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Investment in Russia 
- Russia is the richest country in the world in terms of natural resources
- Relatively cheap labour Educated and ready for retraining people
- Islands of high technology
- Competitive export-oriented production
- 150 mln. Consumers
- Political stability and Economic growth
- Reformist Government and further liberalisation
- Favourable taxation regime
- Political stability and Economic growth
- Reformist Government and further liberalisation
- Favourable taxation regime
Foreign Investor Basic Rights
- Legal protection of investor's business
- To exercise various forms of investing
- To reimburse in case of nationalisation and requisition of the property or business with foreign investment
- Indemnity from legislation changes disadvantageous for a foreign investor
- Of due consideration of a dispute in court
- To use the revenues, profits and other legally acquired money sums on the territory of the Russian Federation and export the same from the Russian Federation
- To buy, own and sell land, enterprises, buildings and other real estate assets
"On Foreign Investments" (1999)
Types of legal presence on the Russian market
Foreign investor can:- Act directly as private investor
- Open representative office or branch of the foreign legal entity
- Establish Russian legal entity
- entirely foreign owned
- joint venture
"On Foreign Investments" (1999)
Steps to register a business
- State registration authorities
- Statistics authorities
- Tax inspection
- Social welfare funds
-Pension
-Medical Insurance
-Social Security - Registering in the Federal Securities Commission
"On registration of legal entities" (2001)
Main taxes
| Profit tax | 24% |
| Personal income tax | 13% |
| Unified social tax | 5%-35,6% |
| VAT | 20% |
| Road tax | 1% from gross sales |
| Property tax | 2% |
| Sales tax | 4% (Moscow - 5%) |
Part I,II (1998,2001)
Types of bank accounts
- Russian convertible account («K»)
- Russian non-convertible account («N»)
- Russian account for individuals («F»)
- Russian account for state issued securities («S»)
- Foreign currency account
Central Bank of Russia (2000)
Employment issues
- Min wage 300 roubles
- Regular work week 40 hours
- Overtime 120 hours in one year
- Sick leave compensation 60-100% (usually not exceed an amount equal to 85 min monthly wages)
- Vacation 28 work days
- 9 official holidays (11 days)
Custom clearance
Types of custom regime:- Release for free circulation
- Re-import
- Transit
- Customs warehouse
- Duty free shop
- Processing on the customs territory
- Processing under the customs control
- Temporary import (export)
- Free customs zone
- Free warehouse
- Processing outside the customs territory
- Export
- Re-export
- Extermination
- Rejection in favour of the state
Custom payments
- Customs duties (max 25%)
- VAT (20%)
- Excise duties
- Custom Charges:
- for granting licenses
- for customs clearance
- for storage of goods
- etc.
and Custom Code (1993)
Useful contacts
| State Registration Chamber | http://www.palata.ru Tel. +7 (095) 246-7200 |
| Federal Commission of Securities Market | http://www.fedcom.ru Tel. +7 (095) 797-9564 |
| State Custom Committee | http://www.gtk.ru Tel. +7 (095) 449-7200 |
| Central Bank of Russia | http://www.cbr.ru Tel. +7 (095) 921-3116 |