The number of enterprisers oriented towards setting up online businesses is continuously increasing in Russia. For example, e-commerce in Russia rose by 20% in 2016 compared to the previous year. Also, by the end of this year, e-commerce is expected to have a revenue of 1 trillion rubles, the equivalent of 16 billion euros, compared to the 14 billion euros earned by online retailers last year.
Those who want to set up an e-commerce business in Russia must comply with certain laws which provide for both the registration of a company, but also to the internet legislation. Our Russian lawyers can offer information on the laws related to creating an online store.
The Commercial Code is the most important law providing for the opening of a company in Russia, including an online business. Foreign enterprisers are also allowed to set up e-commerce companies in this country and sell goods and services online.
The first step related to opening an online business in Russia is to register a company with the Companies Registrar, followed by the registration of a domain name and the creation of a website. This way the e-commerce platform will be created. Also, having a merchant bank account which allows for safe transactions is mandatory when starting an online company in Russia.
Our law firm in Russia can assist with the registration of the structure used for the e-commerce company.
Electronics are among the most popular goods purchased by Russian citizens from online stores. However, those interested in offering other products will find various niches for their e-commerce businesses in Russia. Among these, online stores selling traditional clothes or handmade jewels and homemade cosmetics are less popular.
No matter the type of e-commerce platform one wants to set up, it is important to respect the legislation related to the retail licenses, but also the data protection regulations imposed in Russia.
If you want to open an e-commerce business in this country and need assistance, please feel free to contact our Russian law firm. We can also guide you through the legal requirements online stores must comply with in this country.
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