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Doing Business in Russia as an Expat

Published: February 18, 2014 (Issue # 1797)




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Are you thinking of looking for a job or even starting a business in Russia? Expats working in Russia number among the highest paid worldwide, with one-third earning over 250,000 USD per year. There are many opportunities in the fields of human resources, business development, IT and finance. The industrial sector, especially energy, construction and metallurgy, also offers many jobs. A good number of expats also find jobs in Russia in the management tier.

A special visa category exists for highly-qualified professionals. These work visas are processed within weeks, and have no quotas, but in order to qualify for this type of visa you must earn a minimum of two million rubles (57,800 USD) per year. If your position does not qualify you for this visa category, your potential employer must apply for a corporate work permit at least one year in advance. Since there are annual quotas for the number of foreign work permits that can be issued per year, there is no guarantee that your application will be successful.

If your dream is to open your own business in Russia, it is important to do your research and know what to expect and what you are getting yourself into. The rules and regulations for companies and businesses in Russia may vary considerably from those in your home country. First of all, you need to know what kind of business you’re allowed to open as a foreigner. Generally, there are no restrictions for foreigners who wish to open a business in Russia, except if they are in the fields of insurance, air transportation or gas supply. There are also restrictions for foreign investors who wish to invest in companies active in the strategic sector.

Next you need to decide what type of legal form your company will have. Depending on different factors, you can register it as a limited liability company or a joint stock company. Foreign companies are also allowed to open branches in Russia. If you wish to register yourself as an individual entrepreneur, then you must first possess a temporary or permanent residence permit.

Before going to Russia to open your company, you should visit on a fact-finding trip. On this trip, you can learn more about the local economy and do some market research. How is business done in your branch or field? What are differences between how things are done in Russia and in your home country? Will your business be catering mostly to expats or locals as well? In the latter case, be sure to learn as much as you can about local lifestyles, attitudes and wants. Is your business addressing a local need in the community?

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ALL ABOUT TOWN

Thursday, July 31


Develop your leadership abilities during a lecture by famous Russian author and coach Radislav Gandapas. The event starts at 9 a.m. at 5 Lodeinopolskaya Ulitsa. The price for entry is 20,500 rubles ($570).


Relax and enjoy a Parisian atmosphere with some romantic and laidback jazz tunes during the Night of French Music at Lenny Jam Cafe, 63 Ligovsky Prospekt. The entrance fee is 250 rubles ($7).


The Women’s Business Club is hosting a Beauty Brunch where participants are invited to discuss the latest news in the beauty industry and listen to lectures by professional stylists in the business.



Friday, Aug. 1


Bikers from all around the world will gather to take part in a parade, extreme shows and rock concerts during the International Biker Festival that revs its engines today and runs through Aug. 3 near Olgino Hotel, 4/2 Primorskogo Shosse.


The Peter and Paul Fortress will be turned into an open-air cinema today and tomorrow as part of the 5th International Short and Animation Film Festival. A huge screen across the fortress walls will air short films non-stop with board games, photo sessions and other activities also on offer for visitors. For more information, visit www.opencinemafest.ru



Saturday, Aug. 2


Gatchina Palace Park Museum will host its second annual Night of Light, an impressive audio-visual show across the night sky. Tickets are 600 rubles ($16).


If graphic design is more your thing then check out Illustration Day, where you will be able to visit an exhibition, attend lectures by professionals and even show experts some of your own work. The event starts at noon at Zona Deystvia, 73 Ligovsky Prospekt. The entrance fee is 350 rubles ($10).



Sunday, Aug. 3


History lovers shouldn’t miss the chance to see reenactments of World War I battles in Pushkin at noon. Besides exciting war scenes, visitors can enjoy live music, historical costumes, an equestrian show and a fancy-dress parade starting from the Moscow gates.


Garage Sale, the popular and growing flea market where nothing is priced over 500 rubles ($14.11), starts today at noon in Loft-Project Etagi, 74 Ligovsky Prospekt. Be sure to get in early to score a bargain. Entry costs 50 rubles ($1.40)



Monday, Aug. 4


Continue the working week with a calm and steady mind with a free yoga lesson at 7 p.m. in the Bukvoyed store at 23A Vladimirsky Prospekt.



Tuesday, Aug. 5


Visit The Romanov Dynasty doll exhibition today, where more than fifty porcelain dolls depicting Russian rulers, and made by Olina Ventzel, will be on show. The exhibition continues through Aug. 31 in Sheremetyev Palace, 34 Fontanka Naberezhnaya.



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