The financial sector in Russia has all the attributes to align with competitors worldwide, as it is stable, and reliable. Even if in recent years there have been significant organizational changes, Russia offers diverse openings for investors who want to enlarge their activities through financial companies in the country. With respect regarding the provisions of the Banking Law and the Commercial Code in Russia, foreigners are invited to establish their companies in the Russian financial sector with comprehensive and reliable support offered by our specialists in company incorporation in Russia.
Types of financial companies you can open in Russia
The banking sector represents the biggest financial source for many companies in the country and the National Bank in Russia oversees the activities of the financial field. It is good to know that there are also other financial institutions which can serve to natural persons and also corporations. Among these, the following entities can be successfully established in Russia:
• investment banks;
• brokerage companies;
• credit companies;
• credit unions;
• retail banks;
• loan associations;
• mortgage firms.
A financial business in Russia may activate in the country only through joint stock companies which can be registered if RUB 100,000 are provided as minimum share capital. Our company formation agents in Russia can offer guidelines and help throughout the entire registration process of a financial company in the country.
Obtain the license for your financial firm in Russia
Just like in most industries, the financial sector also requires special licenses and permits to establish the activities as a foreign entrepreneur in this important domain. The Federal Financial Markets Service is the entity that issues the licenses for companies offering investment funds to both individuals or several types of enterprises, in compliance with the Federal Law. As for insurance companies or branches of foreign banks, the license to operate in Russia is issued by the National Bank.
Requirements for opening a financial institution in Russia
Besides the above-mentioned rules linked to how a company can be incorporated in Russia, one should know that for creating a financial business, a particular capital is imposed, for example, RUB 90 million for establishing a non-banking institution, or RUB 180 million for establishing a bank in Russia. Having a consistent and trustworthy financial environment, and varied incentives and policies to encourage the foreign investments, Russia is accessible for those interested in opening a financial business.
For complete information in this matter, please feel free to contact our company formation representatives in Russia.