The Ministry of Economic Development will submit to the government a bill on “golden visas”

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The Ministry of Economic Development intends on April 22 to submit to the government a bill on “golden visas” for foreign investors. This was announced by the Minister of Economic Development of Russia Maxim Reshetnikov.

“Today, the government will also introduce a law on the so-called“ golden visas ”, namely, we will simplify the conditions for obtaining a residence permit for foreign citizens who are ready to invest in our economy,” Reshetnikov said during a conference of the Association of European Businesses.

Earlier, on March 24, the press service of the Ministry of Economic Development of the Russian Federation told Izvestia that the Russian program of “golden visas” will start working from the 4th quarter of 2021.

In November last year, Izvestia wrote that the Ministry of Economic Development has prepared a bill that allows foreigners, in a simplified manner, to obtain a residence permit in Russia for investment in the economy. To do this, they need to fulfill at least one of several conditions: they need to own a Russian company, having invested at least 15 million rubles in its capital. Ownership of a foreign organization is also allowed, but then you need to make an investment of 50 million rubles. In this case, the company must work for at least three years.

Another condition is investment of 15 million rubles in Russian business (it is not necessary to be a shareholder). However, the company must exist for at least three years, pay at least 6 million rubles in taxes and employ at least 25 people.

The next condition is to open an individual entrepreneur, invest 10 million in it and employ 10 Russians.

Also, a foreigner can own Russian government bonds or real estate worth 30 million rubles for three years before applying for a residence permit.