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Russia is short on cash and suffers of declining population. Hence this legislative proposal from the Russian State Duma (the lower house of Russian Parliament) which aims to make Russian residency and citizenship more accessible for average investors.
This legislation was proposed in November 2020 and we are looking at the screenshot from a local legislative and accounting database “Consultant plus”.
Foreign investors and members of their families will be eligible for residency under following conditions:
• You need no less than 15 mln rubles invested in company stock (1 USD = 74 roubles as of the beginning March 2021), so we are talking about $200K.
• Or to keep 10 mln rubles in a bank for business purposes within Russia. Within a year since acquiring residency status investor needs to hire no fewer than 10 Russian citizens and form a legal person.
• Or own real estate with cadastral value of no less than 30 mln rubles for three years without interruption before you can apply for residency.
The proposal will become law around summer and we will keep you updated.