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Open an Offshore Company in Russia

Open an Offshore Company in Russia

There are special economic zones where foreign entrepreneurs can open an offshore company in Russia, and this because the legislation of the Russian state does not allow the establishment of such companies in the entire country. We recommend those interested in starting an offshore company in Russia confidently contact one of our company formation representatives in Russia for complete information and support.

Information about offshore companies in Russia

As we mentioned at the beginning of this article, Russian legislation is not permissive regarding the establishment of offshore companies. However, there are special economic zones, created on the territory of Russia, where those who want to open an offshore company in Russia can benefit from a preferential tax system. Among them we list:

What activities can offshore companies undertake in Russia?

The special economic zones of Russia mentioned above allow the establishment of offshore companies, and these are divided into several economic sectors, for different activities. For example, imports and exports of goods are accepted, without them becoming the subject of duties.

This is an advantage for foreign investors who want to carry out their business and operations on the territory of Russia, without submitting to an expensive tax system. Regarding how to open an offshore company in Russia, we recommend those interested contact one of our local specialists to benefit from support in this endeavor.

How many years can an offshore company operate in Russia?

Offshore companies in Russia can be active in this market for around 15-20 years. Thus, companies of this type, established in jurisdictions such as Saint Petersburg, Dubna, or Murmansk, can have a validity of up to 20 years. We recommend that after the establishment of an offshore company in Russia, you also contact our accountants in Russia to be able to align with the legislation in force in this field, as well as with the financial requirements.

Offshore zones in Russian Island and Oktyabrsky Island

According to Law no. 291-FZ, Primorsky Krai of the Russian Island and Oktyabrsky Island of the Kaliningrad Region are two special administrative regions where international companies can operate. There are a series of tax benefits and even a special currency regime that encourages the attraction of foreign investors in Russia’s business climate.

The government of this country is the one that ensures the optimal functioning of these territories or offshore zones, with a view to the socio-economic development of the Far East Federal.

Credit institutions, as well as payment infrastructure or payment systems operators, are not accepted in this line of business. On the other hand, it is allowed to re-domicile foreign companies in the offshore zones mentioned above.

Our company formation specialists can help you with opening offshore companies in Russia, respectively with the formalities involved in this process.

Discover below some statistical data about companies registered in Russia:

  • • In 2021, over 47,000 limited liability companies and around 329 joint-stock companies were registered.
  • • Although over 500 companies have suspended their activity, according to the data for the end of 2022, they keep open the option of returning to the Russian market.
  • • The data for June 2022 show that over 3.6 million self-employed operated micro-sized enterprises in Russia.

We invite you to contact our company formation agents in Russia to find out all the details about how to open an offshore company in Russia.