How to start a business

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how to start a business in russia
How to start a business in Russia

The best way for a foreigner to start a business in Russia is to register a company.

The procedure for setting up a business in Russia has been actively simplified by the government.

Today the process usually takes just three days and is not significantly different for a foreigner compared to a Russian citizen.

Founding a Limited Liability Company (LLC) is considered the most convenient form of business activity.

You need to fill the application form. Foreign nationals need to provide a notarized passport translation.

The validity of your signature on the application form should be notarized, after that it should be submitted to the relevant tax body.

You will require a legal address, a charter, and a minimum starting capital of 10,000 rubles (120 EURO).

You should also specify a general director of the LLC (this might be a foreign national with work permit) and be ready to regularly prepare and submit monthly accounting reports. Then it is possible to set up a bank account for the company.

There are many advantages of this type of business:

  • easier to borrow large amounts from banks;
  • easier to work with contractors;
  • private investors can enter the business;
  • LLC can be subject to 6 (six) percent tax.

Folow us on Youtube channel – Opening company in Russia

Related: Open a llc company in Russia

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