Saint Petersburg represents the second largest city after Moscow, the capital of Russia, and a reputable business center which aligns with major financial players worldwide. The strategic sea exit to the Baltic Sea offers a multitude of business opportunities for foreigners interested in the Russian market and especially in Saint Petersburg. Investors can set up varied types of business, considering the Company Act which oversees the activities in all domains in Russia. Our company formation agents in Russia can help entrepreneurs establish their companies in Saint Petersburg.
Registering a company in Saint Petersburg
From the beginning, we mention that the company incorporation in Saint Petersburg, a prolific city from a business point of view, is subject to less bureaucracy. Most entrepreneurs decide for limited liability companies which is an appropriate entity under which activities can be performed in Saint Petersburg. The minimum share capital in this case is set at RUB 10,000 and must be provided at the time of incorporation. Information about the ownership, the type of business, the activities, the board of managers is comprised by the Articles of Association, a necessary document submitted at the company registration with the local Trade Register in Saint Petersburg. Besides LLCs in Russia, business persons can set up joint stock companies, limited or general partnerships, and sole proprietorships.
Saint Petersburg is a preferred business destination for foreigners, and in order to respect the legislation in this sense, our specialists in company formation in Russia are at your disposal with complete support and guidance.
Conditions to open a business in Saint Petersburg
The company registration process in Russia comprises several steps among which we mention the following:
• deposit the minimum share capital in a bank in Russia;
• provide complete information about the owners of the business;
• register for social contributions;
• register for VAT;
• obtain the company seal.
Saint Petersburg offers a wide range of business opportunities and solutions and has open doors for investors who want to carry out their activities in the Russian market.
The economy of Saint Petersburg
Saint Petersburg is a recognized business hub and a respectable gateway for trading activities with countries worldwide. Manufacturing, IT, tourism, telecommunication, transportation, health, and engineering are among the prolific sectors which sustain the economy in Saint Petersburg. Furthermore, this city is part of the UNESCO World Heritage, due to numerous well-preserved sites and architectural monuments which are appreciated by foreign tourists.
Entrepreneurs who want to set up businesses in Russia and especially in Saint Petersburg are kindly invited to contact our Russian company incorporation agents for assistance.