Foreign investors who want to start the operations in the import and export sector in Russia can receive an in-depth presentation from our company formation specialists in Russia. The business registration formalities can be entirely handled by our experts. As such, entrepreneurs can have a complete idea about the company incorporation in Russia in the trading sector.
Opening a company in the trading sector in Russia
Foreigners in Russia can easily register a company in Russia in most sectors of interest. The limited liability company is the main business form available in Russia and the structure that fits most of the needs of foreign business investors. A minimum share capital of RUB 10,000 deposited in a local bank in Russia is a mandatory condition for opening a limited liability company.
There are specific licenses and permits to obtain for an import and export company in Russia, and these are issued by the Ministry of Industry and Trade License in Russia, in order to use them for customs clearance.
For instance, the institution will issue licenses and permits for the import or export of radio-electronic equipment, hardware, software, etc. It is important to note that Russia imposes a series of restrictions for particular products that cannot be imported to this country. More details about how to open an import and export company can be offered by our company formation specialists in Russia.
Characteristics of the trading market in Russia
Foreign businessmen who want to open a company in Russia in the field of trading should know the main characteristics of the imports and exports in Russia. China is expected to be the major import and export partner in Russia in 2023. However, the economic relation between Russia and the European Union (EU) is very important, as Russia is one of the main trading partner.
The EU exports to Russia mainly machinery, chemicals and medicines, while Russian exports to EU raw materials, such as oil and gas. Ourcompany formation agents in Russia can offer more details in this sense and can help foreigners register a company in Russia. Information about imports and exports in Russia can be provided on request.
Russia – China trading facts
According to recent data, around USD 190 billion represented China’s trade with Russia in 2022. As such, of the total trade of China, 3% represented imports and exports with Russia. The Russian rail exports of liquified petroleum gas to China doubled in the same year.
Moreover, Russian exports to China implicates fish and seafood, fertilizers, oils and fats, mechanical equipment, copper, and many more. Those interested in Russia’s export to China can discuss to our company formation agents in Russia.
Our specialists in company formation in Russia can offer support to foreigners interested in starting a business in the import and export sector.
On the other hand, if you are planning a business in the trade sector in Russia, you should consider the necessary accounting services. Thus, we recommend our accountants in Russia who have experience in various areas. You can thus find out what payroll services entail, what bookkeeping means, or how much annual financial statements need to be prepared. Business owners can also benefit from financial planning or support for tax registration. Contact us, therefore, and discover the services we can offer you, including information about imports and exports in Russia.
Russia import partners
The data for 2021 showed that the largest import partners of Russia were Germany, USA, South Korea, and Belarus. Around USD 27.4 billion represented the estimated value of imports from Germany.
The top imports of Russia are:
- • Cars,
- • Motor vehicles,
- • Broadcasting equipment,
- • Computers,
- • Packaged pharmaceuticals.
If you are interested in opening an import and export company in Russia, we advise you to use the services offered by our local agents. They can manage the formalities for company incorporation in Russia in the desired sector of interest. Thus, you can rely on us in this endeavor to focus more on the investments you have to make in this field, on the Russian market.
More details about the imports of Russia can be solicited from our specialists. We remind that our company formation experts in Russia can help foreigners open a company in Russia and handle all the formalities. We can tell you more about imports and exports in Russia.
Russia major exports
In 2021, Russia was the 10th most important exporter in the world, with a total of approximately USD 484 billion. Russia’s exports include:
- • Crude petroleum,
- • Refined petroleum,
- • Petroleum gas,
- • Coal briquettes,
- • Precious metals, and mostly gold.
Most of Russia’s exports went to China, the Netherlands, the USA, Italy, and the UK. Considering the economic complexity index the top regions of Russia are the following:
- • Nizhny Novgorod
- • Penza,
- • Ulyanovsk.
Most exports left Moscow, the capital of Russia, with an approximate value of USD 204 billion, only in 2020, followed by St. Petersburg. More about Russia’s major exports can be discovered if you contact our team of specialists.
Russia and EU trade relations
Until recently, The European Union took advantage of one of the main traders, and that was Russia, based on the PCA, or the Partnership and Cooperation Agreement. The import and export relations between Russia and the EU continue in the current social context, although many of the terms and conditions have been changed. In matters of figures, the trade relations between the EU and Russia were pictured as follows:
- • Around EUR 257 billion represented the total trade of goods between Russia and EU countries in 2021.
- • Russia was the 5th largest trade partner for the European Union, in 2021.
- • Around 37% of the total trade of goods with the countries worldwide represented Russia’s partnership with the EU in 2020.
- • We mention that Russia is part of the World Trade Organization and also created a Customs Union with Belarus and Kazakhstan, back in 2010.
Interested in imports and exports in Russia and about how to start a company in this field? Contact us right away.
India, another solid trade partner for Russia
According to recent news, Russia and India have strengthened the trade relationship and it is believed it will continue so at least by the end of 2023.
As such, it has registered an increase in import trade values of Russia, starting from February 2022, which led to a bigger cooperation with India. As such, India is predicted to witness a burst of speed in trade, due to its substantial surge in imports from one of its major partners, Russia.
EORI registration in Russia
Another important aspect related to trading companies in Russia refers to the EORI registration. This is the Economic Operator Registration and Identification, or in other words, a code for each company with trading activities throughout the EU. This kind of code must comprise the VAT number of the company in Russia, the country code, plus other digits. Each company with import and export activities has unique EORI numbers. If you would like to apply for an EORI number for a trading company in Russia feel free to talk to our Russian company formation specialists. Information on Russia’s major exports can be provided on request.
Making investments in Russia
Foreigners in Russia benefit from a wide range of business opportunities and are protected by permissive legislation related to investments. The special economic zones of Russia already host a large number of companies with foreign capital. The affordable startup costs, the experienced and multilingual workforce, the tax exemptions available, plus the facilities offered in manufacturing, textile, tourism, engineering and IT are among the main business advantages appreciated by international entrepreneurs.
Working with our Russian agents
The import and export sector is quite essential in Russia and there are many international players who prefer this territory for business expansion. Starting from this aspect, we recommend specialized support for opening a company in Russia in the trade sector. The formalities may seem complex, but with the support offered by our specialists in the field, you can ensure that the company registration process is simple and fast. You can benefit from personalized offers, depending on the business projects you have in Russia.
Investors who need to receive more details on the imports and exports in Russia can contact our team of company incorporation representatives in Russia.
Foreigners in Russia can easily register a company in Russia in most sectors of interest. The limited liability company is the main business form available in Russia and the structure that fits most of the needs of foreign business investors. A minimum share capital of RUB 10,000 deposited in a local bank in Russia is a mandatory condition for opening a limited liability company.
There are specific licenses and permits to obtain for an import and export company in Russia, and these are issued by the Ministry of Industry and Trade License in Russia, in order to use them for customs clearance.
For instance, the institution will issue licenses and permits for the import or export of radio-electronic equipment, hardware, software, etc. It is important to note that Russia imposes a series of restrictions for particular products that cannot be imported to this country. More details about how to open an import and export company can be offered by our company formation specialists in Russia.