How to invest
The lawful route in - and out
Capital that cannot leave is not an investment. Here is how foreign money enters Russia legally, what approvals exist and how returns are repatriated.
Step by step
Six steps for a foreign investor
- 1
Check your jurisdiction
Russia distinguishes investors from 'unfriendly' countries, who face special regimes, from everyone else. This defines your route.
- 2
Screen your own rules
Sanctions and compliance requirements of your country, banks and partners apply in parallel with Russian law.
- 3
Choose the vehicle
Direct stake, joint venture, fund, holding in a special administrative region or a platform investment.
- 4
Obtain approvals
Strategic-sector deals (Law 57-FZ) and some transactions by investors from unfriendly countries require government approval.
- 5
Open accounts and pay
Funds move through Russian banks in roubles or friendly-country currencies. Currency control rules apply.
- 6
Plan the exit
Dividend payouts, sale of the stake and repatriation are planned before entry - including tax and approval steps.
Taxes
The tax landscape
- Profit tax
- 25%corporate profit tax; 0-5% in special regimesSource: Federal Tax Service, 2025
- VAT
- 22%standard VAT rate since 1 Jan 2026Source: Federal Tax Service, 2026
- Special investment contracts
- 90special investment contracts, ₽2T+ investmentSource: Government of Russia, 2025
- Special economic zones
- ₽4.46Tinvested by 1,300+ residents of special economic zonesSource: Ministry of Economic Development, 2025
- Free Port of Vladivostok
- 2,130projects in the Free Port of VladivostokSource: KRDV, 2026
- Arctic Zone
- 1,000residents of the Arctic Zone, ₽1.1T declaredSource: KRDV, Dec 2025
- Special administrative regions
- 674companies in special administrative regionsSource: Ministry of Economic Development, 2025
- Starting a business
- 3 daysto register a company online, no state feeSource: Federal Tax Service, 2026
Be clear-eyed
Risks and restrictions
Transparency builds trust. These are the constraints every foreign investor should understand.
Countermeasures regime
Since 2022, investors from unfriendly countries face type 'C' accounts, limits on transfers and approval requirements for many deals.
Sanctions
Third-country sanctions can affect payments, banks and counterparties. Independent compliance advice is essential.
Strategic sectors
Control over companies in defence, subsoil, media and other strategic fields is subject to prior approval. Since June 2026 the list also covers fisheries, uranium, lithium, rare earths and groundwater.
Exit terms
As of 2025, sellers from unfriendly countries exiting Russian assets had to apply a discount of at least 60% to the valuation and make a budget contribution of at least 35%. Check the current rules before entry.
Land
Foreigners cannot own agricultural land or land in border territories; long-term lease is the usual route.
Currency and liquidity
Rouble volatility and a high key rate affect valuations and financing costs.
Changing rules
Regulation evolves quickly. Every structure needs a fresh legal check before signing.
Legal questions
Which countries are considered 'unfriendly'?
The list is set by the Russian Government and includes the US, EU member states, the UK, Japan and several others. The special countermeasures regime targets investors from those countries - and may also apply to companies they control, wherever those companies are registered.
Do I need approval to buy a Russian company?
In specific cases: control over strategic companies (Law 57-FZ), many transactions by investors from unfriendly countries, and larger deals that require antitrust clearance. Each transaction should be checked individually.
What is a type 'I' account?
Introduced in 2025, type 'I' investment accounts let foreign investors - including those from unfriendly countries - buy Russian securities, receive dividends and hold deposits, with a simplified regime for repatriating these investments.
How are investments protected?
Russia has bilateral investment treaties with many countries, agreements on protection and promotion of investment under Law 69-FZ, and arbitration. Note that Russian courts may claim exclusive jurisdiction over disputes involving sanctioned parties, so dispute clauses need expert drafting.
Is this legal advice?
No. This page is general information. Every transaction requires advice on the specific facts.
Get your route mapped
Legal support is provided by the Institute of Corporate Technologies, which has worked with shareholders and companies since 2008. Tell us about your case.