The Russian government has taken a number of steps to attract foreign investors, including tax incentives, easy visa and work permit applications, and more. One of these is through the introduction of the Investor Immigration Program, or the Russian Golden Visa.
What Is the Russia Golden Visa?
The Golden Visa in Russia offers foreign individuals the opportunity to obtain residency by investing in the development of the country. Foreign investors who wish to move to Russia can do so by applying for a Golden visa. This visa allows investors and entrepreneurs to invest in real estate or open new businesses in exchange for permanent residency.
Additionally, foreigners who live in Russia on a residence permit for five (5) years with a legal source of income and those who are proficient in the Russian language may gain citizenship, without the need to reside in Russia for six (6) months in a year.
The foreign investor can include in their application several family generations, such as their:
- Spouse
- Children
- Children’s spouses
- Parents
- Parents’ spouses
- Grandparents
- Grandchildren
When Can I Apply for the Russia Golden Visa?
Unfortunately, you can not apply for the Russia Golden Visa yet. Although it has been introduced, it has not yet become functional.
However, there are other options available if you wish to reside in Russia. You can apply for the temporary residence permit (TRP), if you have a valid reason to stay in Russia for more than 90 days, such as work, study or family reunion. This permit is valid for a period of three years. Or, you can apply for a permanent residence permit (PRP), which is obtained after you have lived for a year in Russia on a TRP. These permits are not based on investment, but on other criteria such as employment, education or family ties.
Who Can Apply for the Russia Golden Visa?
Foreign investors from all countries can apply. However, due to political reasons i.e., sanctions and restrictions, investors from Western countries may face difficulties when applying. Investors from China and India are currently the most active in using residency and investment programs, and it is predicted that they will benefit greatly under this scheme.
Requirements for the Russia Golden Visa
In order to apply for the Golden Visa, you must be able to meet some requirements. First of all, before you even apply, you must have made the investment within:
Three (3) years for the socially significant project category
Two (2) years for the business establishment category
Three (3) years for the business investment category
Two (3) years for the real estate investment category.
Note: Mortgaged property does not qualify as a real estate investment.
Investment Requirements for the Golden Visa in Russia
If you are an investor or entrepreneur wishing to invest in Russia, you must meet the following requirements:
- Investment of US$200,000 (RUB 15 million) in “socially significant projects”
- Investment of US$40,000 (RUB 30 million) in a Russian legal entity. The business must be carrying out entrepreneurial activities (LLC, joint-stock company, farm, or business partnership).
- US$270-680,000 (RUB20-50 million) in real estate:
- RUB 50m in Moscow
- RUB 20m in the Far Eastern Federal District
- RUB 25m elsewhere in Russia
- Business investment in a company that contributes taxes and fees, as well as extra-budgetary funds, which should all account for at least RUB 6 million. The company should be an existing company (business partnership, joint-stock company, farm, LLC).
- A business establishment where you should be the sole founder that contributes fees and taxes as well as “extra-budgetary funds”, which should all account for at least RUB 6 million.
Can I Get Citizenship with a Russia Golden Visa?
No, you cannot. A Russia Golden Visa will not secure you Russian citizenship. This is because the program only offers residency by investment. This makes it possible for the applicant to obtain residence in Russia. However, if you wish to gain citizenship in Russia, you can do so. You can gain citizenship through a naturalization program, but you can only apply three years after you have successfully become a resident in the country.
Russia Golden Visa for Indians
The Golden Visa in Russia specifically targets citizens from India. Russia has long become India’s main trading country. This initiative of Russia will further attract Indian investors to invest in a variety of sectors in Russia. Indian citizens will have the opportunity to visit and live permanently in Russia through the Golden Visa program.
Citizens from India won’t have to apply for a PRP (permanent residence permit) to enter the country, as a Golden Visa will allow them to stay in the country until they officially become eligible for residency. The real estate sector along with the stock market, are two of the most important investment opportunities at the moment. Additionally, Russia is rich in natural resources, including minerals, gas, and oil. Exploration, development, and processing of these resources are all open to foreign investors.
What Is the Russian Direct Investment Fund?
Russian Direct Investment Fund (RDIF) is a sovereign wealth fund. RDIF is an investment program in Russia which allows foreign investors to invest in different sectors, such as infrastructure, technology, healthcare, agriculture and others. The Russian Direct Investment Fund was implemented in order to promote investment in the country’s economy. Unlike the Russia Golden Visa, the RDIF program does not offer residency. Applicants are eligible for benefits such as access to government support, tax incentives, opportunities for co-investment with Russian companies, and others.
Also Read: Obtaining Russia visa