Here are some criteria by which you can compare bank offers:
commission for transfers to accounts of individuals and legal entities;
cash withdrawal fee;
commission for replenishing an account in cash or by transfer from another account;
the bank's reputation and customer focus.
We highly recommend Tochka. It's a reliable and proven bank that offers free account maintenance, free transfers and withdrawals, cashback up to 15%, and much more. More details are available on the official website .
You can also register your individual entrepreneur or LLC online for free , without filling out forms, visiting the tax office, or paying government fees.
4. Determine the form of business registration
Before launching your business, you need to ensure you have the appropriate business registration form. New entrepreneurs can choose from three options:
Self-employed status. If you plan to work without hiring employees, this registration option is the best option. After registering as a self-employed entrepreneur, you will only need to pay professional income tax. The rate is 4% for individuals and 6% for legal entities.
Individual entrepreneur (IP). This form of registration allows for a staff of up to 100 people, and no start-up capital is required to launch a business. If an IP operates under a simplified tax system, they only need to file a tax return once a year, which can be done through online accounting services.
An LLC (limited liability company). This type of business is created by one person or a group of up to 50 people, each of whom contributes their own funds to the total authorized capital. There are no restrictions on activity. Unlike a sole proprietorship, an LLC can be partially or fully sold. The difficulty in opening this type of business lies in the need to prepare a number of documents (the resolution establishing the LLC, the minutes of the founders' meeting, the charter, etc.). You will also need to consider hiring a professional accountant.
Self-employment, individual entrepreneurship, and limited liability companies can be registered both in person and online.
If you are having difficulty choosing a business registration form, please seek assistance from a qualified legal advisor.
5. Obtain permits
In some cases, simply registering as an LLC or sole proprietorship isn't enough. Certain types of businesses require special licenses. A full list of these licenses can be found in Article 12 of the Russian Federation Law "On Licensing Certain Types of Activities." Before issuing a business permit, the competent authority will check the company for compliance with safety requirements.
To request a license, you must complete the following steps:
fill out an application in electronic or paper form;
collect copies of the necessary documents;
pay the state fee (this can be done using the online banking system);
submit documents in electronic/paper form.
Important: the license is not stored as a paper document, but as an entry in the registry.
Rules for filing reports
A new entrepreneur should also know how reporting documents are processed. Most modern companies in Russia submit them electronically. To ensure proper documentation, it's important to obtain a digital signature in advance. Electronic document submission is carried out through a personal account on the government services website or through an electronic document management operator, with whom you'll need to sign a contract.
If you plan to sell goods subject to mandatory labeling, be sure to familiarize yourself with electronic document management. Only with its help will you be able to effectively track the entire chain of custody from manufacturer to final seller online.