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ACCOUNTING OF FOREIGN BRANCHES AND REPRESENTATIVE OFFICES

The operation of a branch or representative office of a foreign company always faces a number of difficulties. It is necessary to navigate in the Russian legal system, to know the specifics of interaction with supervisory authorities.

In addition, the procedure and form of accounting and reporting are legally established. And they have their own features. Therefore, competent accounting support for foreign representative offices and branches in Moscow is a demanded service.

ACCOUNTING OF BRANCHES AND REPRESENTATIVE OFFICES

Accounting of a foreign branch or representative office includes the same aspects as the accounting of any company registered in Russia. In addition there is internal reporting established by the parent company: in a foreign language and taking into account the legal framework of the country in which the central office is located.

There are also taxation features that must be taken into account in order to avoid problems. In this situation, the cost of accounting support for foreign representative offices and branches by specialized professionals is worthwhile. And in most cases, this service significantly reduces the costs of the company.

ACCOUNTING SUPPORT OF FOREIGN REPRESENTATIVE OFFICES AND BRANCHES BY ROSCO

RosCo is a team of professionals who have extensive work experience with foreign organizations that conduct business in Russia. We perform accounting support of foreign representative offices and branches in Moscow, trying to offer to each client optimal conditions of cooperation.

Why in most cases is it advantageous to entrust accounting of a branch or representative office to specialized professionals?

It's simple: The features of working with foreign companies require knowledge of the Russian legislation and the legislation of the country in which the head office is located, as well as the knowledge of a foreign language at a high level to ensure full communication with the client and the ability to promptly provide him with detailed information in an accessible manner. Not every accountant meets all these requirements, it is not easy to find such a specialist, and he/she will have to pay accordingly. Complex accounting support for foreign representative offices and branches, the cost of which is lower, allows you to receive the necessary services at a lower cost.


RosCo offers:

Full accounting of the branch or representative office, including accrual of salaries, accounting of costs and income, preparation of financial statements, including those for the parent company.

Personnel records management.

Drawing and submission of tax reports, as well as reporting to non-budgetary funds.

Multilingual staff of specialists, including English, Turkish and Chinese.

The price for accounting support of foreign representative offices and branches by RosCo will depend on the volume of services provided.

We work under the comfortable for the client conditions, offering both full-service support and one-time services as required.

More information about our offer you can find out from RosCo specialists by phone or through an online consultant on our website.

WHY ROSCO?
EXTENSIVE WORK EXPERIENCE
Our accountants have a
extensive work experience and
regularly attend train
courses
TIMELINESS
courtesy and timeliness
of the work of RosCo's accountant is checked by
the internal control
service
LATEST TECHNOLOGY
In our work we use the
latest technology
of accounting software
and not only it
QUALITY OF WORK
Quality of work of RosCo's
accountant is checked by the
internal audit service
FREE CONSULTATIONS
We provide free consultations on
current activities
to our clients
ENALTY COMPENSATION
We compensate penalties and fines,
if they are due to the fault of
our accountant
General information about the SME Register
General information about the SME Register
May a company, which the foreign companies are members to, be entered into the SME Register (the register of small and medium-sized enterprises) and on what conditions? Today we’ll discuss that in this video. First of all, it should be noted that the SME Register is organized by tax authorities, and a list of companies entered into the register may be found on the official website of the Federal Tax Service: https://ofd.nalog.ru. Small and medium-sized enterprises include companies and individual entrepreneurs that meet certain restrictions on the structure of the authorized capital and also if: - the average staff number is not more than 100 persons and income is not more than 800 million rubles (for small enterprises); - the average staff number is no more than 250 persons and income is no more than 2 billion rubles (for medium-sized enterprises). On December 1, 2018, the amendments made to Law No 209-FZ were entered into force. The point is that Russian companies with a share of foreign capital exceeding 49% may also obtain SME status if the company’s foreign members: - gained an income from their business activities not exceeding 2 billion rubles during the previous calendar year; - had the average staff number not exceeding 250 persons during the previous calendar year; - a state of permanent residence of foreign member of the Russian company shall not be the Offshore areas*(a list of offshore areas is established by the Ministry of Finance). If the share of foreign members in the Russian company does not exceed 49%, then such a requirement is not imposed for the purpose of designating as SME. What is a purpose of the register? A company may rely on a number of privileges if it is entered into the SME Register. Among them are: - Ensuring the implementation of “supervisory holidays” for SME; - Special tax regimes - Simplified tax and accounting rules - Simplified forms of accounting and statistical reporting, tax returns for individual taxes and fees; - Simplified procedure for conducting cash transactions; SMEs may not set a cash limit. - Privileged payment procedure for state and municipal property privatized by small and medium enterprises. During the coronavirus pandemic, the importance of entering the company into the SME Registry increased For example, in order to receive a subsidy for the salary with the Statutory Minimum Wage Index equal to 1, a company (among other requirements) must be entered into the SME Register. The so-called “credit holidays” apply to companies that are performing their activities in sectors most affected by coronavirus and are also entered into the SME Register. RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
What do you need for accreditation of a foreign representative office? (part2)
Opening their branches in Russia, many of foreign companies prepare the necessary documents on their own. They often get a denial of accreditation because of the finer points. To avoid such troubles, you should take into account not only the requirements of the Order of the Federal Tax Service on accreditation of branches and representative offices, but also the general principles for preparing documents. See more in our video. 1. Data check 2. Legalization of a document 3. Translation of documents 4. Application for accreditation RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
What do you need for accreditation of a foreign representative office?
Opening their branches in Russia, many of foreign companies prepare the necessary documents on their own. They often get a denial of accreditation because of the finer points. To avoid such troubles, you should take into account not only the requirements of the Order of the Federal Tax Service on accreditation of branches and representative offices, but also the general principles for preparing documents. See more in our video. 1.Originals or copies 2.Where can you get the document 3.Terms of issue RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
ORDER SERVICE "ACCOUNTING OF FOREIGN BRANCHES AND REPRESENTATIVE OFFICES"
 
Date of foundation
company «ROSCO»
2004
Membership in professional organizations:
SRO NP «Audit Chamber of Russia»
(Certificate No 1809 dated 28.12.2009)
Chamber of Tax
Consultants
(Certificate No 78)
NP «Partnership of RSE»
(Russian Society of Evaluators)
Membership in public association:
Moscow Chamber
of Commerce and Industry
(Certificate No 123-973 dated 21.12.2009)
Non-Profit
Partnership of Turkish Entrepreneurs (RTIB)
Ratings:
A++1+++1++[%]
(as per the results of 2009 -
А++1+++1+[%])
Company
is included in the register of reliable enterprises of Moscow
Certificates of conformity:
Certificate of conformity to the requirements of GOST R ISO 9001-2008 (ISO 9001:2008)
Professional
liability
is insured