Russia and Germany have had a very good trading relation since the beginning of 2018, as numbers show the trading volume between companies in both countries has reached 39 billion US dollars between January and August. The two countries have had a good economic cooperation in terms of import and export activities, as Russia expects a GDP growth of 1.8% in 2018 thanks to the larger number of exports. Foreign investors who want to open companies here can rely on our Russian lawyers for support.

The extraction and production of oil and gas remain one of the most important industries in the Russian economy in the year to come, as the Organization of Petroleum Exporting Countries – OPEC – announced companies here will increase crude oil production in 2019. Foreign investors can also open companies in the oil industry provided that they respect the legislation in this sector. Our Russian lawyers can explain the requirements related to opening such company.

Agriculture is one of the main supporters of the Russian economy and local companies have plenty of opportunities when it comes to the types of goods they can produce and the areas they can cultivate. In order to encourage innovation in agriculture, the government has enabled various schemes under which agricultural companies can use the Arctic regions to build greenhouses and grow vegetables in them. Our lawyers in Russia can offer detailed information on the legislation related to agricultural activities in this country.

Good news for the Russian economy, even if it is not going through one of its best periods: Standard and Poor’s Global (S&P), one of the largest credit rating agencies in the world, issued the short-term and long-term sovereign credit rating, which is BBB. The agency also announced that even if Russia is sanctioned by Western countries, these sanctions will not affect its fiscal health and balance of payments. If you plan on starting a business in this country, our Russian lawyers can explain the regulations.

The energy industry remains one of the most powerful economic sectors in Russia. Having one of the largest oil reserves in the world, enables the country to take advantage of this important resource and companies to invest in refineries in order to increase their export capabilities. This year, Russian oil companies plan to increase these capabilities to more than 281 million tons. Foreign investors who want to set up companies in the oil industry must comply with special requirements which can be explained by our Russian lawyers.

Russia relies on two of the most important industries for the global economy: natural gas and oil and agriculture. In the following years, these two industries are expected to bring significant incomes to the Russian economy, and also to propel the country on the highest places in terms of oil and grain production in the world. Our lawyers in Russia can help foreign investors who want to open companies in these two industries.

Russia has always been one of the most important economies in the world thanks to its natural gas reserves, however its economy has passed through a rough period until last year. According to the International Monetary Fund (IMF), in 2017 Russia has regained its position among the most competitive economies in the world thanks to its contribution to the global Gross Domestic Product (GDP) acceleration. Our law firm in Russia can help foreign enterprisers interested in investing here.

One of the novelties of last year is the subcommittee on digital economy in Russia. The role of this subcommittee is to be the link between large technology companies and startups which form the digital economy of the country. The end of 2017 also brought an action plan drafted by this agency through which an interface for a better communication and cooperation between small and large companies will be created. If you are interested in starting a business in any technological field, our Russian lawyers can offer information on the legislation in this industry.

As more and more countries are entering free trade agreements which encompass large regions all over the world, Russia is also considering creating a free trade area in Asia and the Pacific region which will help the economies of the states in these parts of the world. Considering APEC countries have contributed significantly to Russia’s foreign trade during the last few years, a free trade area would have a greater positive impact on the economies entering this zone. If you want to open a company here and need assistance, our law firm in Russia can guide you.

A recent report issued by the Russian Academy of Sciences shows the good state of the Russian economy which is expected to increase even more in the next years. Moreover, the economic output of the country is expected to double by 2020. Our lawyers in Russia can assist foreign investors interested in doing business here.

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.