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Steps for opening company in Russia
Foreign investors can set their business operations in Russia with almost no restrictions. However, there are several domains which are restricted to foreigners or which impose special conditions, but this rule is not applicable to the travelling industry.
When opening a travel agency in Russia, businessmen will have to register the company under a legal entity, chosen from one of the following legal forms:
The most common legal entities in Russia is the limited liability company, which provides many advantages to the shareholders, such as the limited liability subscribed to the shares owned in the company.
The company must register for tax purposes and social funds and it will also be necessary to open a corporate bank account in which the minimum share capital will be deposited;
Registering an limited liability company for a travel agency in Russia
The LLC or OOO as it is known in Russia can represent the ideal business structure for entrepreneurs wanting to open a travel agency in this country.
The good news is that the minimum share capital for opening an LLC in Russia is set at RUB 10,000 or approximately EUR 140.
Here is information about the conditions for opening an LLC for your travel agency in Russia:
Our experts in Russia are ready to provide comprehensive support for foreign entrepreneurs and businesses, they will help you at all stages, from a preliminary assessment of the situation and choosing the best solution to obtaining all the necessary registration documents and getting started.
By seeking legal advice, you will receive the following guarantees: the result will be achieved within a certain period, and any issue will be resolved as quickly and efficiently as possible, and all this for reasonable money.
Besides, you will protect yourself from possible risks and mistakes in opening company in Russia, which can turn out to negative consequences.
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FAQ on opening a company in Russia
Can I set up a sole trader for my travel agency?
Yes, small entrepreneurs from abroad can choose the sole proprietorship for their travel agencies in Russia, a simple business form which can be easily established.
The important thing to consider is that a settlement account is needed for this structure because this will help you pay taxes, accept money transfers or pay the social contributions.
The good news is that a sole proprietorship can be ready in approximately 5 days, allowing entrepreneurs to start the business in a fast manner.
A sole proprietorship is recommended for small entrepreneurs who what to open a travel agency in Russia.
It is good to know that there are no harsh requirements for such a business form, nevertheless, if you want to meet no problems, you may talk to our consultants.
Do I need a special license for a travel agency in Russia?
No, there is no need for a special license or permit to start your travel agency in Russia, however, it is important to register the business with the Association of Tour Operators in Russia.
In the case your travel agency will deal with full touristic packages which include plane tickets too, tour operators will have to register with IATA or the International Air Transport Association.
What type of activities can I have with a travel agency in Russia?
Your travel agency in Russia can have varied activities like offering internal travel packages or external offers.
This means you can develop inbound and outbound services through the travel agency in Russia.
Here are also other activities a travel agency can have in Russia:
- Hotel bookings can be organized by a travel agency in Russia;
- VIP and group services can address to international companies or other organizations;
- If it is the case, museum tours can be handled on request;
- Foreign tourists can solicit visa services for countries where such conditions are imposed.
Looking for opening a travel agency in Russia? Let our team of company formation representatives in Russia provide in-depth information and assistance in this direction. They can help you open a company in Russia and deal with the authorities in charge.
Can I open a travel agency in Moscow?
Yes, you might want to pay attention to the business opportunities in Moscow and open a travel agency in this city, the capital of Russia. Here you may find the ideal environment for establishing a business in the tourism sector considering the appealing city for travelers. Here is information about the tourism sector in Russia:
- RUB 4,908 billion represents the direct contribution of tourism to the Russian GDP in 2019.
- RUB 2,350 billion represents the domestic tourism outflow in Russia for the previous year.
- The interest of Russian tourists in international trips rose by 25% for the first 6 months in 2019.
- Approximately 2,7 million Russians traveled to Turkey last year.
The tourism industry in Russia
The information revealed by the Travel & Tourism Competitiveness Index showed that Russia provides a multitude of cultural sites and, from a logistics point of view, the state offers air links which are beneficial to incoming tourists. From the latest study, carried out in 2013, Russia improved its position by 18 points, currently occupying the 45th place. It is important to know that in 2015, 2,6 million foreign tourists chose Russia as their holiday destination. As for 2019, the tourism activities grew by 10% in Russia, meaning that numerous foreigners decided for vacations in this country.
Why open a travel agency in Russia?
Running a tour operator in Russia is often a great business idea chosen by domestic and international investors who want to generate profits in a prolific sector like tourism. A travel agency in Russia can run varied activities and provide varied touristic packages, whether focusing on local tourism or abroad. It is important to have a business plan right from the start and pay attention to the most preferred destinations in the world, and all kinds of tourists. In addition, running a travel agency in Russia as a foreign investor means having many business advantages in terms of taxation and incentives, especially if you create jobs and hire local staff.
Persons who need further information on the tourism industry in Russia can get in touch with our team of company incorporation representatives in Russia.
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