A foreigner recognized as "legally capable" according to the legislation of his country may carry out business activity in Russia. Same rights are given to stateless persons recognized as legally capable according to the legislation of country of their permanent residence.
Foreigners are subject to certain limitations in relation to their activity as private entrepreneurs. Only foreign citizens and stateless persons holding a permit for temporary or permanent residence in Russia may conduct business activity as private entrepreneurs.
There are no limitations regarding the creation of legal entities by foreigners or stateless persons as, in this case, a Russian legal entity is subject to the requirements of Russian legislation and accountable to Russian regulatory and supervising authorities. A foreigner is not required to reside in Russia to create such a legal entity.
An exception to this rule is made for foreign investors or a group of investors including a foreigner, related to transactions with shares constituting registered capital of a company, including limited liability companies in the defense and state security sectors, establishing control of a foreign investor or a group of investors including a foreigner over the company. These transactions are regulated in accordance with Federal Law “On Procedures of Conducting Foreign Investments into Economic Societies Holding Strategic Importance for State Security and Defense.”
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