Russia’s Residency By Investment Program
‘Dual citizenship is a new concept that is welcomed by people globally except a few countries and Russia is one of those. Though this country doesn’t favor this practice much, there’s an increasing number of Russian and non-Russian people who are holding citizenships of different countries. There is an easy and hassle-free procedure for applying for a passport. In fact, for qualified professionals, a Russian passport is one of the easiest passports in the world. If you’re self-employed and have a successful business, you can move it to Russia and potentially qualify for citizenship in three years.
Those who live in Russia, need to declare their foreign passports to the government. Those who are not Russian can obtain citizenship in various ways. Though it does not have a ‘Citizenship by Investment program, it does offer a ‘Residence Permit by Investment. After obtaining citizenship or residence permit, people will get a passport with visa-on-arrival or visa-free access to more than 111 countries. It also gives you the right to vote and ease of movement. Please note, the list of visa-free countries is calculated to reflect the number of countries Russian passport holders can enter without a visa, through a visa on arrival, and through the eTA.
Now let’s see how to get a residence permit in Russia by Investment. To obtain this, investment can be done in various ways.
- Capital investment: Investment in a company
The first one is pretty simple. If you are running a successful business, you are eligible to move to Russia and get a residence permit in 3 years. If it is a Russian company, the investor has to increase the capital by 15 million Rubles (US$ 200,000) and if it is a foreign company, the amount is to be increased by 50 million Rubles (US$ 660,000).
- Entrepreneurs: Investment in a new business
You can also gain a residence permit in Russia if you’re about to start a new business. The only conditions are that you shall generate a taxable revenue of 10 million rubles every year for three years (US$130,000) and you must hire at least 10 Russians as employees.
- Investment in an existing business
If the investor wishes to invest in an existing business, he needs to invest at least 15 million rubles (US$ 200,000) in a Russian company. The selection of the company must be done wisely. He does not have to become a shareholder of the company. That business shall be picked which has been in operation for at least 3 years, has paid taxes of at least 6 million rubles (US$ 80,000) to the government, and provides employment to at least 25 persons.
- Investment in gold bonds
If the investor doesn’t wish to enter any business, he can invest his money in government bonds and gain a Russian permit for residence. He should buy government bonds worth 30 million rubles (US$ 400,000), hold the same for at least 3 years, and then he can apply for the permit.
- Investment in real estate
The investors also have the option to invest in real estate if they wish to obtain a residence permit in the country. They must possess real estate of a total value of at least 30 million rubles (US$ 400,000). They must have it for at least 3 years before applying for the residence permit.
So, these are the five ways in which one can get a residence permit in Russia. If you are willing to get the same and can invest your money, this is the easiest country to offer residence to foreigners.
Russia does not have citizenship by investment program but it is possible to acquire Russian citizenship through a fast track naturalization procedure which takes at least 3 years (cannot be faster than this).
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