Company formation

16 Replies
matt-607

1420716379

Message

On the discussion Doing business in Russia, the steps to form a company was mentioned. I want to know whether there is a need to have the bank signature cards notarized as what I am reading from the internet. Does anyone know about the requirement? I haven't talked to firms that offer company formation services. I am hoping that someone in this forum could help me understand. Thanks.

Replies

Mr M. H. 1421673533

@matt-607, I am not sure about this but I could validate this inquiry. Anyway, if you haven't read this, this is good for starters, Starting a Business in Russia.

matt-607 1421765165

Hi Mr M.H, That will be great thanks!

Mr M. H. 1421854885

@matt as promised, last year the Russian Federation made starting a company to do business in Russia easier by removing the requirement to have the bank signature card notarized before opening a bank account. When did they removed this process, I actually do not know, so some of the information on the web that you are reading may actually be unreliable or out of date. You could try calling the legal firms for confirmation if you haven't.

matt-607 1421928089

Thanks, but where do you get this information!?

Mr M. H. 1422014815

Would you believe that I am learning from a friend in the Philippines whom I met when he visited my country of citizenship when he was sent for a project way back 2000. He has an advisory management company now that helps offshore companies if they are interested to form companies in his home country. He actually points me in the right direction on where to find the info and who to ask here in Russia.

matt-607 1422272144

What I meant was where do you get the information, though I am curious about your friend, that you share. Againg, thanks!

Mr M. H. 1422346464

Oh... Well, the first thing that he thought me is to do a quick search because he is not quite familiar of the entities in Russia. Then go to the International Finance Corporation and the Wordbank websites afterwards ask around starting with people I know in Russia and, if I am with any forums, ask the people there, like the forum here in Angloinfo.


Btw, the International Finance Corporation and the Worldbank websites maintain a list of legal firms and other parties or groups that have experience with organising companies. There are also other forums like expa t.ru which maintains a list. Angloinfo has basically have information for the steps which I already posted on this discussion to forming a company.

Geordie expat 1422881994

I was wondering what tips can you share when calling the offices you mentioned?

matt-607 1422883400

I was about to ask a similar question as Geordi. So, Mr. M.H., how do we approach these offices?

Mr M. H. 1422966800

This is not a rocket science and just converse like your talking to any person or a friend. Like what i have mentioned on the discussion Doing Business in Russia that some of the attendants have alluring voices but the worst case scenario would be the language barrier. Anyone could set an appointment but don't forget to ask their fee or rate. My conversation with them revolves around: why, when, and how much. Another worth mentioning is that afana said on the other discussion that setting up a company is pretty straight forward. And believe it or not and in most instances shorter than other countries, therefore, simple but not necessarily easy. Lastly, do not forget to have the company formation translated to English or to your preferred language accurately so that you may be able to understand the contents.

Afana 1423854417

I suggest that you google "registration of company in russia" and you will come up with a host of tips and names fo several firms which advise on setting up a company in Russia.

Afana 1423854845

This advice is misleading.  The IFC and the World Bank do not provide this kind of commercial advice to individuals or individual enterprises.  Neither do they maintain a list of suggested legal firms on their websites.

Mr M. H. 1424106191

Hi Afana, I am not sure if this is misleading but IFC and WB provide lists of companies that provide assistance to form companies in Russia and even other countries. Because I was able to call most of the companies that help in organising companies using the information provided on one of their website to complement my search using the internet. And you are correct that both IFC and WB do not provide such assistance or services to form companies because they have a different mandate as organized. Can you clarify what exactly is misleading or what advise is confusing?


Lastly, as provided on the website that they receive reports from different people and entities, where these people and entities are provided on their report for reference, in order for them to properly rank and evaluate each country to produce the information for public consumption.

Geordie expat 1424203592

Mr M.H., thanks for the information and sharing your experience. Your suggestions proved to be very useful.

Geordie expat 1426263395

These stuff really did help because I was able to register through a firm. I mean, thank you for imparting these experiences.

matt-607 1426533920

Have you encountered the differences in terminologies or where confused with legal terms as I did?

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