Pay and live: Economy Ministry develops Russian equivalent of “golden passports” / Comment / Izvestia.Ru
According to a Ministry of Economic Development draft law (Izvestia has a copy), the Ministry has proposed to issue foreigners resident permits in exchange for investment. To get a resident permit, it will be necessary to invest at least 10 million rubles in Russian business, or own at least 30 million rubles in federal bonds or real estate. However, First Deputy Minister of Economic Development Mikhail Babich noted that the program should not create false premises for immigration status: it is mostly aimed at the inflow of investment. The tool will be in demand among citizens of “challenging jurisdictions”, such as Middle East countries and Africa, experts predict. However, they note that the program is more expensive than its European counterparts.
Andrey Gusev, Managing Partner at Borenius Russia, shared his point of view with Izvestia on demand for this program.