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Transferring business from Russia to Armenia, Kazakhstan, Georgia 2022

The best countries for transferring business from Russia: Armenia, Kazakhstan, Georgia

11. 03. 2022
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If you are looking for the best countries to move your business out of Russia, we recommend considering Armenia, Georgia, and Kazakhstan. They are not far from Russia, Russian is spoken there, and they allow you to save on taxes, along with several other.

Armenia

Armenia is interesting for business in many ways - first of all, free economic zones (Alliance, Meridan, Magri, and Ekos). Companies registered in free economic zones are exempt from many taxes and customs duties, and they can optimize their administrative and operating costs as much as possible.

Other advantages of moving a business from Russia to Armenia:

  • Reliability - Armenians value this word;
  • Developing economy;
  • The authorized capital can be fully owned by foreigners;
  • FEZ have on their territory all the necessary infrastructure for successful business;
  • It is enough to have €1 authorized capital to start a company;
  • Only 1 shareholder is enough to register a business;
  • High confidentiality for company owners;
  • No job creation requirements;
  • The ability to open a corporate bank account;
  • Low cost of labor, high education of employees.

Companies in Armenia are registered quickly. You can give your home address on the territory of the country as a legal office. Documents must be translated into Armenian and notarized. For Russian citizens an apostille is not required. After the company registration it is easy to get a license, if necessary.

Kazakhstan

An interesting option is the transfer of a business from Russia to Kazakhstan. The country is in the center of Eurasia, so routes that connect Asia and the Pacific region with the Middle East and Europe pass through it. The country shares a border with Russia and China; India is also in close proximity. Kazakhstan is part of the Customs Union, so you can work directly with Armenia, Kyrgyzstan, and Belarus.

Kazakhstan opens up great opportunities to companies that work in the oil and gas sector and the extractive industry. Plans include investments in the energy, communications, transport, and agriculture sectors.

Another plus is the ease of opening a company in Kazakhstan. The country is in 21st place out of 189 countries. An entrepreneur can easily register both a new company and a branch here.

Georgia

A great option is transferring a business from the Russian Federation to Georgia. The country actively cooperates with the EU, has a visa-free regime with it, and plans to become a member. Moreover, Georgia is on the border of Europe and Asia, and it boasts steady economic growth.

Setting up a company in Georgia is a quick and easy process. There are no capital requirements, bank accounts are easy to open, and accounting can be done online. The country cares about confidentiality and does not exchange tax data under the CRS standard.

Tax rates for businesses in Georgia are quite low. There are no payroll, wealth, or insurance taxes. Corporate tax is 15%, value-added tax is 18%, and personal income tax is 20%. Businesses that register as a "special trading company" can sell and re-export foreign goods. They are also exempt from income tax on the sale and re-export of foreign goods.

Of particular interest are free industrial zones, where the following is absent:

  • corporate tax;
  • income tax;
  • property tax.

All companies whose work is aimed at exports can apply for a license, which allows the import of raw materials for the production of goods without customs duties and VAT. Another tax plus is that the country has signed more than 50 agreements on avoidance of double taxation.

Where to move your business from Russia

If you are looking for a convenient country for your business, contact IT OFFSHORE specialists and we will help you.

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