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Finding office space

Finding office space

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The real estate sector has been developing rapidly in Russia, especially commercial real estate in Moscow and, to a somewhat lesser degree, St. Petersburg. As a company entering the Russian market, you are faced with two immediate tasks:
Establishing a legal address
Finding office space

A legal address is required for registration (subsidiary) or accreditation (representative or branch office). It is far preferable to use an address based on an actual lease for office space, but it is also possible to purchase "legal addresses." However, we do not recommend buying the latter, as it can cause delays in registration or cause problems at a later date when carrying out other formalities.

Finding actual office space is more complex, of course, as people prefer to do business in offices they actually like and to project the proper corporate image. While there are plenty of real estate brokers and many that specialize in working with foreigners, you can expect to have a lot of legwork unless you are prepared to take Class A space at Class A prices. There is usually a shortage of smaller premises (under 100 sq m), and recently excess money in the economy has led to bidding wars over prime office space.

The rental agreement is very important and should be reviewed by a qualified lawyer. Your broker/agency may provide one, but make sure you understand all the details in your native language. There are several key terms in the tenant/landlord relationship that should be clarified to avoid later misunderstandings. For Class A space rented in private business centres from reputable brokers, this is not so much the case. For less expensive premises, which may be in an administrative or multi-function building, take extra care.
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Finding office space
Finding office space
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