Accreditation of branches of foreign companies
Many foreign companies do their business on the territory of the Russian Federation through their subdivisions (representative offices or branches).
A Branch of a foreign company performs all functions of a legal entity (or a part of those functions), including representative functions, at a location different from that of the parent company's.
Our company has vast experience of accreditation of branches of foreign companies.
Creation:
In Russia accreditation of the Branch of the foreign legal body is effected by the State Registration Chamber with the Ministry of Justice of the Russian Federation. In Russia a Branch of a foreign legal entity can be set up only with the permission of the accrediting body. To receive the permission to create a Branch outside Moscow, preliminary approval of its location by a local authority is required. Accreditation is granted for one, two, three or five years, and can be extended, if necessary. The Branch receives a certificate confirming the fact of its creation.
Process:
Accreditation of a Branch on the territory of the Russian Federation consists of the following steps:
- Accreditation with the State Registration Chamber
- Registration with the Tax Office (MI FNS №47)
- Appropriation of the codes of external economic activity (OKVED)
- Registration with the extra-budgetary funds (PFR,FOMS, FSS)
- Opening an account with a bank
- Creation of a stamp for the Branch.
Duration:
- Accreditation of the Branch and its registration with the State Registration Chamber with the Ministry of Justice of the Russian Federation take from ten to thirty working days from the day of submission of the complete set of documents.
- Registration with the Tax Office (MI FNS № 47) takes seven working days.
- Approval of a sketch of the stamp by the State Registration Chamber with the Ministry of Justice of the Russian Federation takes from two to five working days.
- Production of the stamp takes one day.
- Obtaining the OKVED codes (Russian National Classifier of Economic Activities) takes one day.
- Registration with the Pension Fund of the Russian Federation (PFR) takes one day.
- Registration with the Social Insurance Fund (FSS) takes one day.
- Registration with the Compulsory Medical Insurance Fund (FOMS) takes one day.
- Opening an account with a bank takes from seven to fourteen days, depending on the bank (bank is chosen by the client).
The fees depend on the required duration of the Branch and how urgently the accreditation should be performed.
Please contact us in any way you find convenient (telephone/fax/e-mail/Skype),
and our employees will be happy to be of assistance to you.
and our employees will be happy to be of assistance to you.