https://smarttravel.ae/product/business-visa-to-russia/The Russian Federation, like any other civilized country, does not deny foreigners legally residing in the country the right to carry out commercial activities. Moreover, in order to attract foreign investment, conducting business in Russia for foreigners is regulated by the same rules as for Russians. Thus, using visa support, a UAE businessperson can gain access to around 140 million-people market.
But still there are nuances. Let’s consider them in more detail.
Advantages of doing business in Russia
The outflow of foreign capital has culled the business environment. This “sanitary cleaning” significantly reduced competition in the market, opening more opportunities for UAE citizens.
Liberalization of legislation. Foreign capital is guaranteed a national legal regime, i.e., the same as for the Russian. In addition, the legislation guarantees the protection of investments, the possibility of their unhindered withdrawal to their homeland, etc.
Besides, Russia boasts low labor costs – the average salary in Russia is about $500. Because of this, many Chinese enterprises have already transferred their production facilities to Russia.
What a UAE citizen needs to do
There are certain regulations that you need to adhere to if you wish to launch a business in Russia.
Companies with foreign capital enjoy the same conditions, rules of operation, and benefits for doing business as Russian organizations, with minor exceptions. Features of doing business in Russia for foreigners are only in their legal status as the organizers of this business.
To open your own company as a foreign citizen, you must meet several simple conditions:
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legally stay or reside in Russia on the basis of a business visa to Russia or residence permit;
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at the time of opening a business, go through registration at the place of residence/stay;
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obtain a work permit or a patent – if the foreign founder plans to take a position in the company or does not have a residence permit;
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obtain a TIN (taxpayer individual number, also referred to as INN) with the tax authorities;
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apostille, translate, and notarize all documents submitted to the registrar if they are in a foreign language.
Therefore, you can start a new business in Russia relatively easily, and while the country is not the world’s leader in terms of the GDP and other such parameters, it still provides many opportunities for foreign entrepreneurs and investors.
