| PROCEDURES FOR
REGISTERING ENTERPRISES WITH FOREIGN INVESTMENTS
The procedure for registering legal entities the
authorised capital of which contains foreign capital is
set by the federal law “On State Registration of Legal
Entities” with the specific features set forth by the
federal law “On Foreign Investments in the Russian
Federation”.
According to the law, state registration of a legal
entity means an act issued by the federal agency of the
executive power on which basis data about the
establishment, re-organisation and liquidation of legal
entities and also other information (organisational and
legal form of the legal entity, its address; information
about the legal entity's founders; the authorised stock
value; information about the licenses held by the legal
entity, etc.) are recorded to the state registry.
According the Decree of the Russian Federation's
Government No. 319 dated 17 May 2002, the Russian
Federation's Ministry for Taxes and Duties is appointed
the authorised federal agency of the executive power in
charge of registering legal entities beginning from
1 July 2002.
The legal entities, the authorised capital of which
contains foreign capital, are registered according to
the same procedure as the legal entities without foreign
capital. Restrictive waivers for foreign investors may
only be set forth by a federal law and only in the
amount which is needed for the protection of the
Constitution, morality, health, rights and legal
interests of third parties and also for ensuring the
national defence and security.
The state registration procedure is performed at the
location of the permanent executive body (collegial or
individual) within a five-day period.
The application for the state registration of a newly
established legal entity should contain the following
documents to be submitted to the registering agency:
- application for the state registration filled in in
accordance with the established procedure;
- document confirming the legal entity's
establishment (report, agreement or any other document);
- legal entity's foundation documents;
- extract from the registry of foreign legal entities
of the originating country or a legally equivalent proof
of the legal status of the foreign founding legal
entity;
- document confirming the state duty payment.
No later than one day after the state registration
date the registering agency issues (or sends by mail) to
the applicant the document confirming that the record to
the state registry has been made .
The state registration can only be refused in the two
following cases:
1. the applicant failed to submit the documents
required for the state registration which are listed
above;
2. the documents have been submitted to a wrong
registering agency.
The decision on the refusal in the state registration
is made within a five-day period. Such a decision may be
contested at courts. If a registering agency refuses to
perform the state registration, evades from the state
registration or violates the state registration
procedure, it must compensate the damage inflicted
provided it is established that the violations were made
by the agency's fault. The applicants are accountable in
accordance with law for submitting untrustworthy
information required for including in the state
registry. |