RUSSIA WILL OFFER A RESIDENCE PERMIT FOR A HOUSING PURCHASE

The Ministry of Economic Development plans to attract foreign entrepreneurs by issuing a Russian residence permit in case of buying a real estate. It is assumed that the innovations may begin to operate in June 2021.

According to “Izvestia” newspaper, foreign businessmen should enthusiastically welcome this initiative. Many European countries offer a residence permit for purchasing the housing, and therefore, if the draft law is adopted, Russia will be able to become a full-fledged participant in the competition. The fact is that a residence permit allows businessmen to have maximum involvement in the economic and social life of the country.

What kind of real estate the investors will have to buy to get a residence permit, is still unknown. To develop an initiative, the Ministry of Economic Development will study the experience of other countries in order to choose the most optimal option for Russia.

The ministry does not expect that after the adoption of the law, foreign entrepreneurs will surge into the country. However, the very possibility of living should positively influence the business sphere.

It is assumed that in order to obtain a residence permit it will be necessary not only to buy real estate in the Russian Federation, but also to pass a test on the legality of the capital earned. We should note that in 2019, investments in the Russian economy grew by 50% - the experts attribute this to the adaptation to sanctions. Foreign businessmen are no longer afraid to invest, at least were not afraid to.