Residence permit for foreigners in Russia:  “investments” case  

The Ministry of Economic Development has introduced a legislative proposal to simplify obtaining a residence permit for foreign citizens-investors in the  Russian economy.

Necessary conditions for obtaining a residence permit of this specific type:

  • Own a Russian company by investing at least 15 million rubles in its capital.
  • Own a foreign organization with a need of an investment  $ 50 million. The company must function for at least three years.
  • Reinvest 15 million rubles in the Russian business (not necessarily to become its shareholder). However, the company must also exist for at least three years, pay at least 6 million rubles in taxes, and employ at least 25 people.
  • Open an individual entrepreneur by investing 10 million and employing 10 Russians.
  • Own Russian government bonds or real estate worth 30 million rubles for three years before applying for a residence permit.

On the one hand, this will make it easier to obtain a residence permit, on the other, the conditions for obtaining such a residence permit are higher than similar ones, for example, in European countries.

The holder of a residence permit receives:

-health insurance

-social services package

-work on the territory of the country without obtaining an additional permit

-visa-free entry to the same countries where Russian citizens can enter

There is no doubt that at the moment it is quite difficult to get a visa to Russia, but due to the introduction of electronic visas from January 1, 2021, this process is simplified and the price of a visa of 40 euros will not increase the interest in a residence permit from foreigners.

For advice on investing in Russia, contact the company’s specialists at the link.

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