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How Easy is it to Start a Business in Russia

How Easy is it to Start a Business in Russia

Simple conditions for setting up and developing a business are among the things an entrepreneur should check before investing. The simple formalities for registering a company in Russia can be explained in detail by our team of company formation agents in Russia.

In addition to this aspect, it is good to know that our specialists can deal in detail with all aspects related to the registration of a company. Discover in this article essential information about Russia ease of doing business.

What are the steps to set up a company in Russia

The formalities for registering a company in Russia have been greatly simplified recently, and foreigners who want to develop their business in this country can enjoy specialized help from our team. Here are some simple steps to start a business in Russia, noting that you can rely on our support from the beginning:

  1.  Creating the documents – The Articles of Association are the most important documents of a company because they contain detailed information about the owners, activities, rules, and other aspects. It is not difficult to create these documents, but you can call on our specialists to register a limited liability company, the simplest available structure in Russia.
  2.  Opening a bank account – In order to be able to deposit a minimum share capital of RUB 10,000 for an LLC in Russia, a bank account is required. It will later serve the financial operations of the company.
  3.  Choosing managers – Every company needs directors, so this aspect must be taken into account when setting up the company and creating the documents.
  4.  Registration with the relevant authorities – Russian Trade Register is the institution that deals with the registration of companies in this country. This process should not take more than a month to complete. With the help of our team of specialists, you can set up a company in a relatively short time. If you are wondering how easy is it to start a business in Russia, we invite you to get in touch with us.
  5.  Obtaining the necessary licenses – Depending on the activities you want to develop in Russia, you need certain licenses and permits. The company’s documents will be required to obtain them, and the process is a quick one.
  6.  Registration for payment of taxes – Any company established in Russia must be registered in terms of taxes. This process is not complicated, and the formalities are relatively simple. More about Russia ease of doing business can be discussed with our specialists.

So, these are some simple steps related to registering a company in Russia. Considering the formalities without complexities, you can call on the support offered by our local agents. Thus, you will be able to focus on starting the business and developing it in Russia. Feel free to find out more about Russia ease of doing business from our experts.

Is it difficult to register the brand in Russia?

Registering a trademark in Russia is a process that can be simplified with specialized help. If the rules on logos, designs, and slogans are followed, then the process of registering a trademark in Russia will be quite easy. It is important to keep in mind that offensive signs or those that may already exist on the market are not allowed. So, for a simple process, do not hesitate to get in touch with our team of specialists in company formation in Russia.

Sole entrepreneur, a great business option in Russia

Entrepreneurs can develop businesses on their own, without the need to set up a company and go through the formalities imposed by the authorities. A sole trader is a simple form of business that can be tried by foreign entrepreneurs who want to operate on the Russian market as soon as possible. With fewer documents to complete, a sole proprietorship is a good option to grow a small business in Russia.

In terms of investment options, Russia offers a multitude of opportunities, especially in the oil & gas sector, the most prolific in the country. You should also consider the experienced workforce, economic stability, and support in the form of incentives for foreign investors. Here are some statistics that underline in a few lines the economic direction of Russia:

  1. According to the 2020 Doing Business report provided by the World Bank, Russia ranked 28th out of 190 world economies for the simple conditions of doing business.
  2. About USD 464 billion represented the total FDI for Russia in 2019.
  3. In terms of foreign partners, Russia benefits from major investments coming from countries such as Cyprus, Luxembourg, the Netherlands, or Bermuda.

Therefore, foreigners can benefit from Russia ease of doing business in all sectors of interest. Those who want to register a company in Russia can contact our team.