Russia, like any other civilized country, does not restrict foreigners in the right to carry out commercial activities. Moreover, to attract foreign investment, business in Russia for foreigners is governed by the same rules as for Russians. However, there are some nuances.
When opening a company in Russia it is necessary to take into account the economy and legislation specifics. Among other things, foreign entrepreneurs may encounter certain specifics of the Russian mentality, bureaucracy and ignorance of the local market rules. We will talk about the problems that foreign entrepreneurs in Russia often face in the following articles, and today, we will consider the arguments "for" starting a business in the Russian Federation.
- Liberalization of legislation. Foreign capital is guaranteed a national legal regime - the same as for Russians, besides, legislation guarantees the protection of investments, the possibility of their unhindered withdrawal abroad, etc.
- The target audience. The population of the Russian Federation is approaching 150 million people. There are many large cities with more populations than some countries
- Low competition. Business development in Russia is not proceeding as fast as in the West, which creates many free or not highly competitive market niches. However, this does not apply to the most highly profitable business areas.
- Low level of professionalism of Russian entrepreneurs. A foreign businessman offering a quality product / service at an affordable price will be out of competition
- Simplicity and low cost of company registration. The government in every possible way promotes the development of entrepreneurship in the country. The company registration process is simplified, additional support programs are introduced, etc.
- Low labor costs - the average salary in the Russian Federation is around $ 600, which is why many Chinese enterprises have already transferred their production facilities to Russia
- The ability to own the entire business, not just its share. Unlike many other countries, where a local resident must be a co-founder of a business.
In recent years, the procedure for starting a business in Russia has become much easier.
To open an own company, a foreign citizen must meet a few simple conditions:
- legally stay or reside in Russia, in particular on the basis of refugee status, temporary residence permit or residence permit.
- should pass registration at the place of residence / stay
- obtain a work permit or a patent - if the foreign founder plans to take a position in the company or does not have a temporary residence permit / residence permit
- it is obligatory to issue a TIN
- apostille, translate and notarize all documents submitted to the registrar if they are in a foreign language.
Russian legislation does not provide for any other peculiarities, procedures or registrations specifically for foreign beneficiaries and entrepreneurs. All other procedures, from filing an application, terms and methods of registration and ending with the submission of reports to funds and the tax service, are carried out in the same way as by Russians.
Despite the fact that the procedure for opening a business in Russia for foreign citizens is not so complicated, it has a number of subtleties. This is especially true of the collection, preparation and legalization of documents. Banal mistakes in documents can stretch the time of legal entity registration for weeks and months, and also entail unnecessary expenses.
If you need expert advice, you can leave a request through the feedback form on the website ("ask a question" on the right side of the page) or by the contacts below:
Maxim Kuznetsov - vice-president of the RAUIE
investment@raspp.ru
WeChat: maximkuznetsov
