At the end of the summer, the Russian Ministry for Finance has announced the Financial Literacy Strategy 2017-2023 which aims at educating the population. One of the most important aspects of this strategy is the introduction of cryptocurrency which is also supported by the National Bank. Up to this point cryptocurrencies are not allowed for trading in Russia, however their creation through blockchain technology is possible. Our lawyers in Russia can assist investors who want to create fintech companies in this country.
Russia has good economic ties with Asian countries, however the government wants to further increase cooperation with two of the largest countries in the Far East. These two countries are China and India. Foreign investors who want to trading companies in this country should know that Russia already has good relations with China which are expected to improve in the next year. Our lawyers in Russia can assist with the registration of a trading company.
A recent report issued by the Russian Central Bank announces a growth of 1.5 -2% for the economy this year. Based on the scenario of the volatile oil prices, the National Bank’s chief declared that the Russian economy will not be too affected of the prices going down. During the same press conference, the minister for finance said that 2018 could mean the introduction of cryptocurrencies in Russian banks. Our lawyers in Russia can offer information on the current banking legislation applicable in this country.
Russia and India have been discussing for a while the establishment of a joint investment fund which would create new business opportunities for Indian and Russian companies in various economic sectors. Manufacturing is one the targeted industries for investments. The fund would gather 1 billion USD from both countries. Russia and India hope to deepen their economic ties through this investment fund. Our lawyers in Russia can explain the legislation related to investment funds in this country.
One of the largest cities in Russia is about to know even more development as the head of the city’s transport committee has proposed the city to become the management center of all the Arctic regions. This city is Saint Petersburg. If the city becomes a center for the region, new investment and development opportunities for Russian companies are expected to arise. Foreign investors interested in setting up a company in St. Petersburg can rely on our attorneys in Russia for assistance.
Moody’s Investors Service, shortly known as Moody’s, issued its first rating for Russia this year. The new rating is a good one, as the agency changed the government bond rating from negative to stable. Moody’s also confirmed the government bond rating and issuer at Ba1. Fiscal consolidation is the main reason based on which the agency has changed its rating. Our law firm in Russia can offer information on what the rating means for the country’s economy.
Russia and Japan have started to work on a new energy project which will lead to an improvement of the economic relations between the two countries. Russian and Japanese officials have announced their intentions of cooperating on a Russian existing project which will transport 5.4 million tons of gas from Russia to Asian countries on an annual basis. The two states have also signed several agreements for the cooperation on the renewable energy sector. Our lawyers in Russia can offer more information on the legislation allowing foreign investors to open companies here.
The changes in the Commercial Law in Russia in relation to corporate governance and transparency is making large foreign companies to consider it as their next outsource destination, according to the Forum of Corporate Governance held in Moscow at the end of 2016. Russia is very important when it comes to addressing clients in the Far Orient, according to important companies offering outsourcing services throughout the world. If you want to open a company in this country, our Russian lawyers can offer information on the improvements of the Commercial Code.
As a part of the new initiative of the government, small and medium-sized companies owned by foreign investors in Russia will be able to apply for assistance. The new policy targets the development of a technological network across the country and to attract more foreign investors to the country. Our Russian lawyers can assist foreign investors interested in this country.
Russia’s economic growth is already showing its first results as foreign companies are starting to invest here once more. Some of the largest retailers in France and Sweden have already established several plants and stores in Russia, and thus raising foreign investments to billions in just a few months. If you want to open a company, our lawyers in Russia can offer legal assistance related to the registration procedure.
The Russian economy is in full recovery, according to credit rating agencies which have positively revised the country’s status. At first it was Standard and Poor’s which has provided for a 1.9% economic growth for the year of 2016 and now it was Moody’s turn to offer a stable outlook for the following year. Our lawyers in Russia can help foreign investors who want to open companies in this country.
The Far Eastern region of Russia is developing at a fast pace determining the Deputy Prime Minister of the region to be optimistic for the future. During the first half of the year, the industrial output of the region grew by 5% than the entire last year’s production, which is a good news for Russia’s whole economy. Our lawyers in Russia can assist foreign investors who want to open companies in this country.
The main industries also generating the highest revenue to the Russian economy are agriculture and gas and oil. While in agriculture, Russia is one of the greatest wheat producers in the world, in the gas and oil sectors, it comes second after Saudi Arabia, according to a report issued earlier in July. Our lawyers in Russia can assist foreign investors who want to open companies in these industries.
Russia will soon embark upon a new investment project, which will be designed as a transport and logistics corridor that will connect a region of Russia (Siberia) with the Far East and the Arctic area. The project has recently been presented by the Russian Security Council. The representatives of the institution declared that the project will cost around $220-240 billion and that it will involve the construction of a fleet of hybrid aircrafts, which received the name of Atlant. Foreign investors interested in opening a company in the aeronautics industry are advised to receive assistance on this matter from our team of Russian lawyers.
Sanctions have worked for Russia this summer, as the country has become the greatest wheat exporter in the world, and thus reduced the import of foodstuff all together. This has led to the development of the agriculture industry in 2016. Russian commodity export companies have also registered increasing returns during this year’s summer months.
The Russian economy is showing the first signs of recovery after several years in which it did not fare so well. This increase is most welcomed by Finland, one of the countries Russia has important trading relations with. Finland was heavily damaged by the sanctions the EU imposed to Russia during the last months. Our lawyers in Russia can help foreign investors to open companies here.
Russia and Turkey have resumed discussions on improving relations between companies and have also started to negotiate a draft agreement on trade and economic cooperation. The two countries want to create a better environment for Russian and Turkish companies operating in the two countries. The two countries have also signed a double taxation agreement our Russian lawyers can offer information about.
Being one of the world’s largest economies, Russia provides many business opportunities to both local and foreign investors. Recently, the local authorities have stated their interest in reviving an important Russian-Turkish project, which is represented by the construction of the natural gas pipeline, the Turkish Stream. Businessmen interested in setting up a company in this industry can address to our team of Russian lawyers for more details referring to the legal grounds applicable to foreign investors.
At the end of June, the Russian Prime Minister announced the development of new projects similar to the ones implemented in the 2000s. The programs would address both citizens and Russian small and medium-sized companies in the country and will also support the increase of exports. Our Russian lawyers can help foreign investors set up companies here.
Germany remains one of Russia’s most important partners in terms of investment, according to the Russian Prime Minister who recently announced the construction of a new plant here. Russia is also expanding its cooperation with China, as the two countries are working on a joint project through which they want to produce high-speed trains.
The mining industry is one of the most productive in Russia at the moment, and the good news don’t stop there. Russia is expecting its coal production to grow by 4.3% until the end of the year compared to 2015. Our Russian lawyers can offer information about the legislation related to the mining industry.
Russia and the US continue to maintain strong economic relations, according to the Russian Embassy in the United States. Several US companies have announced the increase of production in their branches based in Russia. Moreover, large investors have announced their participation at the Economic Forum held in St. Petersburg. Our Russian lawyers can assist foreign investors opening companies here.
Russia and France have started trading years ago and yet the two countries still consider there is room for improvement. With French companies interested more and more in setting up operations in Russia, the Russian presidency is considering enhancing investment conditions for France and for other EU countries. Our Russian lawyers can provide more information on the foreign direct investment legislation in this country.
One of the most attractive factors for foreign investors in Russia is its workforce. This fact was recently confirmed by the World Economic Forum. In the 2016 survey Russia surpasses countries like China and India known for their cheap and efficient labor forces. Our Russian lawyers can provide you with information about the employment legislation in this country.
Russia has drawn the attention of Singaporean investors after several governmental officials have presented them with various investment opportunities. Transportation is currently one of the industries targeted by Singapore investors, as Russia offers numerous possibilities in this sector. Our lawyers in Russia can offer more information on the legislation related to foreign investments.