Register YOUR business
In accordance with applicable laws, a first-time entrepreneur must register his company in the Federal Tax Service. State registration takes no more than 5 working days following the submission of documents to the registration authority.
In the section devoted to the choice of legal and organizational form it has already been mentioned that for YOU as the young first-time entrepreneur it would be best to register a legal entity in the form of a limited liability company (OOO in Russian) or to start working as an individual entrepreneur (IP in Russian).
Individual entrepreneur must go through the state registration procedure at the place of residence.
The legal entity (ООО– LLC) is registered at the location of the legal entity’s permanent executive body, which is to be specified in the application for state registration.
To register as an individual entrepreneur or to register a legal entity (ООО– LLC) YOU need to provide a list of documents to the tax authorities and pay the state fee.
- To register a private person as an individual entrepreneur, you have to pay the state fee in the amount of 800 rubles;
- To register a legal entity – 4000 rubles.
It is important to remember that YOU can send the documents to the registration authority in electronic form via the Internet.