Investing in St. Petersburg: A Guide to Investment Opportunities and Business Practice (Global Market Briefings Series)

Investing in St Petersburg is the definitive guide to investment opportunities and business practice in Russia's original capital city. Published in association with the Government of St Petersburg, the guide provides an objective assessment of the economic and investment climate, information on market potential in key industry sectors; combined with uniquely authoritative and practical advice on the mechanics of investing and doing business in the city. Book Cover......Page 1 Title......Page 4 Copyright......Page 5 Contents......Page 6 Preface......Page 10 Foreword......Page 12 Doing Business with St Petersburg......Page 14 List of Contributors......Page 18 Acknowledgements......Page 34 Introduction......Page 36 Part One Market Background to Investing in St Petersburg......Page 48 1.1 Local Government of St Petersburg......Page 50 1.2 Economic Policies of the Government of St Petersburg and Emerging Market Opportunities......Page 58 1.3 St Petersburg Government Strategy for Business Development and Attracting Foreign Investment......Page 68 1.4 Foreign Investors and Joint Ventures in St Petersburg......Page 86 1.5 Understanding Russia’s Business Environment with a View to Investing in St Petersburg......Page 102 Part Two Business Development......Page 112 2.1 An Economic and Political Outlook for Russia......Page 114 2.2 The Banking Sector in St Petersburg......Page 120 2.3 The Stock and Fixedincome Market in St Petersburg......Page 132 2.4 Currency Regulation......Page 144 2.5 Brownfield Investments......Page 152 2.6 St Petersburg’s Labour Market......Page 158 Part Three Dynamic Sectors of St Petersburg’s Economy......Page 174 3.1 An Overview of the Real Estate Sector......Page 176 3.2 An Overview of Land Development, Hospitality (Tourism) and the Commercial Real Estate Sector in St Petersburg......Page 184 3.3 Regulation of the Real Estate Market in St Petersburg......Page 200 3.4 Practical Steps and Guidelines for the Acquisition of Residential Property in St Petersburg......Page 210 3.5 St Petersburg Real Estate Sector......Page 220 Manufacturing and Natural Resources......Page 237 3.6 The Market for Engineering Services......Page 238 3.7 The Electrical Energy Sector......Page 250 Services......Page 259 3.8 Development of the Transport System and Road Sector in St Petersburg......Page 260 3.9 Building and Construction......Page 280 3.10 The Retail Sector......Page 288 3.11 The Market for Fixed Telecommunications......Page 296 3.12 The Mobile Telecommunications Market......Page 308 3.13 The IT Sector in Russia and St Petersburg......Page 322 3.14 Sophisticated Communications Services within Different Spheres of St Petersburg’s Economy......Page 334 Company Profiles and Investor Experiences......Page 339 3.15 The Business Experience of Private (Foreign and Domestic) Investors in St Petersburg......Page 340 3.16 PeterStar Company Profile......Page 360 Part Four Commercial Legislation for St Petersburg – The Taxation and Legal Environment......Page 370 4.1 The Regulatory Environment for International Business in the Russian Federation......Page 372 4.2 Corporate Structures......Page 382 4.3 Practical Steps for Establishing a Corporate Presence......Page 390 4.4 Business Taxation......Page 398 4.5 Auditing and Accounting......Page 410 4.6 Let’s Move Production to Russia......Page 418 4.7 Intellectual Property......Page 426 4.8 Arbitration and Dispute Resolution......Page 430 4.9 Employment Law and Work Permits for Expatriates......Page 440 Part Five Appendices......Page 448 Appendix I Service Companies......Page 450 Appendix II Useful Web Site Links and Web Site Reviews for St Petersburg......Page 456 Appendix III Contributor Contact Details......Page 458 Annotation. * Definitive English language guide to investment opportunities and business practice in Russia's original capital city* First authoritative guide for international investors, companies and entrepreneurs considering or already involved in business projects in the St PetersburgEndorsed by the American Chamber of Commerce and by the City Government of St. PetersburgSt. Petersburg, the old capital of the Russian Empire, was eclipsed by Moscow during the soviet era, and lost its importance as a world business center. But, since the break-up of the Soviet Union, the city has successfully managed an economic revival and market reform program which is attracting some of the biggest international and Russian companies and banks- either to set up branches or even to relocate their Russian headquarters. The business conditions are now conducive for international investing and many opportunities exist. Aimed at an international audience of professional investors, entrepreneurs, multinationals and western companies, Investing in St. Petersburg provides an objective assessment of the economic and investment climate, information on market potential in key industry sectors; combined with uniquely authoritative practical advice on the mechanics of investing and doing business in the region. The investment projects, companies and leading business personalities of St. Petersburg are presented and editorial contributions come from leading banks and international professional service firms with direct hands-on business experience. Editorial contributors include: KPMG, Standard & Poors, The European Bank for Reconstruction and Development, the International Chamber of Commerce and leading Russian organizations based in St. Petersburg