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Ex. 17. Sum up what you have learnt from the text and expand the statements.

1.Personal and professional qualities of a business owner.

2.Advantages and disadvantages of running your own business.

3.Legal and structural frameworks of businesses.

4.Set up-business-procedure’s steps.

Ex. 18. Read the list of documents and some tips, which are necessary for a new company’s registration. Speak about the difference between legal and structural frameworks of businesses in Russia.

Documents Required for a Business State Registration

1.An application form verified by notary: P21001 – for registration a private individual; P11001 – for registration a body corporate, issued 26.02.2004.

-Type or use block letters when filling out your application.

-Use black or blue ink.

-Date and sign the form in the presence of notary.

-Both forms can be bought from special shops or taken from Internet.

2.Charter of a firm (two copies).

-It is necessary only for a body corporate.

-Specify legal and structural framework.

-Consult your lawyer or use such a program like Consultant Plus to prepare the Charter.

-In Chapter “Economic Activity” all kinds of the activities you both plan and intend further on are to be listed in order not to repeat again all set up-procedures when starting new economic activities. They must correspond to codes you will note in the supplement to form P11001. These codes can be copied at your local tax office.

3.Founders’ agreement on the establishment of the business (two copies).

-Clearly specify the sum of authorized capital.

-It is necessary only for a body corporate.

4.Minutes of the founders’ meeting.

-Three points are important to mention in it: the founders’ decision to establish a company; to appoint a head of it; about authorized capital.

-It is necessary only for a body corporate.

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5.Photocopy of the private individual passport.

-It is necessary only for a private individual.

6.Confirmation of registration dues payment.

-2000 rubles for a body corporate.

-400 rubles for a private individual.

-Take all stipulations from the territorial tax office.

7.Application to the local tax inspection for a preferable method of taxation.

-Consult your accountant.

8.Documents certifying payment of 50 per cent authorized capital.

-It is necessary only for LLC and SC.

-The total amount is about 10000 rubles.

Ex. 19. Translate the sentences from Russian into English using the appropriate word combination given in the brackets.

1.Мой друг решил открыть ______ (to set up; to set about) своё дело.

2.Индивидуальный предприниматель ______ (a man of property; a private individual) – проходит более простой и быстрый процесс регистрации.

3.Ты сам себе хозяин ______ (your own boss; your owner) в своей компании.

4.Чтобы образовать ______ (to organize; to establish) юридическое лицо,

нужно создать ______ (to draw up; to create) устав ______ (a charter; a statute), учредительный договор ______ (a contract; an agreement), провести собрание учредителей и подготовить его протокол ______ (protocol; minutes).

5.Индивидуальный предприниматель не должен тратить большую сумму,

состоящую из ______ (consisting of; consisting from) пошлины ______

(dues; duties) за регистрацию фирмы и уставного ______ (working; authorized) капитала.

6.Индивидуальный предприниматель платит за _____ (registering; registration) регистрацию меньше.

7.Индивидуальному предпринимателю не надо искать юридический ______

(legal; juridical) адрес.

8.Ему _____ (enough; sufficiently) достаточно указать в документах домашний адрес.

9.Индивидуальные предприниматели могут вести простую бухгалтерию

______ (a double entry bookkeeping; a single entry bookkeeping).