Summary
🫰🏻A foreigner must invest at least 15 million₽ in socially significant projects of any region within 3 years.
đź“‘Register an LLC, JSC, run a business for at least 2 years and be the sole founder.
đź’°Invest â‚˝30.000.000 in a Russian legal entity that has been doing business in Russia for at least three years.
🏡Buy real estate in Moscow worth at least ₽50.000.000.
According to the Ministry of Economic Development of Russia, a decree came into force in Russia on the 11th of January, 2023, to allow a foreign citizen who has made investments in the country to meet some criteria in order to be issued a residence permit in Russia without obtaining a temporary residence permit.
The criteria were determined according to the best world economic practices and requests of the business community.
According to this new decree, foreigners can get such preferences if they invest at least 15 million rubles in socially significant regional projects or invest 30 million rubles in a Russian company within three years before then applying for a residence permit.
It is also stipulated that this company they invest in must be in business for at least three years, and in the year preceding the application for a residence permit, must have paid taxes and income contributions in the amount of 6 million rubles.
“Another option is registration and subsequent ownership of a legal entity that has been operating in Russia for two years and pays from 4 million rubles of taxes annually,” explained the Deputy Minister of Economic Development of Russia Dmitry Volvach.
Foreign investors in Russia can also buy real estate of any purpose at the construction stage or within two years after its commissioning. This property must have a total value of about 25 million rubles (in Moscow– from 50 million rubles, in the Far East– from 20 million rubles).
At the same time, real estate must be free from all mortgage debt obligations or liability, and the foreigner must own it continuously for a year before submitting an application.
The deputy head of the department then stressed that the grounds for refusal to grant a residence permit may be not only non-compliance with the approved criteria, but also the general rules enshrined in the law on the legal status of foreign citizens in the Russian Federation.
According to Dmitry Volvach, mostly citizens of the EAEU countries, the CIS, the Middle East and Asia show interest in obtaining a simplified residence permit in Russia.
At the moment, obtaining a simplified residence permit is possible, for example, for IT specialists, as well as for citizens of countries like Kazakhstan and Moldova.
In 2023, the possibility of investments in Russia are estimated at up to 12 billion rubles, in subsequent years, it may reach up to 40 billion rubles per year.
Recall that these requirements for foreign investors to apply for a simplified residence permit in Russia were approved as part of the implementation of the norms of the federal law adopted on July 14, 2022, which makes it possible to freely enter Russia and start conducting business in any region without obtaining a temporary residence permit.
