Things to remember while doing business in Russia

A successful strategy for doing business in Russia does not just focus on satisfying an emerging trend in the market but includes the knacks of dealing with people and “getting things done”. The stability of the Russian Government, increased accessibility to the remote land and a stronger currency are factors that attract investors to Russia.

If you choose to venture into the business world of Russia, here are a few things you must remember before you take the first step.

Building a Network

Doing business in Russia is primarily about establishing good connections up the chain. The right contacts eliminate potential barriers and can guide you through to the right people. A formal relationship combined with an informal rapport among key decision makers in the business environment is essential for your success.

Legal firms can help

Russian legal services are a good place to start. They can help you in with dealing the new business setting and make you feel more accustomed to the practices in the business world. They assist foreign investors in Russian company registration to also obtaining all required licenses.

Dealing with corruption

Russian authorities take up corruption charges from foreign companies seriously. Foreign companies must be prompt about reporting any corruption issues in and outside their organization. This can be done by building a strong internal network that can co-ordinate with local authorities with ease. An adept management of human resources is essential to achieve the same.

The proliferation of the “third party”

The dynamic legal scenario pertaining to doing business has paved way for the interference of middlemen into several business transactions. This leads to higher costs and less effectiveness of doing business. A reliable Russian legal service is often the best choice to deal with changes in business laws.

The Russian business etiquette

Punctuality and good presentation are appreciated in the business culture of Russia. While most Russians are well versed in English, important documents, business cards and communication documents are expected to be translated to the Russian language also. Be extremely patient with your business counterparts and do not use rude language under any circumstances. Prior knowledge about the country of Russia and the Russian language are added advantages.

There have always been a lot of pre-determined notions about doing business in Russia. With the advancements in technology and logistics, business investors with the right approach can easily take advantage of the growing economy of Russia.

Harness the Power of Partnerships in Russia to Exponentially Grow your Business

Partnerships are a great way to build your business, especially in a foreign land. In a country like Russia, it takes a lot of courage and hard work to make your business successful and sometimes, it can get difficult for a new entrant for setting up a business in Russia and find the right means for company registration Russia. One of the best ways to combat this challenge is to use the power of partnerships to your advantage so that you can excel in your business and have the support you need, in terms of manpower, finances and intellect as well.

Here are few tips to consider while cultivating successful business partnerships:

• Build a strong network before the need arises – You don’t know when you might need a partner in business or need assistance to grow your business in another country. At the last minute, it might get difficult to find the right partner. Therefore, you must open yourself to new people, meet new and interesting professionals so that you can always tap a new opportunity.

• Partnerships take time–It takes a lot of time and effort to cultivate and nurture the right partnerships. Sometimes, you need to be patient and wait for some time before you can set off on the right foot with your partner.

• Partnerships can happen in the most unlikely places with different people – You never know with whom you can make the right partnerships for business. Open your mind and creatively look for answers. Sometimes, a partner can also be a strong competitor. If you are looking for company registration Russia and go out to hire Russia law firm, you might meet someone looking to join in your company and it might click instantly. Keep your options open, always!

• Don’t choose a similar partner – Pick a partner that adds value to your business and brings a different set of skills to the table. If you find someone just like you in terms of expertise, you might not get a different opinion and it may hamper the growth of your business.

• Be aligned in terms of goals – If you are entering a long term partnership, ensure that you and your partner are well-aligned in terms of goals and objectives to avoid clashes in the future.

Once you find a suitable partner, you can always hire Russia law firm to help you seal the deal in legal matters. All you need to do is make the right choice!

Obtaining a Work Permit Visa in Russia in 2015

Russia is the second most popular destination for seeking work opportunities after the United States. When you are in a city like Moscow you cannot help but notice the high population of immigrants who have shifted to the country for work purposes.Moscow lawyers are quoted rendering maximum towards immigration advisory services.

In 2015, some both major amendments to the work visa system are expected to bring a paradigm shift in the immigration trends for Russia.

Listed below are the judicial alterations that you must look out for in 2015.

1) New work patent system for CIS Nationals

CIS nationals are no longer required to apply for the standard work permit. Instead a new system of work patent will be issued by the different regions in Russia and further decisions of this work patent lies in the hands of Regional Governor. Lawyers in Russia will be hired as third parties to process applications for work patents. It is recommended to adhere to the same region for all services that is if you wish to apply for a work patent in Moscow, seek the services of Moscow Lawyer.

2) Knowledge of Russian language and judicial basics is mandatory

With an exception of HQS visas all migrants to Russia applying for a work visa must pass a Russian Language exam. The exam is to verify the working competency of the individual with the Russian language. In addition to this, individuals must also submit relevant documents that prove their knowledge about the Russian history and the judicial laws pertaining to their region of work.

3) Changes in notification requirements for work visas

The Russian government has altered the reporting system followed by employers thus far. . Employers are not required to report to the Tax Authority regarding the hiring of a foreign employee nor do they have to report to the Federal Migration Service regarding unpaid leave records. However employers must update the Federal Migration Service within three business days about all new and terminated labour agreements.

4) Foreign firms can now issue Highly Qualified Specialist (HQS) visas

Till 2014, only Russian companies were permitted to hire foreign professionals under the HQS program. Going forward foreign companies with branch offices in Russia also have the right to apply for work permit in Russia for highly skilled professionals from any background through the HQS program.

With such major changes in the immigration system of Russia, people wanting to apply for work permits are recommended to take professional advice from lawyers in Russia before they proceed.