The document was drafted by the Ministry of Economic Development under the national business initiative project to improve the investment climate in the Russian Federation and in execution of Subparagraph D of Paragraph 1 of Presidential Executive Order No. 596 of May 7, 2012, On Long-Term National Economic Policy.
The purpose of the roadmap is to shorten deadlines and to reduce the number of procedures needed for the establishment of limited liability companies as the main organisational legal form of small and medium-sized businesses.
The measures approved by the document are designed to improve the cooperation procedures between the registering agency and applicants; to ensure conversion to predominantly online state registration; to improve inter-departmental cooperation; and to provide more detailed information to entrepreneurs about the state registration procedure.
The measures stipulate the following:
The possibility of submitting registration documents through intermediaries – registration agents, including notaries, lawyers and banks;The possibility for greater flexibility for the founders of limited liability companies in determining the relevant statutory capital payment deadlines (within two months from the date of state registration of the company). This will reduce the initial outlays of entrepreneurs in starting up a business;The possibility of using standard articles of association in registering limited liability companies;A reduction of data-exchange deadlines between the registering agency and state extra-budget funds;The abolition of mandatory seals pending the state registration of a legal entity;
Legal entities and self-employed business persons will no longer have to notify tax divisions and state extra-budget funds about the opening or closing of bank accounts.Furthermore, the implementation of these measures will allow the Russian Federation to improve its position in the World Bank's Doing Business ratings.