Introduction to setting up a Russian branch
Russia encourages foreign investment in many business sectors of the country and a range of incentives are available. The country has a massive consumer market and can also be advantageous to branches looking to access the markets of CIS (Commonwealth of Independent States) countries.
What are the formalities regarding Russian branches?
- A copy of the parent company’s Certificate of Incorporation
- A copy of the Memorandum and Articles of Association of the parent company
- A copy of the parent company’s Certificate of Good Standing
- A copy of the parent company’s corporation charter
- A Russian branch representative
- A registered Russian office address
- The resolution of the parent company to establish the branch
In order for the branch to be registered, these documents are required to be filed with the State Chamber of Registration of the Ministry of Justice (SRC).
All documents are required to be notarised, apostilled and translated into Russian by an official translator.
What are the accounting requirements for a Russian Branch?
The branch is subject to Russian taxation and must register with the designated Branch Tax Inspectorate from the Federal Tax Service in order to be taxed appropriately.
Tax reports should be filed quarterly and VAT reports monthly.
For further information on accountancy and tax rates in Russia please contact us.
What office facilities are available when registering a branch?
The following types of office are available for branches in Russia:
- Registered offices – providing an address for branch correspondence
- Virtual offices – providing off-site communication services such as telephone, fax and mail forwarding
- Serviced offices – providing all necessary business facilities ready for immediate occupation
Branch formation packages
Our branch formation packages include services such as branch registration, bank account set up, and VAT registration, so you can leave the complete formation procedure up to our accomplished team.
Our expert knowledge of Russian formation requirements and range of branch formation packages can also help you establish multiple branches. The benefits for setting up multiple branches are extended from those applicable to single branches and include further increased exposure and global presence.
For further information please send an enquiry or contact us using the form below.