On September 12, 2013, the Government of the RF approved a bill, “On introducing changes to legislative acts of the RF,” which would specifically change the accreditation procedures for representation and branch offices of foreign legal entities in Russia.
The draft bill would assign the Government with a commission to select a federal executive agency authorized to accredit representation and branch offices of foreign legal entities acting on the territory of the Russian Federation and establishes regulations for the accreditation.
Under the bill, Russia’s Federal Tax Service (FTS) would become a federal executive agency responsible for carrying out accreditation procedures for representation and branch offices of foreign legal entities. Currently this function is fulfilled by the State Registration Chamber of the Ministry of Justice and the Chamber of Commerce and Industry of the RF.
The FTS would be authorized to maintain a register of representation and branch offices of foreign legal entities and establishing order of maintaining the registry, registration procedures, forms and formats of documents, used for accreditation.
The draft bill was approved with allowances made for suggestions made by the Bank of Russia for exclusion of branches of foreign credit organizations from standard accreditation. The organizations would abide by procedures as established by the Bank of Russia.
The draft bill will be introduced for consideration to the State Duma in the near future.
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