The dailyReport Must-reads from across Asia - directly to your inbox In just three years India has jumped a massive 42 ranks higher, into the top countries out of the ranked by the World Bank. Modi has publicly stated that he would like to see India break into the top 50 countries in the rankings by
They can only carry out activities aimed at generating profit, such as market research. They can use rouble and foreign currency bank accounts and transfer funds without restrictions. A branch of a foreign legal entity is accredited for 1, 2, 3 or 5 years.
They can carry out all the functions of the company in the Russian Federation. UK companies can choose to establish a presence in Russia through a Russian subsidiary. The most common business structures in Russia are: Legal considerations The Federal law on foreign investment: The main advantages include: The tax authorities monitor prices to ensure that they are established for commercial purposes and not for the reduction of the tax burden.
There may be significant divergences and contradiction in legal practice adopted by authorities and commercial courts. There are a number of other government bodies with responsibility for foreign trade regulation. Certain types of business activity can only be carried out in Russia with a special licence issued by authorised licensing bodies.
Licensing is carried out on a federal and regional level. You must seek the necessary approvals from the relevant body. Sample testing is necessary to obtain this certificate.
Packaging and labelling requirements for Russia vary significantly for food and non-food items. You must check the requirements prior to shipment. Patent protection is given for 20 years from the date of the application, subject to payment of annuities.
Patent protection for medicine, pesticide or agrochemical products may be extended for up to 5 years with special permission. Tax and customs considerations The UK and Russia have signed a double taxation convention. Legislation on taxes and charges is based upon the Tax Code.
The Federal Tax Service has responsibility for tax administration. You should hire qualified finance specialists to ensure you comply with the rules. You need to keep accounts meeting: International Accounting Standards IAS if required Russian accounting standards, which are moving towards the IAS but still adopt a more formal approach tax accounting requirements, as the Tax Code requires taxpayers to maintain separate accounts for tax purposes 8.
You are considered a Russian tax resident if you live in Russia for over half a year in 12 consecutive months. Non-residents are also subject to personal income taxation on Russia generated income. Customs duty can be calculated and paid in: Certain goods are exempt from import customs duties.
The import of certain goods require a licence. You can find more about import tariffs in the Market Access Database. Entry requirements All visitors must have a valid passport and visa. Russia has a strict visa regime. Read the Living in Russia guide before you go to work in Russia.
Contacts Contents Is this page useful?data are not included in this year’s ranking on the ease of doing business. Data in Doing Business are current as of June 1, This is the 10th edition of the Doing Business report.
First published in with 5 indicator sets measuring business regulation in economies, the report has grown Doing Business holds new. May 6, Print this page.
China wants to eliminate the ranking of countries in the Doing Business report. Doing Business Smarter Regulations for Small and Medium-sized Enterprises Doing Getting Business rank Starting a Business Dealing with construction permits Getting electricity China 3.
New Zealand 4. United States 5. Denmark 6. Norway 7. United Kingdom 8. Korea, Rep. 9. Uzbekistan significantly improved its position in new ranking of Doing Business of the World Bank and International Financial Corporation, moving from th place in to th place in On January 12th a surprising article in the Wall Street Journal alleged that one of the bank’s signature reports—on the ease of doing business around the world—may have been tainted by the.
Doing Business Report.