In land area, Russia is the largest country in the world, covering an area of 17,125,200 square kilometers (6,612,100 sq mi), or approximately one-eighth of the inhabited land area on earth. By the 18th century, Russia had greatly expanded through conquest, annexation, and exploration to become the Russian Empire, the third-largest empire in history, stretching from Norway on the west to Canada on the east. After WWII, Russia constituted the largest part of the Soviet Union, the world’s first constitutionally socialist state and one of the two great powers during the Cold War.

Most of Russian territory consists of vast stretches of plains that are predominantly steppe to the south, with dense forests to the north, and tundra along the northern coast. It also has an extensive coastline along the Arctic and Pacific Oceans, as well as along the Baltic Sea, Sea of Azov, Black Sea and Caspian Sea. Russia has many rivers and lakes, which contain approximately one-quarter of the world’s liquid fresh water.

Russia is Europe’s most populous country, with the majority being ethnic Russians, who speak the Russian language, followed by Tatar and Ukrainian. Russian is the second-most used language on the Internet after English, one of two official languages aboard the International Space Station and is one of the six official languages of the UN.

2021
May 1Spring and Labor Day
May 3Day off for Spring and Labor Day
May 9Victory Day
May 10Day off for Victory Day
June 12Russia Day
June 14Day off for Russia Day
November 4Unity Day
  • NKO/НКО, (Nekommercheskaya organizatsiya / Некоммерческая организация)
  • GP/ГП, GUP/ГУП (Gosudarstvennoye (unitarnoye) predpriyatiye / Государственное (унитарное) предприятие)
  • IP/ИП (Individualny predprinimatel’ / Индивидуальный предприниматель)
  • OOO/ООО (Obschestvo s ogranichennoy otvetstvennostyu / Общество с ограниченной ответственностью)
  • PAO/ПАО (Publichnoye aktsionernoye obschestvo / Публичное акционерное общество)
  • Kooperativ/кооператив
  • АО/AO (Aktsionernoye obschestvo / Акционерное общество)
  • Hozyaystvennoye partnyorstvo / Хозяйственное партнёрство
  • Corporate Tax: 20%
  • Income Tax (Lowest Marginal Rate): 13%
  • Income Tax (Highest Marginal Rate): 15% (for those earning more than 5 mil. roubles a year), 35% for non-residents
  • VAT/GST/Sales Tax: 20% (standard rate), 10% (books, certain items of food and children goods), 0% (house or flat)
  • Sberbank (Local Bank)
  • VTB (Local Bank)
  • Russian Agricultural Bank (Local Bank)
  • Bank of Moscow (Local Bank)
  • VTB24 (Local Bank)
  • Gazprombank (Local Bank)
  • Alfa Bank (Local Bank)
  • UniCredit Bank (Russia) (Local Bank)
  • Rosbank (Local Bank)
  • Raiffeisen Bank (Russia) (Local Bank)
  • Promsvyazbank (Local Bank)
  • TransCreditBank (Local Bank)
  • Uralsib (Local Bank)
  • Nomos Bank (Local Bank)
  • MDM Bank (Local Bank)
  • Bank Saint Petersburg (Local Bank)
  • AK BARS Bank (Local Bank)
  • Bank Rossiya (Local Bank)
  • Nordea Bank (Russia) (Local Bank)
  • Citibank (Russia) (Local Bank)
  • Credit Bank of Moscow (Local Bank)
  • Vozrozhdenie Bank (Local Bank)
  • Sviaz-Bank (Local Bank)
  • ING Bank (Eurasia) (Local Bank)
  • Bank ZENIT (Local Bank)
  • Bank of Khanty-Mansiysk (Local Bank)
  • Globex Bank (Local Bank)
  • Bank Petrocommerc (Local Bank)
  • National Bank TRUST (Local Bank)
  • Russian Standard Bank (Local Bank)
  • VTB Bank (State Bank)
  • Gazprombank (State Bank)
  • Rosselkhozbank (State Bank)
  • Goldman Sachs (Foreign Bank)
  • Morgan Stanley (Foreign Bank)
  • Bank of America Merrill Lynch (Foreign Bank)
  • JPMorgan (Foreign Bank)
  • Barclay’s (Foreign Bank)
  • Deutsche Bank (Foreign Bank)
  • UBS (Foreign Bank)
  • Raiffeisen Bank  (Foreign Bank)
  • Unicredit Bank (Foreign Bank)
  • Citibank  (Foreign Bank)
  • HBSC (Foreign Bank)
  • Alfa-Bank (Private Bank)
  • Russian Standard (Private Bank)
  • Moscow Credit Bank (Private Bank)
  • Bank St. Petersburg (Private Bank)
  • Binbank (Private Bank)

Aadmi can support you with your expansion to Russia. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

May 13, 2021
South East Asia features some of the fastest growing economies in the world. The presence of varying landscapes and cultures make it one of the most diverse markets for bus...
May 12, 2021
As each week passes, new challenges arise for companies with global operations. Different employment laws, payroll and furlough schemes, and reopening strategies in each co...
May 11, 2021
Today, an understanding of every African market and its unique situation is crucial for entrepreneurial success. In this blog, we will be discussing some of the top African...
May 10, 2021
In December 2020, the Narendra Modi-led government made some significant changes to the Indian Labor Code. Forty of the old central laws were replaced with four major labor...