10 Reasons to start your business in Russia

1. The Russian economy has been enjoying a period of sustained growth since the 1998 crisis. GDP in 2006 grew by an estimated 6.8%. The forecast for 2007 is of more than 6% growth.
   
   
2. The overall balance of trade continues to register healthy surpluses, as does the federal budget. In 2006, Russia's total exports were $304 billion and imports were $162, 4 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 achieved by all three major agencies S&P - BBB-, Moody's - Baa3, Fitch - BBB-
   
   
4. The refunding rate set by The Central bank is decreasing steadily (13% currently).
   
   
5. Russia's gold and foreign currency reserves are increasing steadily and reached $278, 9 billion as of November, 17th, 2006
   
   
6. According to economic forecasts, the middle class will constitute 50-55% of the population by 2010.
   
   
7. Annual growth of consumption rate is 1.7-1.8%
   
   
8. It is highly likely that Russia will join the WTO in 2007.
   
   
9. A favorable tax regime. General tax rates: Corporate income tax - 24%- Unified social tax - 26-2% (regressive scale) - Personal income tax - 13%- VAT - 18%
   
   
10. 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 performing well here.