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The Russian Federation

The ISO code of The Russian Federation is RU according to ISO 3166 standard. The local name of the country is Rossiya. Moscow is the capital city of The Russian Federation. The official language of The Russian Federation is Russan. On 8 October 1480, The Russian Federation emerged as a sovereign political entity. The largest city in The Russian Federation is Moscow.

The Russian Federation has 11 different time zones. They are UTC +02:00 (USZ1 - Kaliningrad Time), UTC +03:00 (MSK - Moscow Time), UTC +04:00 (SAMT - Samara Time), UTC +05:00 (YEKT - Yekaterinburg Time), UTC +06:00 (OMST - Omsk Time), UTC +07:00 (KRAT - Krasnoyarsk Time), UTC +08:00 (IRKST - Irkutsk Time), UTC +09:00 (YAKST - Yakutsk Time), UTC +10:00 (VLAT - Valdivostok Time), UTC +11:00 (SRETT - Srednekolymsk Time), UTC +12:00 (PETT - Kamchatka Time). The internet country code top-level domain (ccTLD) for The Russian Federation is .ru. Other domains assigned to The Russian Federation are .рф, .moscow, .москва. The International dialing code for The Russian Federation is +7. People in The Russian Federation drive on the right side of the road. Total land area of The Russian Federation is 17 098 242 km2. The Russian Federation is not a landlocked country.

The Russian Federation is located in the part of Europe. The Russian Federation is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently The Russian Federation faces various issues including air pollution from heavy industry, emissions of coal-fired electric plants, and transportation in major cities, industrial, municipal, and agricultural pollution of inland waterways and seacoasts, deforestation, soil erosion, soil contamination from improper application of agricultural chemicals, scattered areas of sometimes intense radioactive contamination, groundwater contamination from toxic waste, urban solid waste management, abandoned stocks of obsolete pesticides.

Doing business in The Russian Federation

We offer various corporate services in The Russian Federation jurisdiction. These services can serve both, people coming from The Russian Federation and foreigners. If you plan on doing business in The Russian Federation you might be interested in contacting us.

To find out about starting your business in The Russian Federation click on company formation in The Russian Federation.

To find out how to open a bank account in The Russian Federation and moreover what type of account Confidus Solutions suggests to create, please click on bank account in The Russian Federation.

Choose preferred service below or continue reading to find out more about The Russian Federation.

Company formation Bank account (Corporate) Available banks Bank account (Private)

Demographics of The Russian Federation

The total population of The Russian Federation is 146 427 280 people. In The Russian Federation, the population density is 8.42 people per square kilometer (22 per square mile). Because of this statistic, this country is considered to be very sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for The Russian Federation is 0.2452. The Russian Federation has 11 048 064 million foreign immigrants. The median age is approximately 38.9 years. In The Russian Federation, 53.27 in every 100 people use internet. The Russian Federation has a Human Development Index (HDI) of 0.778.

The main religion of The Russian Federation is Christianity. The Russian Federation is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of The Russian Federation.

Culture of The Russian Federation

People in The Russian Federation speak Russan language. According to data on inbound tourists in The Russian Federation, 30 792 000 tourists arrive in the country each year. The first McDonalds in The Russian Federation was opened on 31 January 1990 One of the most popular national dishes of The Russian Federation is pelmeni. To read more click on culture of The Russian Federation.

Geography of The Russian Federation

The Russian Federation is considered a vast nation because of its total area. Its total land area is 17 098 242 km2 (approx. 6,601,668 mi2). The Russian Federation is located in the part of Europe. Its capital city is Moscow. The Russian Federation has 14 neighbouring countries. Its neighbours include Azerbaijan, Belarus, People's Republic of China, Estonia, Finland, Georgia, Kazakhstan, North Korea, Latvia, Lithuania, Mongolia, Norway, Poland, Ukraine. Total length of land borders of The Russian Federation is 20 017 kilometers (~12,438 miles).

The highest point of The Russian Federation is Mount Elbrus with its official height being 5642 m (18,511 ft). Including land mass and EEZ, the total area of The Russian Federation is approximately 24 664 915 km2 (~9,523,177 mi2). The most notable natural resources found in The Russian Federation are oil, natural gas, coal, strategic minerals, rare earth elements, timber. To read more click on geography of The Russian Federation.

Economy of The Russian Federation

The currency of the country is Russian ruble. The symbol used for this currency is rub., and it is abbreviated as RUB. 6% of population in the country are unemployed. The total number of unemployed people in The Russian Federation is 8 053 500. Each year, The Russian Federation exports around $515 billion and imports roughly $341 billion. The Gini Index of the country is 42. The Russian Federation has a Human Development Index (HDI) of 0.778. The Global Peace Index (GPI) for The Russian Federation is 2.954. The Russian Federation has a government debt of 12% of the country's Gross Domestic Product (GDP), as assessed in 2012. The Russian Federation is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are complete range of mining and extractive industries producing coal, oil, gas, chemicals, and metals, all forms of machine building from rolling mills to high-performance aircraft and space vehicles, defense industries (including radar, missile production, advanced electronic components), shipbuilding, road and rail transportation equipment, communications equipment, agricultural machinery, tractors, and construction equipment, electric power generating and transmitting equipment, medical and scientific instruments, consumer durables, textiles, foodstuffs, handicrafts.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in The Russian Federation is $ 3 576 841 billion. Each year, consumers spend around $1 089 144 million. The ratio of consumer spending to GDP in The Russian Federation is 55%, and the ratio of consumer spending to the world consumer market is 3%. The corporate tax in The Russian Federation is set at 20%. Personal income tax ranges from 13% to 0%, depending on your specific situation and income level. To read more click on economy of The Russian Federation.

Infrastructure of The Russian Federation

Infrastructure quality in The Russian Federation is rated to be at 2.59. In The Russian Federation, 100% of the population has access to electricity. There are 14 865 000 internet hosts in The Russian Federation. The Russian Federation has 1218,00 airports nationwide. The logistics performance index of The Russian Federation is 2.69. Tracking possibilities for shipments are rated at 2.85. To read more click on infrastructure of The Russian Federation.

Politics of The Russian Federation

The Russian Federation is a federal semi-presidential constitutional republic. With regard to political and civil freedoms, The Russian Federation is 3. The head of the government is Vladimir Putin.

According to the World Bank Group, the government effectiveness index of The Russian Federation is -0.08. In The Russian Federation, the legislative power is vested in a federal assembly. The Global Peace Index (GPI) for The Russian Federation is 2.954. The strength of legal rights index for The Russian Federation is 6. The Russian Federation is a member of the United Nations (UN). On 24 October 1945, it joined the UN at its inception date as a full member state. The Russian Federation is one of the original UN member states who founded the organization. The Russian Federation is a member of the World Bank. To read more click on politics of The Russian Federation.

Environment of The Russian Federation

The Russian Federation emits 12.6 metric tons per capita of CO2. 7 762 602 km2 of The Russian Federation's territory is covered in forests, and forest land comprises 45% of all the land in the country. To read more click on environment of The Russian Federation.

Company formation in The Russian Federation

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in The Russian Federation.

When establishing a company in The Russian Federation, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of The Russian Federation that will affect the establishment and growth of one's business. Contact us or click on company formation in The Russian Federation to read additional information when setting up a business.

Bank account opening in The Russian Federation

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in The Russian Federation. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in The Russian Federation, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in The Russian Federation or contact us.