Oil and gas represent the most exported products of Russia, the country being rich in natural resources and serving many business partners and collaborators at an international level. Entrepreneurs interested in opening a trading company in Russia can rely on the support of our representatives who can handle the entire formalities. Our company formation agents in Russia can tell you more about the important aspects of trading business formation in this country.
How can I open a trading company in Russia?
In most cases, the limited liability company represents the most suitable business structure for import and export activities in Russia. We present you a few of the important steps to follow and respect when opening a trading company in Russia:
- • The OOO is the limited liability company in Russia that can be registered with a minimum share capital of RUB 10,000.
- • At least one shareholder is needed for opening an LLC in Russia.
- • A Russian bank account is required for an LLC in Russia.
- • A representative is needed for the formation of OOO in Russia.
- • The trading company in Russia must be registered for tax purposes.
- • The Ministry of Industry and Trade in Russia will issue the required license for such activities.
- • Registration with the Customs Authorities and Trade in Russia is required for the import and export company.
It is important to note that a trading company in Russia must have a manager in charge of the relations with the Russian customs authorities. Once the relevant documents are accepted, the company can have import and export activities in Russia and abroad. We mention that our company formation specialists in Russia can help both domestic and foreign entrepreneurs start their trading operations by helping with the incorporation formalities. Complete information about Russiatrading company can be offered by our specialists.
Exports of Russia
Russia was the biggest wheat exporter in the world, the trading operations registering more than USD 8,14 billion. This is followed by the export of semi-finished iron worth around USD 7 billion, and coal tar oil of more than USD 4,49 billion. However, crude petroleum was the top export of Russia, worth around USD 123 billion, followed by refined petroleum of more than USD 66 billion. Most of the exported products took the road of China, Belarus, Germany, and the Netherlands in 2019. Russia was the 13th exporter in the world in the same year and represented a top business partner at an international level. More about trading in Russia can be discussed with our agents.
Imports of Russia
Russia imported cars worth around USD 11 billion in 2019, followed by packaged medicine worth around USD 10,2 billion and vehicle parts of more than USD 8,20 billion. Most Russian imports came from countries like China (one of the most important trading partners of Russia), USA, Belarus, Italy, and Germany. We remind that Russia signed several international agreements to align with the import and export activities developed worldwide.
Making investments in Russia
Russia is home to a large number of companies established with foreign capital. The business environment is highly appreciated among international investors looking for profits and a proper climate for development. The special economic zones of Russia are quite beneficial from a taxation point of view. For instance, the company start-up costs can be reduced by 30% if the businesses are established in these special economic zones of Russia. The ease of doing business in Russia is one of the solid and advantageous points of the business climate because entrepreneurs appreciate the benefits of a country that simplifies the registration formalities. We present you some interesting facts and figures about the business and economy of Russia:
- • Around USD 464 billion represented the total FDI stock in 2019 for Russia.
- • The 2020 Doing Business report ranked Russia 28th out of 190 worldwide economies in matters of simplified business.
- • The Netherlands, Bermuda, Cyprus, UK, Ireland, and Luxembourg are the main business investors in Russia.
- • Nearly USD 25 billion was the total value of the greenfield investments in Russia in 2019.
Choosing our agents in Russia
Having a business in Russia as a foreigner requires attention in terms of formalities and registration, in order to avoid possible errors. Therefore, international entrepreneurs should solicit the support of our experienced company formation specialists in Russia who can manage all the formalities of business incorporation, licenses and permits, bank accounts, tax registration, and more. Our clients rely on professionalism, transparency, objectivity, and confidence when working with us.
We invite you to contact our company formation agents in Russia and find out more about trading in Russia and how to open an import and export company in this field.