10 Reasons to start your business in Russia

1. The Russian economy continuously grows from the 1998 crisis. GDP in 2007 grew by an estimated 7.1%. The forecast for 2008 is more than 7.5% growth.
2. The overall balance of trade continues to register healthy surpluses, as does the federal budget. In 2004, Russia's total exports were $182 billion and imports were $94.8 billion.
3. The country's financial situation continues to improve, with a decline in sovereign debt levels and an increase in its sovereign credit ratings to investment grade done by all three major agencies S&P - ВВВ -, Moody's - Ваа 3, Fitch - ВВВ -
4. The refunding rate set by Central bank constantly decreases (13% currently).
5. Russia's gold and foreign currency reserves are constantly increasing and has reached $540 306 000 000 (20.05.2008).
6. According to the forecasts the middle class will constitute 50-55% of the population in 2010.
7. Annual growth of consumption rate is 1,7-1,8%
8. There is a high probability that Russia will join WTO in January 2009.
9. Relatively favorable tax regime. General tax rates:

- Corporate income tax - 24%
- Unified social tax - 26-2% (regressive scale)
- Personal income tax - 13%
- VAT - 18%

1. Leading European companies, especially those from Germany, Scandinavia and Turkey, are well established in both consumer and industrial markets. Many well-known U.S. consumer brands are also successful and many Asian companies from Japan, South Korea and China are also doing well.

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