Russia Flag

Country: Russia
Region: Europe
Currency: Russian Ruble (RUB) (???)
Languages: Russian
Time Zone: UTC +3 to -12

Phone Code: +7

Communications: Good

Formation Cost: 300 - 1300 USD$
Formation Time: 8 - 16 days
Maintenance cost: 100 - 300 USD$

Executive Summary: The territory of Russia stretches across 17m square kilometres and the country is almost twice the geographical size of the United States. The population is 143m. The economic and political situation has stabilised considerably since the break-up of the Soviet Union and Russia is now the world’s 7th largest economy. However, it is still relatively poor, with GDP per head of USD18,000 at purchasing power parity – 77th in the world. The currency is the Russian Rouble, and there are foreign exchange control laws in place. Economic activity is concentrated in European Russia in the country’s west. Most industries have now been privatised, but the Government continues to assert control over the oil and defence-related sectors. The economy has also become increasingly reliant on its vast mineral wealth: Russia is now the world’s largest oil producer, has the largest reserves of natural gas, and the second largest reserves of coal. Heavy industry remains a significant economic pillar, with Russia a top exporter of steel and aluminium. The Government has attempted to encourage the development of hi-tech industries, but with little success. Special tax regimes include a number of Special Economic Zones, and tax breaks for R&D. Russia’s investment climate is often marred however by state interference in the economy, arbitrary application of the law and heavy-handed law enforcement.

Suitable for: Insurance, Fund Management, Shipping, Aviation, Yachting, Trading Goods, Trading Financial, Intellectual Property/Licensing, E-commerce
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Company Purpose Stats:

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Vehicle Types: Limited liability companies, joint-stock companies, sole proprietors, general partnerships and limited partnerships

Capital primary business districts: Moscow

Good Relationships: Austria, Belgium, Bulgaria, China, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, India, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Pakistan, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Turkey, United Kingdom

Bad Relationships: Burma, Libya, Somalia, Sudan

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 20%, PIT 13%, VAT 18%

Treaty Jurisdictions: Albania, Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Belarus, Belgium, Botswana, Brazil, Bulgaria, Canada, Chile, China, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Ethiopia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Japan, Kazakhstan, Korea, Democratic People's Republic of, Korea, Republic of, Kuwait, Kyrgyzstan, Lao, Latvia, Lebanon, Lithuania, Luxembourg, Malaysia, Mali, Malta, Mauritius, Mexico, Moldova, Mongolia, Montenegro, Morocco, Namibia, Netherlands, New Zealand, Norway, Oman, Philippines, Poland, Portugal, Qatar, Romania, Saudi Arabia, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Syria, Tajikistan, Thailand, Turkey, Turkmenistan, Ukraine, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam

TIEA Jurisdictions: None

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