Russia is working on new proposals to launch a golden visa scheme, similar to US, UK, EU and Canada to attract foreign investment into the economy. The Golden visa program is not launched yet but coming soon!
The Russian Ministry of Economic Development has prepared a draft bill that will allow foreigners making the following investments in Russia, will be eligible for permanent residence rights (right to work, health coverage and other benefits) with exemption of military service.
Russia is the world’s largest country in terms of territory, with a consumer market of over 140 million people, vast natural resources, a highly educated workforce, and technologically advanced research and production capabilities. Russia has tremendous growth potential. Investment opportunities exist in every region and in every sector of Russia’s economy,
Why Invest in Russia
- Russia is one of the powerful world economies in the world, with vast natural resources and reserves of oil, energy and steel.
- Russian residency is particularly attractive for many investors from neighbouring CIS countries.
- Prices and demand for russian real estate market has soared in recent years with consistent gains.
- Dual citizenship legalized in Russia.
- No language requirement or special conditions.
- Investment incentives such as no VAT and customs duty, for investments in far east and special economic zones.
- Path to Russian citizenship after 3 years.
Golden Visa
The following investments qualify for golden visa in Russia.
- Real Estate: Own Russian real estate worth 30 million rubles (US$ 400,000) for three years
- Government bonds: Own Russian government bonds worth 30 million rubles (US$ 400,000) for three years
- Entrepreneurs: Open an individual entrepreneur, investing 10 million (US$130,000) in the business and hiring 10 Russians.
- Capital investment: Own a Russian company by investing at least 15 million rubles (US$ 200,000) in its capital. You can also own a foreign organization, but then you need to make an investment of 50 million. The company must work for at least three years.
- Russian business: Invest 15 million (US$ 200,000) rubles in a Russian business (not necessarily becoming its shareholder). The company, however, must also exist for at least three years, pay at least 6 million rubles in taxes and employ at least 25 people.
Conditions
- No tax breaks or special benefits.
- Investors with permanent resident rights can exit and enter the country anytime. Family members are also given residency rights.
- Must not spend more time outside Russia. If the investor spends more than one year abroad outside Russia, the permit may be revoked.
Russia does not have citizenship by investment program but it is possible to acquire russian citizenship through a fast track naturalization procedure which take atleast 3 years (cannot be faster than this).
Taxes
Russia tax residents pay 13% on their worldwide income as income taxes in Russia, while Russian-source income is taxed at 30% for non-residents. Self-employed persons pay 4-6% on turnover.
The corporate tax rate of 20% is a combined federal and regional rate.
