What is a Russian 'golden visa' & how to obtain one?
Foreigners who invest in Russian companies can receive a residence permit in a simplified manner. So, how much does one need to invest in the Russian economy?
What are 'investors visas'?
A government decree (document in Russian) has been in effect in Russia since the beginning of 2023, according to which foreign investors can obtain a residence permit in the country. To do this, they must invest a minimum of 30 million rubles (approx. $340,000) in a Russian company or a minimum of 15 million rubles (~$170,000) into socially important regional projects within three years of applying for a residence permit.
The Russian company must have been in operation for at least three years and have paid a minimum of 6 million rubles (~$68,000) taxes and contributions for the year preceding the investor's application for a residence permit.
Or a foreign entrepreneur can register a legal entity in Russia (farm, limited liability company, joint stock company with a single founder, etc.) and work for two years in order to become eligible to apply for a residence permit. In this case, the company must pay taxes in the amount of 4 million rubles.
There is also the option to buy real estate in Russia with a total cadastral value of 25 million rubles (~$280,000) or more. However, in Moscow, it’s twice as much.
How to apply?
First, one needs to obtain confirmation from the Russian Ministry of Economic Development that the investor meets these criteria. To do this, one has to contact the Ministry with an application and the necessary documents attached.
This may be an extract from the unified state register of legal entities; documents confirming the purchase of shares in a Russian legal entity; documents of the Russian legal entity confirming the investment; information on the amounts paid by the legal entity and so on. One also needs to fill out a consent to the processing of personal data, which is in an attachment to the decree.
According to the decree, the Ministry's verification will take no longer than 30 working days. During this time, one should receive an answer whether or not the criteria for a “golden visa” have been met.
One can also apply to the Migration Department of the Ministry of Internal Affairs for more detailed information. In Moscow, the Multifunctional Migration Center (website in Russian) can help, while St. Petersburg also has its own migration center.
What provides a Russian residence permit?
For foreign citizens, this document gives the right to enter and leave Russia, to live legally on its territory, to work and to receive medical care, just like Russian citizens. The residence permit is indefinite, but it must be confirmed every year. The next step is obtaining Russian citizenship. One can apply for it five years after one receives a residence permit.
If you want to move to live in Russia and do not know where to start, we suggest you start by reading how to obtain a regular visa (or whether you need one at all!).
