Benefits of starting a business in Abkhazia
Any citizen of the Russian Federation can open a business in the Republic of Abkhazia.
To open an LLC in Abkhazia, a Russian citizen needs to obtain a work permit. A limited liability company is registered not at the place of temporary residence of an individual, but at the location of the legal address of the future company. The minimum authorized capital is 18,000 rubles. The authorized capital can be paid in property.
Reasons for business relocation in Abkhazia
The Republic of Abkhazia has a comfortable investment climate for investors, a low tax burden, as well as comfortable customs tariffs and conditions. Mental proximity of others and the absence of a language barrier. Unique climatic conditions (sea coast + nearby highlands). Registering a company in Abkhazia can be a good decision, as it opens up serious prospects for business.
Advantages of doing business from the territory of Abkhazia
The Republic of Abkhazia is developing a stable partnership with the Russian Federation. Russia is the main trading partner of Abkhazia (over 80% of the Republic’s trade turnover). There is a duty-free trade regime between Abkhazia and Russia, which opens up great opportunities for the huge Russian market. Therefore, the registration of a company in Abkhazia provides an opportunity to actively develop and conduct business not only within the republic, but also with Russia.
Emerging market
It is important to note that Abkhazia itself is an attractive and quite promising market. The resort and tourism industry is developing dynamically in Abkhazia. There is great potential in the construction of new modern resort complexes, hotels and boarding houses that will be able to offer tourists from Russia and the EAEU countries a wide range of all-the-year-round comfort services.
The presence of favorable natural and climatic conditions allows the development of agriculture in Abkhazia. Abkhazia has large reserves of the purest drinking water, healing mineral and thermal springs, as well as a large amount of explored minerals that can become the basis for the development of export-oriented industrial production.
Cooperation between Abkhazia and Russia
Abkhazia and Russia are dynamically developing their allied and strategic partnership. The Russian language, along with the Abkhazian, is recognized as the language of state and other institutions. A visit by Russians to the country does not require a passport or a visa. The currency in Abkhazia is the Russian ruble. In addition, about 140 thousand people have dual citizenship (of the Republic of Abkhazia and the Russian Federation).
Important additional arguments in favor of the decision to register a company in Abkhazia are the following:
- Loyalty to business from Russia on the part of the state authorities of Abkhazia.
- Attractive taxation system. For example, corporate income tax 18%, value added tax (VAT) 10%, property tax 0.2%, personal income tax (income tax) 10%.
- Simplified business registration procedure.
- The possibility of opening a company in the SEZ (free economic zone).
- The Government of the Russian Federation and the Government of the Republic of Abkhazia signed an Agreement on the Promotion and Mutual Protection of Investments.
Conclusion
Creating a new business in Abkhazia is one of the effective ways to develop your business in the new economic realities that have arisen due to the difficult international situation in the world. This decision opens up good prospects for the development of their business in Abkhazia with a focus on business cooperation with Russia.
In order to register a company in Abkhazia quickly and without problems, and competently, Ryazantsev Consulting LLC is ready to provide you with professional advice and comprehensive support for opening a company in Abkhazia.