Joint stock companies and LLCs are the most popular form of business. However, the Commercial Law of Russia requires major investors in Russia to register as Joint-stock companies.
Though it's relatively easy to set up a sole trader firm in Russia, there are several considerations to make and processes to go through. One of the considerations is determining whether you are legally permitted to run a business in this country. The second thing is to come up with a viable business idea that churns out profits. Once the two are taken care of, you can now go ahead to deal with the practical part of it.
With a population of 144,3 million, Russia has the highest population rate in Europe and has about 109,5 million internet users. This makes it the biggest internet market in Europe. Most internet users in Russia shop their products online, mostly from local sites like Eldorado, Ozon.ru, Mvideo.ru, and international sites such as Amazon and eBay.
Taxation generally is divided into three stages: federal, local, and regional taxes. Most taxing guidelines talked of at the national level follow these three levels of Taxation. Also, tax is based on your residency status in Russia. This means the government is fully aware of your income status.
Russia is open for business to foreigners who may want to start investment companies. With its alluring economic conditions, foreigners are given opportunities to invest in agriculture, mining, industrial production, infrastructure, to mention but a few. Therefore if you are considering investing and making money, Russia is the place to choose.
The two most common company types in Russia are the Limited Liability Company (LLC) and the Joint Stock Company (JSC). Though Russia's law provides for various business structures, most foreigners find themselves choosing between these two