The procedure of obtainment of residence permits has been much simplified for foreign investors. From now on, a foreigner applying for such residence permit and satisfying the criteria introduced by the Russian Government can undergo the procedure in an expedited manner, provide a significantly shortened set of documents. The governmental body the applications should be addressed to is the Ministry of Economic Development of Russia.
As established by the Government Decree No. 2573 dd. December 31, 2022, a foreign investor willing to apply for a residence permit is to satisfy one of the following criteria:
- investment of 15 million RUR or more in important social projects implemented in the Russian regions,
- investment of 30 million RUR or more in Russian companies,
- foundation of an active legal entity with at least 4 million rubles in taxes and fees paid annually (legal entity to be founded two or more years prior to application),
- purchase of real estate in Russia with minimal cost depending on the region of the country (Moscow: 50 million RUR, Far Eastern Federal District: 20 million RUR, other regions in Russia: 25 million RUR)
The set of documents to be provided as proof of satisfaction of one of the abovementioned criteria, as well as other important requirements, are approved by the Government Decree No. 1375dd. August 23, 2023. The results of the evaluation of the submitted application should be expected within 30 working days.
