Russia has a great potential when it comes to the tourism industry. With large cities where some of the largest museums in the world are located and small towns and villages as testimonies of the old Russian traditions, creating a business in the tourism sector can be a good opportunity for local and foreign investors.
One of the types of companies which can be set up in tourism is a HORECA business, which is the abbreviation for hotels, restaurants and cafes. Russia also has a Federation of Restauranteurs and Hoteliers to which these companies can adhere.
Our lawyers in Russia can offer information on the legislation related to the HORECA industry.
At the moment, there are many hotels in Russia which cater to the needs of foreign clients, however most of these accommodation establishments are located in large Russian cities and aim at attracting businessmen, which leaves the tourism sector open for investments.
Those who want to open a company in the HORECA industry in Russia should know that the average accommodation and dining rates are quite low compared to European jurisdictions, which why this sector has a great development potential. Foreign investors can set up hotels or restaurants, or can open hotels which also include dining areas.
Our law firm in Russia can assist with the registration procedure of a HORECA business.
Foreign investors who want to start a HORECA business in Russia must first register one of the available types of structures provided by the Commercial Code. The share capital requirements must be taken into consideration when opening a company in Russia.
Following that, the HORECA business must take into account the licenses required to start operating. Among these, the company will need licenses for serving food, respecting certain food hygiene regulations, they must obtain fire safety certificates, and, in the case of hotels, these must undergo classification. Specialized personnel is also required when creating a HORECA business in Russia.
If you want to start a HORECA business in Russia, you can rely on our local law firm, so do not hesitate to contact us for assistance.
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