In 2021, under Russian law, foreign citizens and companies can be founders of a Limited Liability Company. However, there are a number of restrictions on such participation in Russian LLCs. In addition, there are some differences in the registration documents package.
Special requirements for foreign founders:
- If there is only one founder in a foreign company, such a company is not entitled to be the only founder of a Russian LLC.
- When establishing insurance companies, the share of foreign capital should not exceed 50%
- If the participation share of the foreign founder is more than 49%, the benefits for small businesses do not apply.
In addition, in some areas, foreign companies cannot conduct commercial activities:
- Work with radioactive waste
- Lease of land plots in port and border areas
- Running a large telecommunications or publishing business
- Participation in defense enterprises
- Extraction of minerals and subsoil development
What documents are required to register an LLC with foreign capital in 2021?
If the founder is a foreign individual
If the LLC is founded by a foreign citizen, then the following documents must be attached:
- Original identity card in the country of citizenship
- Notarized translation of identity card
- Document confirming permanent residence outside the Russian Federation (also with a notarized translation)
- Work permit in Russia
If the founder is a foreign company
If the LLC is founded by another foreign company, then the same information must be submitted to the inspection as for a Russian legal entity. The list of documents required for registration will be as follows:
- Copies of constituent documents
- Certificate of registration or its equivalent
- Extract from the commercial register or the register of legal entities in the country of registration of the company (it is necessary to indicate the register number of the organization)
- Document on assignment of TIN or its equivalent
- Bank statement or account statement
- Power of attorney (if the registration and other procedures are not handled by the head of the company)
Please note that all documents must be certified by a notary and translated into Russian (the translation is also certified). In most cases, you will also need legalization at the consulate - affixing an apostille.
Important: the inspectorate will only accept documents certified by a notary accredited in the Russian Federation.
For 10 years of work in Russia and Asian countries, the RAUIE has accumulated experience, business connections and contact base, and has also earned a high reputation and trust among the business community. Today the RAUIE offers a wide range of solutions for entrepreneurs seeking to enter the Russian market.
If you still have questions or need advice on opening a business in the Russian Federation, you can leave a request in the feedback form or contact our specialists at the contacts below:
Maxim Kuznetsov - vice-president of the RAUIE
investment@raspp.ru
WeChat: maximkuznetsov
