FOREIGN BRANCHES WILL BE EASIER TO REGISTER

Federal law “On foreign investments…” is updated. The law will provide easier registration (accreditation) procedures for branches and representative offices of foreign companies in Russia.
If a foreign company has failed to file proper documents, the accreditation procedure will be put on hold and the company will have a chance to correct mistakes. Currently, a failure to provide proper documents entails the refusal of registration with the waste of the state duty (120.000 rubles – approx. 1.400 euro).
The accreditation procedure shall not exceed 15 business days (currently 25).
The refusal of the authority to accredit a branch may be disputed in a non-trial procedure (currently, only a trial procedure is possible).
The updated law shall enter into force 180 days after publication.