With a complex market, starting a business in Russia can be challenging and calls for a deep understanding of the local legislation, trade and customs rules and other essential matters. For any business to take advantage of the powerful economy; NNRoad can help you establish the legal presence in Russia while taking full responsibility of all the rules and regulations involved.
- Confirm the selection of a business entity type and shareholder structure in accordance with the Russian Company Act.
- Guiding and preparing legal registration documents like an Application form for company registration, Articles of Association and other incorporating documents if needed and filing them with Trade Register.
- Advise on the initial capital amount, if applicable.
- Translations of documents into Russian as required.
- Assist with registration of the company with the relevant Tax Authorities.
- Registration with Moscow Center.
- Support with after company setup services.
- Assist in getting company stamps.
- Bank Account Opening assistance.
As an Employer of Record; NNRoad will employ the staff on behalf of your company in Russia so that you do not need to set up a legal entity in Russia. If you have already selected a candidate or require an employee one in Russia, NNRoad will assist you through employment laws thereby, eliminating all the risks involved.
- Engaging employees through local labor contracts including contract administration, engagement, extension termination and conversion to a permanent hire.
- On-boarding and off-boarding employees following Russian labor law practice.
- Registration of employees with social security board and with the tax office.
- Complete payroll solution and mandatory benefit administration.
- Employee management according to local laws, including employee record, timekeeping, bonus and allowance management, expense and claims, and leave employee database management.
- Preparation and execution of salary taxes payments.
- Payment management, including invoicing customers/clients and salary payments.
Paying your staff in Russia can be complex and time-consuming, exposing you towards compliance failure. Outsourcing your payroll management to NNRoad will lower the cost and reduce all the risk and liabilities involved as we will provide you with all the necessary guidance and will look after all the management required for the smooth running of your Payroll and HR process in compliance with Russian laws.
- Registering and de-registering the necessary company and personnel information for payroll calculation in compliance with local rules.
- Registering all local employees with the social security board, if required.
- Calculation of gross salary, salary deductions, such as social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, paid/sick leaves etc. if applicable.
- Preparation of regulatory employee data forms.
- Pro-rata calculation for people who join/resign.
- Providing a monthly payroll summary to the Company.
- Obligatory reporting (2-NDFL, 6-NDFL, Staff number report, 4-FSS, SZV-M, CZV-Stazh, P-4).
- The monthly issue of electronic pay-slips.
A foreign business might face many challenges relating to Russian accounting legislation. Maintaining your financial transactions and records according to the local rules and standards could lead to an extra burden on your company. NNRoad can help you in preparing and filing all required reports and also help with tax reporting to authorities. You can trust and rely upon our experienced who will look after all the accounting and reporting services.
- Full set accounting services in compliance with local legislation and accounting standard.
- Preparation of Monthly or bi-monthly reports to different government authorities.
- Processing primary documents like Invoicing.
- Reporting of statutory taxes like VAT, social taxes etc., funds like a pension.
- Monthly and Annual Tax Declaration.
- Submission of statutory reports before Tax Authorities and other state authorities with compliance to local law.
- Consolidation accounting and preparation of group financial statements.