CONDITIONS FOR STARTING A BUSINESS IN CHINA AND RUSSIA BY FOREIGN CITIZENS

Abstract

The article is devoted to the study of the conditions for doing business by foreign citizens in China and Russia. The following companies in China available for creation by foreign citizens are considered: Wholly Foreign-Owned Enterprise (WFOE); Sino-Foreign Cooperative Joint Venture (JV); Representative offices (RO). Particular attention is paid to the value aspect of building partnerships with the Chinese, considering the concept of “guangxi” and given recommendations regarding it. Further in the article, the value aspect of building partnerships with the Chinese is noted: we will consider the concept of guangxi and give recommendations on it. Next, describe the three legal structures for doing business in Russia: opening permanent representative offices; creation of legal entities with the attraction of foreign capital; registration as an individual entrepreneur carrying out activities without forming a legal entity. At the same time, special attention is paid to special connections in Russia as a special condition for making a profit from doing business.