The Trade Register mainly known as the Russian State Registration Chamber was created in June 1994 by the Ministry of Economy in order to ease trade activities for local and foreign companies. The Russian Trade Register deals with the registration process of all types of companies, national companies or foreign investors who want to open companies in Russia.
The Trade Register handles the Register of Commercial Organizations for companies with foreign investments in Russia, companies in the gas and energy domain and all foreign investments that exceed 100 million rubles. Its main functions are the following:
- it offers accreditation to branch and representative offices in Russia. The accreditation is very useful when it comes to opening a bank account in Russia, the registration for taxes and with the customs authorities. The accreditation also authorizes the company to open an office in Russia;
The Registration Chamber created a guide for investors called the Handbook of Foreign Investment, which serves as a guide through the Russian legislation and offers precious information on how to get a quick access to the Russian market. The handbook also offers pointers about the types of Russian companies, the documentation required to register a company and the taxes legal entities must pay. The handbook is written in both Russian and English.
In order to register a company with the Register Chamber, the owner or a legal representative of the company can submit the application in person or online. The Russian Trade Register will issue the certificate of registration within three weeks. If any changes occur in the company, an approval must be obtained with a judge that reviews the additional information that subsequently will be registered.
You can also watch our video on the Russian Trade Register below:
If you want details about the registration process, you can contact our law firm in Russia.