The Russian government announced its plan introduced a residency by investment program last November 2020. Draft legislation drawn up by the country’s Ministry of Economy suggests that investors will be able to gain Russian permanent residency rights in exchange for a minimum investment of 10 million rubles (approximately $130,000) into a Russian company formation on which creates at least 10 jobs. There will be several other investment options to choose from at a higher rate, including a real estate option requiring a minimum property purchase of 30 million rubles (approximately $400,000). Applicants will initially be granted a temporary residence permit and can apply for permanent residency after one year. Knowledge of the Russian language will also be required.
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 ).
Residence Permit by Investment Options
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.
Documents for obtaining Temporary Residence
Documents for obtaining Permanent Residence
Step 1: Get the Invitation to Russia (Russian Visa Support) – start your Russia visa application by getting the invitation to travel to Russia. The invitation is the basement of your Russian visa application. It is also known as the visa support document. The type of invitation and its issue differ according to the purpose of your trip to Russia. Visa Support for business visits. This could be any of the following:
Step 2: Complete the Russian Visa online application form – after getting your Russian visa support, you can proceed with the other steps. The next step is completing the online Russian visa application form. It is available at the Russian Ministry of Foreign Affairs (MID).
Step 3: Collect the Russian Visa required documents – continue the Russian visa application by collecting the required documents for a Russian visa. The standard documents required for every visa are a printed application form, valid passport, a recent Russian visa photo, proof of residence, bank statements for the last three months, Visa support (invitation), and health insurance. You will also need to submit additional documents according to the purpose of your trip. Note that according to your nationality, you may have to submit extra documents as well.
Step 4: Apply in Person at Russian Consulate/Russian Visa Processing Center – you will need to submit the required documents at the Russian consulate or the visa center representing Russia for visa admission. If you will be submitting your application at the Consular section of the Russian Embassy, you should make a prior appointment. On the other hand, application centers accept walk-in applicants. So, an appointment is not compulsory. Most of the applicants are not required to attend an interview. Still, if the embassy estimates it is necessary, you may be invited for an interview upon the submission of your application.
Step 5: Pay the Russian Visa Fee – you will need to pay the fee for your visa at the consular sections. Most of the embassies accept only payments by bank cards. However, some others accept cash as well. You should check for this with the Russian embassy in your home country.
Step 6: Collect your Russian Visa – you will get a notification on your case after the Russian embassy decides on your application. If they grant you a visa, there will be a visa sticker on your passport. The sticker contains information on you, your visa, the period of permitted stay, and the inviter.
Step 7: Get the Russian immigration card – with the visa sticker on your passport, you can freely travel to Russia. Still, there remain some procedures you need to complete. Upon arrival at the Russian port of entry, the border police will issue you an immigration card. The card consists of two identical parts, both of which you need to fill in. The border police keep one part of the card. You should take the other one with you. Later, you will need to return this card to the border police, when you live.
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Privacy World can also help you with incorporating your company in Russia, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.
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Russian legislation allows dual citizenship as well as second citizenship. Dual citizenship is provided for citizens of those countries that signed the relevant treaty with Russia.
You must legally reside in Russia with a temporary residence permit for one year, and live as a permanent resident for five years with no periods living outside Russia exceeding three months in any one year to obtain citizenship.
Yes, the dependent can join the temporary permit holder.
First of all, you need to choose the type of Russian visa you would like to obtain. Then you should submit a Russian visa application form to the Russian consulate personally.
Most of the applicant are not required to attend an interview. Still, if the embassy estimates it is necessary, you may be invited for an interview upon the submission of the application.
Yes, knowledge of the Russian language is required.
It takes 5 years of permanent residency in Russia.
Tax residents pay a 13% tax rate on an annual income up to 5 million p. income above this limit is subject to 15% taxes.
Russian-sourced income is taxed at 30% for non-residents.
There are no taxes on net wealth/worth in Russia.
There has been no inheritance tax in Russia since 2006.