It is going to be easier to contact with state budget funds

The President of the Russian Federation signed the Federal Law №59-FZ «On Amendments to certain legislative acts with regard to reduction of terms of the registration of legal entities and individual entrepreneurs in the state budget funds and the abolition of certain provisions of the Federal Law “On insurance contributions to the Pension Fund of the Russian Federation, the Social Insurance Fund of the Russian Federation, the Federal Compulsory Medical Insurance Fund”».

The following amendments were taken:

1. A registration term of the insurer in the state budget funds is reduced to 3 days.
2. Terms of information exchange between the registration authority and the state budget funds are also reduced.
3. Entrepreneur can receive information form the state budget funds in electronic form e-mail address given at the moment of the submission of documents to registration authority.
4. An obligation of legal entities and entrepreneurs to notify the state budget funds about bank account opening is cancelled (this provision enters into force on the 1st of May, 2014)

The Law enters into force on the 30th of September, 2014.

Based on: http://www.nalog.ru/rn77/news/tax_doc_news/4604318/

Simplification of procedure is very useful action aimed at improvement of the business environment in Russia.

If it was made 6 months ago, we could confidently talk about increase in attractiveness of doing business in Russia for investors.

Now this relaxation brings benefits for only domestic entrepreneurs.

I hope that lawmakers will continue to improve the business infrastructure in Russia. This will provide a competitive advantage for doing business in Russia and allows attracting