Starting Business in Russia

This table summarizes the procedures and costs associated with setting up a business in Russia

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Nature of Procedure (2006) Proc # Duration (days) US$ Cost Deposit capital in the bank and get a proof thereof  1  1  0.00 Pay registration fee. 2 1 0.00 Register with the unified register at the Ministry of Taxation of the Russian Federation on the local level, for obtaining the single number of state registration and the number of tax registration (identification number of taxpayer (INN)); also register 3 18 60.62 Notarize bank signature card.. 4 1 60.62 Open the company bank account 5 1 0.00 Inform Ministry of Taxation of the Russian Federation of the company bank account number and obtain a special letter of confirmation 6  5  0.00 Register the company with Moscow Center of Quotation of Work Places 7  1  0.00 Totals: 7 28 $121.24