State Corporation () is a non-membership non-commercial organization, a type of
legal entity
In law, a legal person is any person or legal entity that can do the things a human person is usually able to do in law – such as enter into contracts, lawsuit, sue and be sued, ownership, own property, and so on. The reason for the term "''le ...
in
Russia
Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...
introduced in 1999 (Article 7.1, NCO Law). Each state corporation is created by a separate Russian federal law.
These state corporations are
non-profit
A nonprofit organization (NPO), also known as a nonbusiness entity, nonprofit institution, not-for-profit organization, or simply a nonprofit, is a non-governmental (private) legal entity organized and operated for a collective, public, or so ...
s established only under a federal law and are different from all the other organizations referred to in the mass media as "state corporations". They are regulated by bespoke legislation. According to the law, a state corporation is wholly owned by the Russian Federation directly, bypassing the
Federal Agency for State Property Management
The Federal Agency for State Property Management (Rosimushchestvo) () is a subdivision of the Russian Ministry of Economic Development that manages Russia's federal state property.
History
The agency was formed by a presidential decree, No.314, ...
.
For example, VEB was used as an off-budget funding vehicle for the state's special projects. VEB is overseen by a nine-member board that puts Dmitriyev together with seven government ministers and a representative of the Kremlin. An opaque organization held firmly controlled by President Vladimir Putin, Vneshekonombank (VEB) was used to finance the Winter Olympics in Sochi and extend Russian financial influence in Ukraine.
Full list of State corporations
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Deposit Insurance Agency
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VEB.RF
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Fund of Housing and Communal Services Development Cooperation
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SC Olympstroy
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Rostec
Rostec, formally trading as State Corporation "Rostec", fully the State Corporation for the Promotion of the Development, Manufacture, and Export of High Tech Products "Rostec" and formerly Rostekhnologii, is a Russian State corporation (Russia), ...
(formerly, Russian Technologies State Corporation - «Rostechnologii»)
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Rosatom
State Atomic Energy Corporation Rosatom (commonly referred to as Rosatom rus, Росатом, p=rosˈatəm}), also known as Rosatom State Nuclear Energy Corporation, (), or Rosatom State Corporation, is a Russian State corporation (Russia), sta ...
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Roscosmos
The State Corporation for Space Activities "Roscosmos", commonly known simply as Roscosmos (), is a State corporation (Russia), state corporation of the Russian Federation responsible for space science, space flights, List of space agencies, c ...
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Oboronlogistics
Former State corporations
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Rusnano
Rusnano Group () is a Russian state-established and funded company. The Rusnano Group's mission is to create competitive nanotechnology-based industry in Russia. Rusnano invests directly and through indirect funds into all major knowledge-based ...
(now re-registered as
Open joint-stock company
A public joint-stock company, abbreviated PJSC (, abbreviated ) or open joint-stock company, abbreviated OJSC (, abbreviated ), is a type of company in many successor states of the Soviet Union, particularly in Russia. Its distinguishing featur ...
)
See also
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State corporation
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goo ...
(generically)
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Types of business entity#Russia
References
{{reflist, 2
Sources
State Corporation goes for flow
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Corporations
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