Artem Genkin, Chairman of the Venture Capital Commission at the Council for Financial Markets and Investment (Russian Chamber of Commerce and Industry), has outlined the key criteria that Russian startups should consider when choosing a jurisdiction for international development. Speaking at the Russian Venture Forum (RVF) in Kazan, the expert explained that the decision involves not only taxes but also the host country’s political neutrality, accessibility of banking services, and the predictability of its legal system.
Artem Genkin highlighted the ease of business registration, licensing, and reporting, as well as the availability of skilled personnel and digital infrastructure. He also pointed to residency requirements and the need for a local presence. In addition, the ability to make international payments and the absence of excessive bank scrutiny of Russian founders are critical factors for many projects, he noted.
According to the economist, before entering foreign markets, startups need to assess asset portability, analyze sanctions-related, legal, and reputational risks, and identify target markets. Only then can they choose an appropriate business structuring model. Dr. Genkin emphasized that it is also essential to consider the ownership structure, tax burden, and intellectual property management strategy in advance.