A shelter for a company
The crisis prevents you from development on the Russian market- you need concentrate energy and finances in other regions. But in Russia there remains a registered entity* which in this instable time appeared to be out of work. And you are at a loss.
Liquidate the entity? But liquidation is a time consuming process, requiring personnel and financing. And who knows, in some time the entity may again become required - so there may appear the need to arrange for starting up the business again. Namely, you realize that if the situation becomes more o less stable in some time there may be required to expediently launch projects in Russia - the crisis is anyway not forever and Russia is a place of huge possibilities.
Make the entity dormant? But according to the Russian laws an entity dormant in business is not legally recognized as such, i.e. the entity officially remains operating and is to have a General Director and regularly report to the fiscal authorities and, at least, pay taxes from/on the General Director's salary and on cost of fixed assets accounted. Also the entity should have physically available legal address for contacts and postages. Accordingly, to forget for a while about the company is impossible. Personnel, finances and the consequent control will still be required.
So, you may resolve not to leave Russia completely but rather wait out at a minimum and predicted expense. Group of companies VISTA, having professionals in law, accounting and taxation, would be pleased to offer you its services, encompassing:
- Handling the Executive Officer functions - corporate management services;
The service relieves from having an individual General Director and rent an office - the entity's legal address is to be changed for the managing company's address . All these would allow to avoid expenses on salary to the Director, payment of taxes from the salary, office rent while having proper management and legal address for correspondence and contacts by officials.
- Financial and tax accounting and reporting to the Russian state authorities , liaison with the state authorities.
Besides the above, you may require the following services.
- As a result of ceasing the activities there may be required services related to dismissal of personnel.
- Change of the General Director for a corporate manager and the subsequent change of the address require changes of the incorporation documents and information in the Consolidated State Register of Legal Entities.
Our lawyers would be delighted to assist you with all these and other issues.
Fees for our services would include:
- Monthly fixed fee for the management services.
- Monthly fixed fee for the accounting and reporting.
- Fee for additionally requested services indicated above or other.
(*) Similar services may be provided in respect of Russian subdivisions of non-Russian companies.