Russia: foreign nationals may obtain permanent residence permit based on investments
We would like to inform you that foreign nationals may now apply for a permanent residence permit in Russia based on investments. The relevant legislation as well as eligibility criteria came into force on 11 January 2023.
Which documents introduce the changes?
- The Decree of the Government of the Russian Federation No. 2573 dated 31.12.2022 (http://publication.pravo.gov.ru/Document/View/0001202301040004)
- Federal Law No. 357-FZ dated 14.07.2022
What are the changes?
To obtain a permanent residence permit (PRP) based on investments you must meet one of the following criteria:
1. Investing in socially significant projects of Russian regions
You need to invest at least 15 million rubles within 3 years prior to your PRP application.
2. Establishing a business in Russia
You need to register a legal entity in Russia, and this entity must carry out business activities for at least 2 years prior to the calendar year of your application. Carrying out business activities means paying due taxes and contributions to state funds in the amount of at least 4 million rubles per year. Additional requirements to the legal form of the company and its participants may apply.
3. Investing in an existing business in Russia
You need to invest at least 30 million rubles in an existing Russian legal entity that carries out business activities in a specific legal form for at least 3 years.
Such a legal entity must pay due taxes and contributions to state funds in the amount of at least 6 million rubles in the calendar year preceding your PRP application.
4. Investing in new real estate
You need to purchase real estate of any designation, while under construction or within 2 years from its commissioning and own it for at least 1 year prior to your PRP application. The joint cadastral value of purchased real estate should be at least 50 million rubles in the city of Moscow, 20 million rubles in regions of the Russian Far East Federal District, or 25 million rubles in all other Russian regions.
Who will be affected?
Foreign citizens who invest in Russia and would like to obtain a permanent residence permit based on investments.