Setting up a manufacturing company
is advantageous for investors who want to generate substantial profits in Russia. However, it is important to consider the rules for registering a company, as well as the necessary business licenses, where applicable. We mention that our team of company formation agents in Russia
can provide you with the necessary support in this endeavor, plus complete information on how to open manufacturing companies in Russia
Steps to open a manufacturing company in Russia
First of all, local and foreign entrepreneurs must choose the right structure for the new business. In this case, LLC or OOO
as it is known in Russia, is recommended. Here is what it means to register an LLC in Russia
, reminding that our team can provide support in terms of formalities:
- • RUB 10,000 represents the minimum share capital for the opening of a OOO in Russia. This must be deposited in a bank account opened in this country.
- • A single shareholder is sufficient to open this type of business structure in Russia.
- • The Articles of Association represent the most important documents of a OOO in Russia, and they must contain information about shareholders, activities, business location, etc.
- • Registration for the payment of taxes and social contributions is mandatory in Russia.
Foreign entrepreneurs need to know that the costs of setting up a company in Russia
are affordable, but for a manufacturing company, other investments are needed. We emphasize that our company formation specialists in Russia
are at your disposal with information and assistance if you want to open a business in this country.
What you need to keep in mind when opening manufacturing companies in Russia
Experienced investors know how important it is to verify the market, in order to know which customers to address. However, in this field, there are other important aspects to consider, and among these, we mention:
- • Technology is important in the manufacturing process, and entrepreneurs can rely on robotic systems if they have a certain investment budget.
- • In order to be able to develop the business in the manufacturing sector without the fear that the imposed rules are not observed, it is important to check the legislation regarding the rules of protection, permits, and approvals, elimination of pollution, recycling, etc.
- • Quality control is important before opening manufacturing companies in Russia. Periodic checks are also recommended.
- • Collaboration with foreign business partners is another aspect that must be taken into account in this industry.
Do I need a business plan for manufacturing companies in Russia?
It is even recommended to consider a business plan for the future manufacturing company in Russia. Such a plan may contain complete information about the products to be manufactured, the type of customer it is addressed to, financial details, start-up costs, the manufacturing process, and safety environment details. Support for the creation of a business plan can be offered by our experts with extensive knowledge in this field.
The location of a manufacturing company in Russia
Depending on the volume, a manufacturing company in Russia
may have its physical headquarters or factory in the surrounding areas of the most important cities in Russia
. These are special areas for such industries and are preferred by foreign entrepreneurs due to the benefits offered. But, in addition to the manufacturing location, a head office is also needed, and our agents can tell you more about this aspect.
Why invest in Russia
is a major economic force among world leaders and ranked 11th in 2020 with a GDP of about USD 1.46 trillion. The US, Turkey, the UK, and France are some of Russia's strategic partners and important collaborators when it comes to investments. Here is some other interesting information about Russia's economic direction:
- • In 2019, the total FDI in Russia was approximately USD 464 billion.
- • According to the 2020 Doing Business report, Russia ranked 28th out of 190 world economies in terms of ease of doing business.
- • Most foreign investments are directed to strong sectors such as manufacturing, extractive industry real estate, finance, and insurance.
- • Russia continues to be the largest exporter of gas, oil, and metals in the world.
Those interested in opening manufacturing companies in Russia
are invited to contact
our team of specialists for more information and complete help.