Doing business in Russia

January 12, 2017

 

Having reformed its forces, an air of confidence and growth surrounds the Russian economy. Of course, despite of the positive strides it has made, there are sincerely many challenges on doing business in this diverse and notoriously tricky economy.

Being more precise, traditionally regarded as a resource-reliant economy, Russia is well-known for its retail, telecommunications and real estate development in recent years. All these urged to the expansion in the country’s consumer base. In other words, incomes are increasing and consumer lending is also becoming more widespread, which has allowed the country to weather the economic storm far better than other export-reliant nations.

Furthermore, in this point we should underline that as market matures and open market policies are favoured over a protectionist stance, the international business community is starting to warm to Russia as an investment destination.

In addition to this, it is essential to mention that starting a business in Russia takes an average of nine procedures and over twenty three days to set up your business in Russia. More than this, it costs on average 2.3% of income per capita but choosing St Petersburg for setting up a business is surely ranked the easiest. On the other hand, registering property is relatively cheap in Russia and registration fee are among the lowest in the world.

Given that obstacles are difficult to overcome without local help, if you are interested in doing business in Russia do not hesitate to come in contact with the expanded network of Advanced Consultants S.A. experts that will overtake to start up your business.

 

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