Russia is obviously the biggest country on the planet as far as land area is concerned. Russia has recently been the ninth most populous nation in the world and it covers over one-eighth of the world’s total populated areas. Being situated in the northern fragment of Eurasia, the capital of the Russian Federation as well as its seat of power happens to be Moscow. Russia has the biggest reserves of minerals as well as energy resources worldwide, and its economy is considered to be amongst the largest (9th largest) on earth so company registration in Russia could be considered.
Most of Russia’s revenues are generated from oil, timber, natural gas, and metal. Agriculture is another source of income for Russia and the government has implemented farmer-friendly policies too. As Russia has the fourth biggest total area appropriate for cultivation across the globe, investors are motivated to go into farming.
Russia has also been recognized as one of the biggest exporters in America as well as Europe when it comes to grains, meat, fish, and seafood.
If you plan to set up business in Russia and company registration in Russia, please read this article first.
Oil and natural gas business
Of course, Russia is amongst the largest oil and natural gas producers in the world which makes the industry somewhat open and financially viable for business development. Putting money in the petroleum and natural gas sector involves tons of cash and you ought to consider owning a petroleum and gas industry portfolio in the country if you happen to be an approved vendor. It will be feasible to enter the industry by means of the upstream or downstream sector based on your economic conditions. It’s worth noting that if you want to make it big in the oil and gas sector, you need to be in favor with the Russian government given that the Russian government is accountable for regulating the industry. Moreover company registration in Russia for that type of business will take couple months.
Seafood and fish business
Russia’s position allows it access to three oceans across the world, i.e. the Atlantic, the Arctic, and the Pacific Ocean and this makes it the biggest fish and seafood producer on earth. You should think of opting for a fishing enterprise in case you are planning to operate a business and company registration in Russia due to the fact that this really is a lucrative business.
Russia was able to transform from one of the biggest grain importers on the planet to one of the biggest exports within a short span of time thanks to the prompt intervention by the Russian government in the agricultural industry. It will be prudent to consider opting for grain cultivation if you plan to invest in the agriculture sector in Russia. As a grain farm worker in Russia, you will come across several benefits. Being a grain farmer in Russia, you will have easy access to government low-interest loans not to mention vast, agriculturally productive and cultivated soil for your farm as well.
Metal and mechanical engineering enterprise
One more key contributor to Russia’s economy happens to be the manufacturing of tools and metal work. It will be extremely lucrative to establish your own business in the manufacturing of tools in case you happen to be a mechanical or production engineer and are looking to start a company in Russia. Russia has the largest metal deposits in the world, and so running metal tools and instrument company is cheaper over there. Company registration in Russia for that type of business won’t take too much time.
Business of clothing and accessories
Another flourishing small business in Russia happens to be the clothing and accessories industry. You need a perfectly positioned store so as to set up your own clothing and accessories business and you also require the capital required to pack your shop with all types of clothing, belts, shoes, caps, and other fashion items. It is important to keep in mind that Russia is very cold for the major part of the year, and so you should consider packing your store with winter gear, booths, and so forth.
You should plan to start your own cafe in Russia in the event that you are searching for a low capital enterprise in the country. A large number of folks will patronize your coffee shop every single day provided the shop is located at the core of a busy Russian district.
Business of educational consultancy
Russia has a strong higher education system that is reputed worldwide and its universities recruit students from around the globe. One sensible way to develop a company in this sector would be to build your own private educational service for the students from abroad. Foreign students can be helped to gain admission in any Russian university, they can likewise be aided in their visa processing plus you can also assist them with their lodging, and so forth.
Russia can boast of having the world’s largest forest and is likewise the largest timber exporter on earth. However, Russia’s forest is largely unexplored, and everyone who enters a timber business in the country will be able to generate profit from it. You might think of opting for a furniture production company even if you do not plan on exporting timber.
Commodity retailing in Russia is one more extremely thriving business. The positive thing about this type of business is the fact that you can easily go for more than one product, and you can likewise retail as many products as your market requires. Russia happens to be the 6th top country in the world to have the highest purchasing power parity, and this helps to make retail business a highly profitable industry in the country.
Pharmaceutics and cosmetology
Cosmetology and the pharmaceutical sector is yet another booming industry that is open to the investors in Russia. The market is, in fact, huge for the products from this particular sector. Therefore, it will be sensible on your part to create your personal cosmetology and pharmaceuticals firm in Russia in case you are planning to establish a company there.
As compared to the rest of the nations on the planet, Russia happens to be the 6th largest country when it comes to PPP (purchasing power parity); as a result, it will be a smart idea to do business right there.
If you would like to know more about doing business in Russia, require market analysis, legal opinion or company registration in Russia please feel free to contact our specialists. One of our branch offices is located in Saint Petersburg.