{"id":6062,"date":"2019-01-22T09:11:03","date_gmt":"2019-01-22T09:11:03","guid":{"rendered":"http:\/\/localhost\/test_manager\/doing-business-in-russian-market\/"},"modified":"2019-07-09T06:42:59","modified_gmt":"2019-07-09T06:42:59","slug":"doing-business-in-russian-market","status":"publish","type":"post","link":"https:\/\/managersoffice.net\/el\/doing-business-in-russian-market\/","title":{"rendered":"Doing Business in Russian Market"},"content":{"rendered":"<p><strong style=\"font-size: small; color: #000033;\">ECONOMY<\/strong><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\">GENERAL INFORMATION<\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\">The Russian economy enjoyed stable growth until 2008 when, like other world economies, it faced the turmoil of the global downturn and the economy has not fully recovered from the consequences of this yet. Services, construction, the hotel and catering industry and manufacturing activities experienced the most significant slowdowns. Wholesale trade, the financial sector, real estate transactions, as well as the electric power, gas and water production and distribution industries, also faced challenges.<br \/>\nHowever, since the second half of 2009, the Russian economy has begun recovering. Gross domestic product (GDP) grew by 4% in 2010, by 4.4% in 2011, by 3.4% in 2012 and by 1.3% in 2013.<\/p>\n<p><\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\"><strong>FINANCIAL SYSTEM<\/strong><\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\">THE CENTRAL BANK OF THE RUSSIAN FEDERATION (BANK OF RUSSIA)<\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\">The key function of the Bank of Russia is to provide for a stable national currency. It has an exclusive right to issue and redeem cash and make decisions on issuing new bank notes and coins. The central bank develops and implements the unified monetary policy and executes currency regulation and control. As a lender of last resort for credit organisations, the bank:<\/span><\/span><\/p>\n<ul>\n<li><span style=\"color: #000033;\"><span style=\"font-size: small;\">Organises a system of refinancing<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"color: #000033;\"><span style=\"font-size: small;\">Establishes rules for banking transactions performance, as well as accounting andreporting regulations for the Russian Federation banking system<\/span><\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"color: #000033;\"><span style=\"font-size: small;\">Registers credit organisations and licenses them to perform banking transactions, as wellas supervising the activity of credit organisations and bank groups<\/span><\/span><\/li>\n<li><span style=\"color: #000033;\"><span style=\"font-size: small;\">Performs a number of other functions in accordance with federal laws.\n<p><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\"><strong>REGISTRATION WITH TAX AUTHORITIES<\/strong><\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\">Each and every legal entity (including foreign ones) shall be registered with tax authorities of the Russian Federation at the place of location of an executive body, and for each separate subdivision, immovable property or transport vehicles owned. Requirement for this registration occurs within 30 days from the date of activity start (creation of permanent employment for personnel).<\/span><\/span><\/p>\n<p><span style=\"color: #000033;\"><span style=\"font-size: small;\"><strong>Manager\u2019s Office<br \/>\n<\/strong><\/span><\/span><span style=\"color: #000033;\"><span style=\"font-size: small;\"><strong>Financial Dept<\/strong><\/span><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>The Russian economy enjoyed stable growth until 2008 when, like other world economies, it faced the turmoil of the global&hellip;<\/p>","protected":false},"author":1,"featured_media":7600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[153],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Doing Business in Russian Market - Manager&#039;s Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/managersoffice.net\/el\/doing-business-in-russian-market\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Doing Business in Russian Market - 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