Russia: one of the best performing sales markets in the world

Continually growing as an attractive investment destination

Why Russia?

Russia represents the sixth largest economy in the world with a consumer market of over 140 million people. For the past 15 to 20 years Russian business has outperformed most other global markets and been on par with China as the best performing organic sales market in the world.

Despite the recent dramatic changes in its economic and political situation, Russia remains the third most attractive country for foreign investment after the US and China and the number one priority market in Central and Eastern Europe and the wider European market.

Whether you are planning to set up a business in Russia or already operating, we can help your business to grow and succeed.

Our core areas of expertise

TMF Group Russia has a strong international management team of around 200 specialists in accounting, law, tax, payroll and HR, serving clients locally and internationally. We provide a full range of corporate services to help you to reduce risks, be compliant, better control your costs and simplify your operations.

In Russia, the TMF Group is a pioneering player in structured financial services, having been the first to enter the market in 2006. We now have a team of 35 lawyers and accountants based in Russia and our operations are backed up by a solid IT infrastructure.

We provide the full scope of administrative and accounting services for domestic securitisation deals with different types of assets, as well as offering tailored support for trans border transactions.
With our strong presence in Russia, two new offices were opened in the first quarter of 2015 in Voronezh and Kirov. This expansion in our geographic footprint enables TMF Group to support client business and projects in Moscow, St. Petersburg and the regions.

Many of our team of chartered accountants hold the ACCA or other professional qualification. They have experience in serving clients from a variety of industries including pharmaceuticals, fashion, automotive, technology, e-commerce, telecommunications and food.

Our team of professionals have a strong knowledge of the local market and will use their expertise to work with you in all areas of your business. 

Our full range of services include:

  • Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
  • Consultancy solutions: A flexible service allowing companies to deal with complexities created by expansion into new countries or growth in existing overseas locations.
  • Corporate Secretarial services: We can take care of recurring compliance filings, manage routine corporate changes and retrieve any official corporate documents from official registries.
  • HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.
  • Structures Finance services: We help to make sure the establishment, operation, and management of your structured finance vehicles (such as SPVs, CLOs) run smoothly.

Local services:

In addition to our global portfolio of services* our Russian offices provide additional support for specific local requirements. This includes:

Deoffshorisation in Russia

In early 2015, Russia’s new Deoffshorisation Law came into force via amendments to the Russian Tax Code. This law ensures that both individuals and companies classified as Russian tax residents,file the Foreign Ownership Notification form.

Entities affected are: Controlled Foreign Companies (CFC), Beneficial ownership, Tax residency, Real estate rich, Russian CFC compliance for corporate and private clients.

TMF Group in Russia can help you with: 

  • filing of foreign ownership and CFC notifications and tax returns together with financial statements of CFCs
  • CFC accounting services, corporate administration and corporate real estate administration services
  • corporate secretarial services including local corporate compliance services, health checks,  registered address, registration of legal entities and reorganisation, liquidation/winding up services and management company services.

Specific projects:

  • internal review of accounting, payroll and HR documentation
  • health and safety services: ensure safe labour conditions and labour protection at each working place
  • personal income tax declaration for residents and non-residents
  • support with physical inventories
  • we can also assist you with the preparation of information packages on controlled transactions to tax regulatory bodies and reporting on related parties according to the transfer pricing regulations.

Recent awards:

  • TMF Group Russia is the 3rd largest Financial Consulting Company in Russia, according to RAexpert

If you’d like to find out more about how we can work with you to ensure business success, please contact us.

*Availability of our global portfolio is country dependent. Make an enquiry if you'd like to find out more about our specialised, professional expertise.

To find out exactly how we can help you, speak to our experts

We deliver tailored solutions to each precise location that allow you to operate smoothly from day one.

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