11 thousand branches of Russian businesses have been opened abroad

Mar, 06 2024

By opening a foreign company or representative office, entrepreneurs can significantly save on logistics and taxes. They also provide the opportunity to obtain residence permits and access to foreign financial systems and banking procedures that are currently unavailable in Russia. Since 2022, Russian companies have opened more than 11 thousand branches, including countries such as Serbia, the UAE, Armenia and Kyrgyzstan.

Over the past two years, the number of representative offices of Russian business in Serbia has amounted to more than 9 thousand, in the UAE – more than 1.5 thousand, in Armenia – more than 800, and in Kyrgyzstan – more than 400.

In the UAE, businessmen can arrange supplies, provide services in the field of cosmetology and develop the hotel and restaurant segment. Kyrgyzstan and Armenia are members of the EAEU, which simplifies customs procedures and the process of registering new companies. Kyrgyzstan also assumes faster access to textile goods.

In Serbia, Russian companies are opening kindergartens, coworking spaces and providing legal and business consulting services. There is a program “Residence permit for starting a business”, thanks to which 600 new offices were opened in 2023.

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11 thousand branches of Russian businesses have been opened abroad
Valentina Khlavich
Managing Partner
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