How to Expand Your Business to Russia as a Foreigner

Want to expand your business to Russia as a foreigner? You are in luck. Russia, the largest country in the world, is prime for new foreign investments. The country has massive untapped business potential, presenting your company an opportunity to enter the market. Here are some useful resources to help you enter the market successfully.

Expanding Your Business in Russia as a Foreigner

Entering your company in a new market, especially one in a different country, requires documentation and other essential processes like registering the business, finding an appropriate business name, and so on.

Here are a few helpful steps to guide you when expanding your business to Russia as a foreigner.

1. Get the Right Immigration Status

To be able to expand your business to Russia as a foreigner, you will need the appropriate immigration status. And so, it is important to check if your current immigration status allows you to start a business in Russia. If you do not have one yet, you will need to decide if you need a residency or work permit.

2. Decide How to Register Your Business

When expanding your business to Russia as a foreigner, you have the following options:

Register as an individual entrepreneur or sole proprietorship.
Register using a Branch or Representative Office (RO).
Establish a Russian Legal Entity as a —
- Limited Liability Company
- Partnership, or
- Public or Private Joint Stock Company.

Decide on a Local Company Name

This is an important part of expanding your business to Russia as you want to make sure that your business name is available and not already in use. Additionally, you will need an address for your business when registering it.

4. Prepare Documentation

The Russian Legislation states that the founders of a business looking to open or expand to Russia will need the following documents:

Full company name as well as any abbreviations that may be used
Names and signatures of the founders
Amount of shareholder contributions plus the nature of these contributions
Business plan as well as rules of the company
Legal responsibilities

This process may differ based on the type of legal structure you choose to register your business under.

5. Register Your Business with the FTS

Next, register your business with the Federal Tax Service (FTS) by sending them the following documents:

Registration form with notarized signatures (R200)
Copies of foundation papers
Proof of legal status as the business founder
Receipt of state registration fee (R4000)

If your application is accepted, then your business will be registered for tax purposes and you will receive the following documents:

Certificate of State Registration
Tax Certificate
Tax ID number
Copy of foundation papers with the mark of the registering authority
Extract from the Common State Register of Legal Entities

6. Open a Bank Account

Opening a Russian bank account is the next important step in expanding your business to Russia as a foreigner. To open a business account, you will need:

Notarized copy of signatures for the account (R200)
Documents confirming the identity and authority of the signatures on the account
Tax Certificate
Russian business license
Founding papers

7. Get a Russia Phone Number

Next on the agenda is to get a Russian phone number. You can purchase Russian numbers from a virtual phone service provider like Global Call Forwarding. Russia toll free numbers will give locals within Russia the option to call your business for free, no matter where you are located. Local Russia numbers let them call you for regular local calling charges.

Investing in Russian phone numbers will help you get in touch with locals, business contacts, and institutions as you prepare to move your business to Russia and build local networks. Have calls routed to any number or location of your choice with international call forwarding.

8. Advertising & Promote Your Business

Finally, you can start promoting your business as an international business. Consider using international SEO and digital and social media advertising to boost your business’ international visibility.

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