Russia provides for simpler company registration procedures

Russia provides for simpler company registration procedures

The changes in the Commercial Law in Russia in relation to corporate governance and transparency is making large foreign companies to consider it as their next outsource destination, according to the Forum of Corporate Governance held in Moscow at the end of 2016.

Russia relies on better corporate governance and transparency

Until a few years back it was Russian companies and foreign companies doing business in this country seeking half way around the world for outsourcing services to compute their taxes and prepare their accounting documents due to the poor transparency level at governmental level. Things have changed two years ago, when the government amended the Commercial Code in order to make the country more attractive to foreign investors.
Russian outsourcing companies are some of the winners of these changes, as many foreign investors doing business here are seeking their services. IT, accounting, payroll and human resources are just a few of the companies offering outsourcing services benefitting from the new corporate governance regulations. Our lawyers in Russia can assist foreign investors interested in opening an outsourcing company here.

Russia also provides for simpler company registration procedures

The changes which began in 2015 continued in 2016 when the authorities have improved the company registration process by simplifying it. Licensing procedures and reporting requirements have also been simplified and thus making it easier for foreign companies starting a business in Russia to appeal to the services of local outsourcing companies related to certain aspects of their business. Foreign investors have saluted the changes as they made it easier for them and their employees to focus exclusively on their core activities rather than on the bureaucracy related to taxation and employment.

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