade and Commercial Chamber of Russia that can provide information needed by our clients overseas.
Our main activity is professional representative office for foreign companies and individual business that are seeking a cooperation in Russia and don’t have their owm representative office in Russia. Our clients appoint us as their Representative office in Moscow, Russia. We are trying to optimize the cost-performance ratio. Also, per our clients’ request, we are able to provide assistance with registration of a company with foreign investments. This is a commercial organization, established in accordance with Russian legislation, on the territory of the Russian Federation, whose founders are foreign nationals or foreign enterprises.
Russian legislation contains provisions on the registration of companies with 100% foreign ownership, as well as joint ventures created by both Russian and foreign agents. The same applies to foreign nationals wishing to obtain the legal status of a sole proprietor.
Registration procedure for Foreign Invested Enterprise is similar to one of a general local business. The difference relates to the schedule of documents required for registration process. Especially, if founding entity is a foreign enterprise.
Our support services include, but not limited to:
- Accounting and tax advisory services
- Legal services and legal counseling
- Human Resources and staffing
- Secretarial services