Establishing a company in Russia Latvia Latvia

The title the company; Legal address; Defining shareholders; Choosing the General Director; Choosing the tax system; Charter capital. Latvia Latvia Opening a bank account; Registration in funds. Notarization; Submission for registration; Documents receiving. Preparation Registration Notification

❖ Director General Latvia Latvia Term of activity: 1 year, 3 years, 5 years or indefinitely. ❖ The Tax system choosing  The general system of taxation ( ОСН ), the simplified tax system ( УСН).  Choose National Classification of Economic Activities (OKVED) codes to define your business activities. ❖ Charter capital  Not less than rubles.  It can be made in cash or in kind.  Should be paid within four months from the date of company’s registration.  In the case of natural form of the charter capital, an independent assessment is to be provided. Preparation

❖ The title of the company Latvia Latvia Preparation It is forbidden to use in the trade name of the company words “Moscow” and “Russia”, and their derivative without a permit and relevant payment. State duty is rubles. ❖ Legal address Location of the Company is the place of its state registration. ❖ Shareholders o physical persons and legal entities; o not more then 50; o Company cannot have as a sole shareholder another company consisting of one entity.

●Application for state registration of legal entity (form R11001). ●Chart; ●State duty of 4000 rubles for registration; ●Documents for Legal address: Guarantee letter from the lesser (1) a certified copy of the ownership title (2) and lease agreement (3); ●Copies of shareholders and head of the Company (General Director) passports; ●Application for simplified taxation system in 3 copies (if chosen). Registration Documents for registration of the LLC Latvia Latvia

Latvia Latvia ●Decision on the (when registering with one founder); ●Protocol on the company’s foundation (when two or more founders); ●Contract on establishment of the company (when two or more founders). Documents for registration of the LLC Registration

Latvia Latvia  A notary is to certify form R  The presence of all the founders with the notary - is a must!  If the documents are to be submitted fiduciary, required notarised power of attorney.  If the applicant (founder) personally apply for registration, a notary certification is not needed. cost of one signature notary certification rubles., in the case if more then one shareholder - plus 200 rubles for each. cost of notarized power of attorney rubles. Approximately. Registration Notary certification

Registration Latvinia Registration Registration of companies in Moscow is held in Tax Inspection №46, which is located at: Moscow, Prohodnyi proezhd, 3, Building 2 (Tushino District). After the documents submission for the registration the inspector issues a receipt on documents, which will indicate the dates of receipt and of issuing registered ones.

Obtaining of registered documents Latvinia On the sixth day from the date of documents submission, the following documents are provided to the company ●Certificate of state registration; ●Certificate of tax registration; ●Charter certified by the tax authority; ●Certified statements about the transition to a simplified tax system (in case of selection); ●Sheet entry of the state united legal entities register, certified by the tax authority. Registration

Latvinia Latvinia Notification ●To obtain codes of Statistics (print site mosstat.ru); ●Stamp; ●To issue an orders on general director and chief accountant of the assignment of responsibilities; ●Prepare a list of members of society; ●Open a bank account; ●Pay the share capital for 4 calendar months from the date of registration; ●Purchase and register with the tax cash register (in the case of cash)

Opening a bank account Latvinia Latvinia Notification Notification of the tax bodies on the opening of bank accounts is not needed Registration in funds In Moscow, the tax authority taking care of company’s further registration in the funds (social security and pension). Letters of notification of registration of the LLC in the funds will come to the legal address. In regions companies need to register itself in each fund.

Taxation of dividends Latvia Latvia % - on income received by a foreign organization in the form of dividends on shares in Russian companies, as well as dividends from equity participation in any other form. Art. 284 Tax Code

Liquidation of the company Latvia Latvia AffiliationSaleBanqrupcyLiquidation

Latvia Latvia LLC “Nordstrom&Yurk” , Moscow, 1 st Ochakovskii side-street,