Golden visa

Russian Federation Golden Visa

Foreign investors and entrepreneurs (and their family members) can obtain a residence permit in Russia under the simplified procedure through the so-called “golden visa” program, which has been in effect since 2023 [1].

A residence permit[2] entitles the holder to freely enter and reside permanently in Russia, to work (without obtaining a work permit) and conduct business in any region of Russia, and to use most social services on an equal basis with Russian citizens (including free medical care and education).

The “golden visa” differs from a “standard” Russian residence permit in the following ways:

- It is not necessary to obtain a temporary residence permit in advance, which is issued as a general rule within the government quota and with a limited period of validity[3];

- After obtaining a residence permit under the Golden Visa program, a foreign citizen is not required to reside in Russia for six months or more in a calendar year[4].

Similar “golden visa” programs for investors and entrepreneurs exist in other countries, but the Russian program has a number of indisputable advantages:

-       as mentioned above, there is no requirement for a minimum number of days spent in Russia;
-       there is no requirement to “freeze capital” — after receiving a “golden visa,” the acquired assets can be sold;
-       the possibility of obtaining a residence permit extends to a wide family circle, including adult children, spouses of children, grandparents, and grandchildren;
-       Russia has a comparatively low tax burden on both personal and business income;
-       the possibility of applying for citizenship after only 5 years.

    You can obtain a residence permit for investment (a “golden visa”) in the following cases[5].

1.   Investment in real estate

The investor acquired Russian real estate at the construction stage or within two years after its commissioning and has owned it continuously, without restrictions on rights (mortgages), for at least one year prior to applying for a residence permit.
The total cadastral value (the value of the property as listed in the state register) of such real estate must be at least 25 million rubles (20 million in the Far Eastern Federal District, 50 million in Moscow).

2.   Own company

The investor has registered a company in the Russian Federation, is its sole participant, and has been conducting business activities for at least two years prior to submitting an application for a residence permit. This company must pay taxes in the amount of at least 4 million rubles annually.

3.   Investing in an existing company

The investor has invested at least 30 million rubles in a Russian company. This company must operate in the Russian Federation for three years, and the amount of taxes paid in the last year must be at least 6 million rubles. Investments in shares of public companies are also possible.

4.   Investments in social projects

The investor has invested at least 15 million rubles in socially significant projects in Russian regions (projects related to social services, social support and protection of citizens, health care, and family support) within the three years preceding the application. 

It should be noted that when purchasing shares/stakes in a Russian company, as well as when establishing your own company, possible restrictions should be taken into account—for example, if a foreigner is a citizen of a country that is “unfriendly” to Russia[6].

To obtain a “golden visa,” you must pass a special exam (quite simple!) on knowledge of the Russian language, history, and the basics of Russian legislation[7]. However, we should also note that there are a number of people who are exempt from the exam, including those under the age of 18, men over the age of 65, and women over the age of 60[8]. Persons who have reached the age of 70, as well as persons with disabilities, are exempt from a similar examination when applying for citizenship[9].

Obtaining a residence permit based on investment does not exempt a foreign citizen from the obligation to submit an annual notification to the territorial body of the Ministry of Internal Affairs regarding their residence in the Russian Federation and their income[10].

One of the less obvious advantages of obtaining a residence permit for citizens of “unfriendly” countries is also the possibility to apply for the unfreezing of ‘frozen’ assets, in particular, a type “C” bank account, as provided for by the Bank of Russia's explanations[11].

How can we help 

Avakov Tarasov & Partners is ready to provide services related to obtaining a residence permit under the Golden Visa program. Our team of specialists will take care of all the bureaucratic red tape, ensuring a comfortable and predictable process for you, including:

-       general advice on the procedure for obtaining a residence permit, taking into account the specific circumstances of the client;
-       representing the interests of investors before any government agencies;
-       preparing and submitting the application and supporting documents for obtaining a residence permit;
-       supporting all necessary actions in the process of obtaining a residence permit.