Residence permits for investors proposed in Russia
Please be informed that the Russian Ministry of Economic Development has drafted a law, which may allow issue of permanent residence permits (PRPs) to foreign investors under simplified terms.
Which draft law proposes the changes?
- Draft of Federal Law (available in Russian at the link)
- Draft of governmental decree on the criteria of a foreign investor (available in Russian at the link)
What the proposed changes?
Should the draft law and suggested criteria be adopted, a foreign national will be eligible to obtain a PRP in Russia under simplified terms if he or she fulfils one of the following conditions:
- Holds a share in the statutory capital of a Russian company of at least 15m rubles;
- Is a founder of a foreign company which holds a share in the statutory capital of a Russian company in the amount of at least 50m rubles;
- Invested at least 15m rubles within 3 years in a Russian company which paid taxes and insurance fees in the amount of at least 6m rubles or employed at least 25 Russian citizens in a calendar year that preceded the PRP application;
- Confirmed having at least 10m rubles on a bank account for the purpose of entrepreneurial activity, registered himself as an individual entrepreneur in Russia within 1 months after obtaining a PRP and employed at least 10 Russian citizens within 1 year;
- Owns Russian government bonds costing at least 30m rubles for 3 years;
- Purchased newly built real estate of cadastral value of at least 30m rubles and owns it for 3 years.
It is envisaged that this PRP will be available to foreign investors as well as their family members (spouse, children).
As of today, the draft law is under development and has not been introduced to the parliament yet.
Who may be affected?
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Foreign nationals who consider permanent residence in Russia based on investments