Accreditation of representative offices
Accreditation of representative offices provides for registration of the foreign company with the State Registration Chamber of the Ministry of Justice of the RF or with the Chamber of Commerce and Industry of the RF. Later the accreditation process provides for registration with the tax inspection, receiving statistic codes, registration with various funds (pension, medical and social insurance). After the accreditation procedure has been carried out representative and branch offices should prepare and register the company stamp and register it with the register of stamps of the State Registration Chamber.
Accreditation of representative offices can be valid for 1, 2 or 3 years, and if needed can be extended. Accreditation of representative offices is confirmed by the inclusion into the State Unified Register of Representative Offices of Foreign Companies accredited in the RF. A branch office can be opened for up to 5 years. Accreditation of representative offices takes up to 1.5 month. If needed this period may be shortened. Representative and branch offices act on behalf of the head company, and their managing directors act on the basis of power of attorney. Representative and branch offices are not legal entities. The head company bears all ensuing responsibility for their activities.
The main difference between representative and branch offices is that branch offices are allowed to carry out financial and economic activities in our country. Representative offices are limited to carrying out market research, elaborating business contacts and searching for clients.
Accreditation of representative offices is a cumbersome and crucial process. Our company renders a full range of services regarding accreditation of representative and branch offices in the State Register Chamber and the Chamber of Commerce and Industry of the RF, including accreditation of personnel, registration with the tax inspection and various funds.