Nowadays many people consider business as the main tool for getting what they want: enough money to live, good house, car, possibility to travel etc. Any business is associated with difficulties and questions that should be solved. Especially when it goes about registration of company in Russia. Let’s talk about registration of companies (legal entities, residents of the Russian Federation). Nowadays there are many firms and organizations providing services for registration of companies in Russia. They can be: LLC (Limited Liability Company), JSC (Joint Stock Company) and JSC (Joint Stock Company).

Let’s see some detailed information about the procedure, timing, costs and key aspects of setting up a legal entity in the Russian Federation:

At the moment, the number of people wanting to start their own business has significantly increased. There is a number of reasons for that. People do it for self-realization, they want to make a lot of money and make their dreams come true. Some people want to have their own business because they have been fired from their job, and have no other prospects. Some people perceive their own business as a tool for investment and there are those who want to organize business to dispose of time and life. To become masters of their own lives.

Most often, when choosing a form of ownership for business, novice businessmen in Russia choose to be individual entrepreneurs. This is explained by simple registration and simple accounting.

Individual entrepreneur. An individual entrepreneur is a capable person doing business in different areas of business, duly registered without formation legal entity and entered into Unified State Register of Private Entrepreneurs.

The registration of individual entrepreneurs becomes more and more popular, and therefore the issues associated with it become more and more actual. There are many questions. But sometimes it is difficult to get the answers.

Though it is the most convenient way to control your own business, don’t forget about the great responsibility to the state, both for their own actions and for the employees’ actions, if there are any are.

Though the registration of an individual entrepreneur is quite easy, it is not possible for everybody to become an individual entrepreneur.

Who cannot be an individual businessman?

Russian laws provide a number of categories of citizens, for which the registration of individual entrepreneurial business is banned. According to the regulations, the following people cannot be individual entrepreneurs:

- Citizens with disabilities, including those who abuse alcohol or drugs;

- Civil servants or employees of the municipal authorities;

- Persons with no official permanent residence in the territory of the Russian Federation;

- Citizens who have not attained the age of majority, without the appropriate permits.

Meanwhile, stateless persons or foreign nationals which are officially registered in Russia, may be individual entrepreneurs.

Hence, in accordance with the Russian legislation, the registration as an individual businessman can be made by any citizen who has reached the age of majority and is fully capable, if his activities don’t come under special courts restrictions.

How to register. The registration of individual entrepreneurial business in Russia is possible in two ways: self-registration of documents or registration through appropriate commercial structures. In the first case it will be cheaper, but you have to be ready to face bureaucratic red tape. If you don’t hurry and can take your time, and if you have the opportunity to study some reference books, then self-registration is not difficult.

Making registration documents through intermediaries will take a little longer and it will cost you money. But this option will make you fully free of communication with government agencies and save much of your ??personal time. And, what is also very important, this will help keep your positive attitude allowing you to move forward in business.

Here is the list of documents authorizing the activity of an individual businessman.

If the registration was successful, the documents proving business activities are:

- a certificate of State Registration of a private person as an individual entrepreneur;

- a certificate on personal tax reference number;

-  an extract from the register of the Unified State Register of Individual Entrepreneurs.

After registering as an individual businessman, you need to apply to the district tax office, indicating the selected system of taxation. Be sure to provide the originals of the certificate of individual entrepreneur and your passport, along with the application for the registration in the Federal State Statistics Service. Over a month after the registration, you have to check in the pension fund your registration as a taxpayer. And the final step is opening a bank account, purchasing a cash management system, which must also be registered in the tax office, and a stamp of an individual entrepreneur.

Thus, observing all legal rules, avoiding mistakes and acting within the law, you will see that the registration of individual entrepreneurial business is not difficult. The first step towards your own business is done!