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Главная \ News \ The draft law on “golden visas” for foreign investors was approved by the departments of the Russian Federation

The draft law on “golden visas” for foreign investors was approved by the departments of the Russian Federation

The bill on a simplified procedure for issuing residence permits (residence permits) in the Russian Federation (the so-called “golden visas”) to foreign investors has been approved by the authorities concerned, and the procedure for its adoption will be launched in the near future, said the head of the Ministry of Economic Development Maxim Reshetnikov. “With regard to the initiative to provide a residence permit for foreign investors, the proposal prepared by the Ministry of Economic Development and Trade was supported by our colleagues in the federal authorities. And this is an important step for creating favorable conditions for those who invest in the Russian economy”, the minister said speaking at a round table with the participation of representatives of the Association of European Businesses in the Russian Federation. “We hope that in the near future a procedure for amending the legislation will be launched, which will enable investors to permanently reside in the country, move, of course, cooperate with any Russian companies. This will be a significant step in creating more comfortable working conditions here for those who are active invests in the Russian economy and develops it”, he added. In November, the Ministry of Economic Development and Trade posted on the portal of draft regulatory legal acts a draft law aimed at simplifying the procedure for issuing a residence permit to foreign investors in the Russian Federation. So, in order to obtain a residence permit, a foreign investor must invest at least 10 million rubles in opening a business in Russia and employ at least 10 Russian citizens or own for at least three years Russian government bonds or real estate for at least 30 million rubles.

Source: www.interfax.ru

News
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

Net capital outflow from Russia by the private sector by the end of 2020 increased 2.2 times compared to the same period last year and amounted to $47.8 billion.

The decline in foreign direct investment (FDI) in the Russian Federation in January-September 2020 amounted to about 80%, according to the report of the World Bank (WB).
Net capital outflow from Russia since the beginning of the year has approached $48 billion.
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