Small business setup in Russia
Russia offers a promising environment for small businesses with its large market, rich natural resources, and prospects in energy, manufacturing, and technology. We have the expertise to assist start-up and growing small businesses by providing support in navigating the regional market and company formation processes needed to establish your enterprise in Russia. Let’s talk about the benefits of starting a small business in Russia and how our specialized solutions can help ensure your success.
Formalities and procedure
Registering a small enterprise in Russia requires going through a series of steps that can be finalized within a short period of a few weeks.
Choose a business name
The name of the business must be original and not currently being used. You can verify the availability of a name on the Russia Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Limited Liability Company (LLC), Private joint-stock company (PJSC), Public joint-stock company (PJSC), Branch Office, Holding Company to help you make an informed decision that fits your needs and goals.
Set up legal address
It is crucial to have a legal address when launching a business, as it acts as the primary point of contact for government agencies, legal authorities, and important business communications. Selecting a legal address that complies with local regulations and fits your business needs is essential.
Get the necessary paperwork ready
Our team of professionals will assist in developing detailed and tailored documentation specifically for your company’s structure and objectives. We ensure compliance with all legal requirements and will handle the filing process on your behalf.
Open a bank account
Setting up a business in Russia necessitates having a corporate bank account. We will guide you every step of the way to ensure you meet all requirements and facilitate the process of opening a bank account with a respected financial institution in Russia for your small business dealings.
Company registration
We take care of the registration process with entities such as the Trade and Companies Register and tax authorities, freeing you from the administrative tasks. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is crucial to keep precise financial records. Our group of accounting professionals is able to assist in implementing efficient accounting and bookkeeping methods that adhere to the regulations in Russia.
Small business examples
Smaller businesses operate in various industries and sectors, each with unique requirements. Here are some examples of small-sized businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Russia
Russia is an attractive location for starting a small business, with many benefits to offer.
Strategic location
Russia provides a vast market, plentiful natural resources, and prospects in energy, manufacturing, and technology for companies interested in opportunities in a dynamic environment. With its strategic location bridging Europe and Asia, expansive landmass, and efforts by the government to encourage investment and innovation, Russia offers many benefits for businesses seeking to establish themselves in the area.
Favorable tax regime
Russia has a flat corporate income tax rate of 20%. Encouraging investments in specific regions and industries, Russia offers incentives. Businesses are drawn to the country’s extensive market and natural resources, particularly in manufacturing and energy sectors.
Banking
Russia’s extensive presence in the banking sector offers a range of possibilities for financial services, investments, and banking activities in one of the biggest economies globally.
Our small business setup solutions
We understand the value of your time and resources. This is why we offer two convenient choices to make the company formation process easier.
Business formation online
With the online platform offered by Russia, individuals can start and finish the business establishment process from any location worldwide. The option to track progress, submit necessary paperwork, and take advantage of our services via secure digital platforms guarantees a seamless and hassle-free experience.
Business formation remotely
If you prefer a more hands-off approach, we are able to manage all the paperwork for you. Our team of experts will handle all the required formalities, complete the necessary paperwork, and communicate with the appropriate authorities on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin the journey towards achieving your business goals. Let’s embark on this journey together.