Foreign brands may return to Russia

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10.000 rubles

To register a company in Russia, it is essential to have the amount of at least 10000 rubles to be contributed to the bank account as being the charter capital. Record setting forth the level of allocation of capital shares between all the founders of the LLC.

Company Formation in Russia

Limited liability company (LLC)

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Tax namePercent %Date:
Corporate Tax Rate20.00Dec 2021
Personal Income Tax Rate13.00Dec 2021
Sales Tax Rate20.00Dec 2021
Social Security Rate30.00Dec 2021
Social Security Rate For Companies30.00Dec 2021
Social Security Rate For Employees0.00Dec 2021

10 Steps to Open a Company in Russia – read more in Articles

List of documents required for registrating LLC company in Russia:

  • Passports of the founders and general director (copies);
  • Application filled in according to form P11001;
  • Decision of the founder or minutes of the meeting of founders of the LLC company;
  • Articles of Association of the LLC company in Russia;
  • Receipt for payment of state fee for registrating llc company;
  • Documents that confirm the existence of a legal address for LLC company in Russia;
  • Notification of the choice of a specific taxation system for newley opened LLC company in Russia.

How to start a business in Russia – read more in Articles

Open a Company in Russia
Open a Company in Russia

Foreign business sees an opportunity to work in Russia through its partners, who will develop the brand and, as a result, the reputation of the company. Foreign business is looking for partners in China, Japan, the UAE, and Turkey.

This approach will make it possible for companies to maintain their brand. At the same time, a small foreign business abandons its brand name and operates in Russia under a new brand. Thus, foreign companies keep their business in Russia.

 Leading analysts predict a return to the Russian market of large Western brands by the end of 2022. At the same time, companies that will not return to Russia will be replaced by businesses from China. The Ministry of Industry and Trade has designed a list of the needs of the Russian economy by sector and handed it over to Chinese colleagues.

Recall that most Western brands left the Russian market at the beginning of March this year. Among them are Apple, Adidas, IKEA, Samsung. Almost completely suspended the automotive business in the Russian Federation: Audi, BMW and Skoda. Many companies were forced to leave the Russian market due to economic sanctions.

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