Moscow is the capital city of Russia. Regarded as one of the most populous cities of Russia, this global city has played a central role in the development of Russia and the world. Although the concept of Moscow as a global city is often instrumentalized in municipal politics, the ability of the Russian capital to act as a global center is in fact limited. It is the financial and political centre of Russia and is among the three federal cities of Russia along with St. Petersburg and Sevastopol. The city is widely known for its architecture, particularly its historic buildings. With over 40% of its territory covered by greenery, it is one of the greenest capitals and major cities in Europe and the world, having the largest forest in an urban area within its borders more than any other major city – even before its expansion in 2012.
Moscow has been appealing foreign investors due to its advantageous legislations and taxation system. Having access to a large amount of resources, Moscow in recent years has garnered huge potential economically which has led to a significant increase in foreign investment. The primary industries in Moscow include the chemical, food, textile, furniture, energy production, software development, and machinery industries. Moscow is increasingly striving to integrate itself into transnational and international economic structures. At present, Moscow’s most important function, from a Central European perspective, is to act as a bridging link between Central and Western Europe and Russia.
Benefits of Setting Up a Company in Moscow
Starting a company in Moscow has the following benefits:
Moscow has initiated new investment programs and is encouraging foreign investment, which could prove beneficial for businesses looking to find funds and continue the expansion process
Development in transport links and infrastructure has greatly improved the logistical efficiency of doing business in Moscow
Foreign investors looking for international expansion must set their eyes on Moscow as it could open up opportunities to export to the countries in the Commonwealth of Independent States (CIS)
Moscow has a diverse range of business opportunities due to its rapidly growing middle-class population
Doing Business in Moscow
Starting your own company in Moscow, the capital city of Russia, requires a lot of patience and understanding of its unique culture. Life in Russia is often said to be unstable and short, but consequently, people tend to live more profoundly. This unique lifestyle is observable in people settling in Russia or making a fresh start there. There has also been a noticeable gap between rich and poor people in Moscow. More than one survey in recent years has put Moscow as one of the most expensive cities in the world, ahead of such cash-guzzling capitals like London, Tokyo, and New York. Prices of hotels, eating out, drinking out and real estate are certainly sky-high and reflect the city’s new role as one of the world’s most pivotal business hubs.
The economic situation of Moscow has been receiving an upward graph in the recent years. With Russia being one amongst the BRIC countries other than Brazil, India, and China, it is said that these countries are rapidly increasing in power and are expected to catch up with the richest countries around the year 2050.
If you are looking to set up a business in a foreign country, Moscow is an ideal place to go about it. Luckily, the procedure for setting up a business in Moscow has been actively simplified by the government. Today, the process usually takes just 3 days, and is not significantly different for a foreigner compared to a Russian citizen. And looking at the development of Russia in various sectors, a business setup in Moscow is poised to be benefitted in the long run.
Business Setup Worldwide is a platform that help you set up a business in Moscow. We help entrepreneurs and firms in business incorporation, business registration, accounting and bookkeeping, company secretarial services, and taxation services. Our advisors in Moscow have years of experience in this field and can help you make this process hassle-free. Contact us for more information.