Open an Aquaculture Business in Russia

Fishing is one of the Russian prolific industries, given the access various sources of water and correlated to the size of the country. Foreign investors have various possibilities if they are interested in the fishing sector in Russia, one of them being aquaculture. Just to make an idea, Russia has lakes, ponds and rivers which can be used for aquaculture. Moreover, the Federal Agency for Fishery acknowledges the following types of activities which can be undertaken in the fish farming industry:

• -          ponds;
• -          recreational;
• -          pasturable;
• -          industrial.

Our lawyers in Russia can offer information on the legislation related to fishing in this country.

What are the most prolific branches of the Russian aquaculture industry?

Local and foreign enterprisers interested in starting a business in the aquaculture sector in Russia can grow various types of fish; however, according to recent reports, the most profitable ones are:

• -          carp cultures;
• -          sturgeon cultures;
• -          trout cultures;
• -          peled cultures;
• -          mussels cultures;
• -          scallop cultures.

Investors who want to set up fish farming business in Russia must register a company with the Trade Register and then apply for the necessary licenses which will enable them to start their operations. Foreign investors who want to open aquaculture businesses in Russia must also respect the provisions of the Environmental Law and other international regulations imposed for carrying out such activities.

Creating a fish farm in Russia

Once the Russian aquaculture company is registered, the owner can sign a concession agreement with the Federal Agency for Fishery in order to grow various types of fish in national waters or can create artificial ponds or lakes where the fish will be grown. Following that, the company must apply for a fish farming license with the same agency.

It should be noted that most fish coming from Russian fish farms is destined for exports, therefore a license will be required. It should be noted that Russia has signed various agreements with countries where aquaculture companies can export their products and special requirements apply in certain countries.

If you want to open a fish farm and need assistance, please feel free to contact our law firm in Russia.