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The Place
Russia is a land of unbelievable riches, great minds, generous hospitality and industrial
wonders. These roots co-exist in equally diverse landscapes of sun-kissed beaches,
forests, lakes, mountains and grasslands – no wonder those who visit Russia call
it simply amazing.
The Russian Federation is the world’s largest country territorially, with an area
of more than 17 million square kilometres which houses the ninth most populous nation
in the world.
In recent years, Russia has undergone numerous and significant changes, the most
instrumental being the end of communism and the break-up of the U.S.S.R. into independent
states.
Consequently, the country then launched a number of reforms including the privatisation
of many industries, which then resulted in an economy that is robust and possesses
tremendous growth potential.
The Economy
Russia has a robust economy with enormous natural resources, particularly oil and
natural gas, and has frequently been described in the media as “the energy superpower”.
The country has the world's largest natural gas reserves, the 8th largest oil reserves,
and the 2nd largest coal reserves.
Consequently, Russia currently has the 6th largest economy in the world by nominal
GDP, which amounted to $ 2,116,000 trillion in 2010.
It is therefore easy to discover that Russia offers some exceptional business attributes
which currently makes it one of the most promising IFA locations.
Russia's enormous domestic market, vast natural resources and superior workforce
have also sparked substantial foreign interest. Notably, in 2010, Forbes revealed
that Russia's billionaires nearly doubled their riches during the last year alone.
The combined net worth of Russia’s billionaires in 2010 skyrocketed to $182 billion,
up by 30 percent from $139 billion in 2009, thus creating unprecedented opportunities
for those looking into careers in Russia.
The unit of currency in Russia is the ruble. It is illegal to conduct cash transactions
in foreign currency with Russia. There are many ATM machines and all places of business
accept most credit cards.
The Lifestyle
Moscow is an exciting city that is buzzing 24/7.
The capital city of Russia serves as the primary political, economic and financial
centre. Moscow naturally holds a central position in the Russian lifestyle, with
its historical, political, economic, cultural and spiritual features oozing throughout.
The least of your worries as an IFA working in Moscow will be finding ways to spend
your leisure time. Moscow has always been a popular locale for expats and holidaymakers
alike, largely because of the exciting events all-year round. The city also offers
fantastic restaurants, cafes and bars, as well as a world-class arts scene.
The Russian people are known to be innovative, enthusiastic, resourceful and humorous.
Expats report a lifestyle that is tremendously profitable from a financial standpoint
and incredibly gratifying from a social perspective. Moscow is definitely one of
the top cities in the world for an expat IFA!
Day-to-day business is very much related to that of the Western world affairs. Invoices
are issued paid, office equipments are modern and telecommunications are efficient
and quite cheap; over-all contributing to a rather easy-going working environment.
The Prospects
Although the way of life in Moscow is somewhat unique when compared to other Russian
regions, doing business in Moscow very much carries the same excitement and buzz
about making money as the country’s other regions.
It comes as no surprise that Moscow was dubbed as one of the world’s most exciting
cities, being particularly thrilling if you are involved in international financial
services, as the city offers huge earnings potential.
With over 100,000 expatriates and Russians wanting to invest, Moscow has never a
shortage of prospects, with the majority of expats in Russia holding senior positions
in firms, thus commanding extremely high salaries with loads of disposable income.
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