| LLC | Private JSC | Public JSC | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | OOO | ZAO | OAO | филиал | представительство |
| Company Setup Time | 20 days | 25 days | 25 days | 30 days | 30 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Grants Available Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Russian LLC (OOO)
- A minimum share capital of 10,000 rubles (US$ 130) is required to set up a limited liability company. The director must be a Russian resident, although the shareholder can be of any nationality. If one shareholder is a corporate entity, two shareholders are required. The company needs to file audited financial statements annually.
Russian Joint Stock Company (OAO)
- A JSC must have one director who is a local resident and one shareholder of any nationality. There are two types of joint stock companies. One is public known as listed or OAO and the second one is private known as non-listed or as ZAO. A ZAO can be established with 10,000 roubles (US$130) and can only issue shares to the founders of the company or to another predetermined group of individuals.
- The OAO can issue shares to the public at the time of incorporation, the share capital must be 100,000 rubles. It is mandatory to submit annual audited financial statements. The OAO is also required to make its financial statements public.
Russian Branch Office (филиал)
- A branch office in Russia can be wholly owned by a foreign business entity. The scope of the business is defined by the parent company. This business entity can invoice local consumers. It can also sign local sale contracts and generate income from the consumers
Russian Representative Office (представительство)
- These entities are not allowed to carry out direct sales activities. Representative offices in Russia are allowed to conduct market research and promote the business of its parent company.