Registration of legal entities and individual entrepreneurs will become more convenient through a notary – Russian practice

On May 12, the State Duma of the Russian Federation adopted a legislative draft in third reading, aimed at optimizing the registration of legal entities and individual entrepreneurs when the applicant applies to a notary. As soon as the provisions approved by the deputies come into force, the issue of creating your own company will be most conveniently solved with one visit to a notary office.


The legislative draft prepared in the fall of last year at the initiative of Russian government consists of two main provisions. The first one is about the termination of a notarized power of attorney required while submitting documents to the tax authority through a representative. The second one is about a transfer of the responsibility, to submit documents to the Federal Tax Service by a notary independently while certifying authenticity of signature on the application issued for state registration of legal entity or individual entrepreneur. Thus, it is recommended to combine two notarial activities – certifying authenticity of an applicant’s signature and issuing documents to the tax authority for registration – in a complex service.


As a result, it will become more convenient and cheaper to open your own business and it will be enough just once to come to the nearest notary, who will actually do everything for the applicant and ensure that the documents are received as soon as possible. And wasting time on a personal visit to the tax office or looking for reliable intermediaries to submit documents on your own behalf will be pointless.


Working with applicants in a “one stop shop” format and switching to complex technological notarial actions instead of laconic ones is one of the key trends in the development of modern notaries. So, for several years now, a similar principle has been applied when notarizing real estate transactions: the notary undertakes all legal checks and guarantees the legality of the transaction and its legal purity, and immediately after signing the contract, he sends the package of documents in electronic form to the Federal Register. That is, the prompt resolution of the issue of registering the transfer of ownership is the final stage of notarization of the transaction and does not require any additional payments from the applicant. The same principle applies when entering into inheritance rights to real estate.


Recall that the notary and tax authorities have also successfully practiced the digital format for the exchange of information and documents for many years, which not only speeds up all procedures, but also provides additional guarantees for the protection of legally significant information and their authenticity. In general, today notaries offer a whole range of convenient and reliable tools for protecting property rights for business, such as certifying transactions and decisions of legal entities' governing bodies and safekeeping of documents that are significant from a legal point of view, for example lists of participants in companies.