The Russian Golden Visa program was introduced at the start of 2023, offering a formal means of aligning with other nations that provide citizenship in exchange for specific investments. The program is primarily focused on drawing in high-caliber foreign investors to the country. It aims to encourage foreign businesspeople to invest in Russia and gain citizenship in return. Essentially, the program is tailored to appeal to individuals seeking to expand their business operations within Russia while simultaneously securing Russian citizenship.
Investors can participate in the Russian Citizenship by Investment program with a minimum investment of 215,000 USD, which is required for investment in social projects across the country. However, the investment amount can be higher depending on the type of investment made. For instance, investing in real estate within the City of Moscow would require a higher investment amount of 715,000 USD. It is worth noting that real estate investment in other regions of the country such as the Far East and Moscow region is comparably less, requiring only 285,000 USD and 360,000 USD, respectively.
To qualify for this program, investors must meet certain criteria, such as having a minimum net worth of RUB 100 million (approximately $1.3 million) and investing at least RUB 10 million (approximately $135,000) in a Russian business or charity. They must also have a clean criminal record and meet other eligibility requirements.
Once the investment is made, the applicant must go through a rigorous vetting process, which includes background checks and interviews. If the applicant is approved, they will be granted a temporary residence permit, which is valid for three years. After living in Russia for at least one year, the investor may then apply for Russian citizenship. The entire process can take several years, but for those who are committed to investing in the Russian economy and becoming citizens of the country, it can be a worthwhile endeavor.