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GlobeBill Helps Chinese Merchants Entering Russian Market Thanks to a growing domestic market, inexpensive human capital, natural resources and political continuity, Russia is increasingly being considered a country with a stable investment climate. Although restrictions on foreign investment have been lifted, a few sectors still remain closed to foreign involvement. Regulations restrict full access to the banking sector, nuclear energy, military technology, and the space industry. Russian policies that seek to encourage investment may be encountered in the form of tax reliefs and holidays, reduced administrative barriers, and the development of private-public partnerships. In the near future, like its BRIC counterparts, Russia’s government is planning on investing heavily in infrastructure development to promote investment and allay logistical fears. As in China, representative offices of foreign entities are limited to conducting liaison and support functions, but branch offices are free to perform all of the foreign entity’s operations. Many investors therefore opt for branch offices at the initial stages because these entities are allowed to engage in any kind of commercial activity, have similar procedural requirements, and are subject to less cumbersome reporting requirements than Russian legal entities. At the same time, for many investments, including joint ventures and production plants, issues connected with licensing, customs and privatization of state property, a Russian legal entity may be better suited to an investor’s needs. Business man thinks that it should not be too hard to break into the Russian market through e-commerce market. In fact, there are many things to do except establish own brand and sailing channels. Russia's cultural traditions, laws and regulations, customs clearance are the aspects which electric business man have to solve. Among these problems, the receivables and external power are of the most concern. In many cases, efficiency receivable is better to gain a firm foothold in the Russian "East Wind". Russian local payment companies are very strong, which makes PayPal and credit card receivables payment gateway not popular in Russia. The external power is to enter the Russian market in order to better expand market access to Russian local online payment methods. By establishing a local payment gateway in Russia; GlobeBill (www.globebill.com) can effectively help the foreign investments solve the problems of operating online payment solution difficulty. As a representative of GlobeBill, Lin said that the number of Chinese third-party payment companies involving in Russian Foreign Trade receivables were very limited which has caused a lot of obstacles when foreign power want to enter the Russian market. The payment gateway will be able to provide both Russian and Chinese merchants a professional payment solution in Russian local business.

GlobeBill Helps Chinese Merchants Entering Russian Market  

Globebill, based in Hong Kong, is the rising leader in secure online payment solutions that was founded to facilitate safe instant payments...

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