Foreign citizens will be entitled to obtain permanent residence permit in Russia for investments

The Ministry of economic development has taken the initiative to grant permanent residence permit to those foreign citizens who are willing to invest in the economy of the Russian Federation.

Foreigners will be able to obtain permanent residence permit in Russia in simplified manner if certain legislative requirements are complied with. It is necessary to meet one of the following conditions to do so:

• to set up a company and invest at least 15 million rubles in its capital;
• to invest in a Russian company 15 million rubles;
• to own a foreign company operating in the Russian Federation for at least 3 years and invest at least 50 million rubles in it;
• to own Russian government bonds or real estate worth at least 30 million rubles for three years;
• to become a sole proprietor and invest 10 million rubles in your business and employ 10 Russian citizens.

It is expected that «golden passports» will positively affect the Russian economy and will allow to create additional workplaces. Meanwhile, the procedure of foreign citizens’ legalization who are interested in doing business in Russia will be significantly simplified.