Business in Russia
The best way to start a business in Russia is to register a company. The process of creating a new company is optimized by the tax authorities every year, the procedure takes three working days and is not subject to state duty. A visit to the tax inspectorate is not required, the notary will check the documents, certify them with an electronic signature and send it to the authorized body.
A foreign citizen can act as a founder of a company without any restrictions, while the position of CEO requires an expat to have a work permit.
The most common form of doing business is a limited liability company. Companies registered in the form of LLC have a minimum number of requirements:
- Valid legal address;
- Paid-up authorized capital (at least 120 euros).
Moreover, companies in the form of LLC can use a simplified taxation system, which will allow them to pay a single tax payment in the amount of 6 percent, which is one of the lowest in Europe.
There is no need to submit reports every quarter, only once at the end of the year.
The combination of the above legal factors and the promising Russian market guarantee high profitability of your business.
Related: Open a llc company in Russia
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