Branches of foreign companies will be able to obtain licenses in Russia | News -

Branches of foreign companies will be able to obtain licenses in Russia

According to a considered bill, foreign companies will no longer need to register a separate entity (LLC or JSC) in Russia in order to obtain a license there.

Presumably, branches of foreign organizations will be admitted to licensing in the same way as Russian companies. 52 types of activities fall under this project, the most popular are: education, medicine, passenger transport and pharmaceuticals.

The main goal of the bill is the influx of foreign businesses into the Russian Federation. Moreover, foreign companies already operating in Russia will be able to engage in previously inaccessible areas of business. This will lead to the creation of new work places.

Currently, it is impossible to obtain a license in the Russian Federation without creating an independent legal entity which is included into the Unified State Register of Legal Entities (ЕГРЮЛ). 

It should be noted, that opening a branch can be more profitable for a foreign business than creating a separate organization. For example, for branches a simpler procedure for obtaining financing from the parent company is available.

Our consultants will be happy to consider the advantages and disadvantages of different forms of presence in Russia for your business

Read about the most important news for businesses in Russia in our last Bellerage Quarterly

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