Similar to UAE, Russia has also launched a Golden Visa programme in January 2023 in a bid to woo foreign investors to the country via the residency initiative. This permit is also being offered to Indians.
The programme’s features are very much similar to the draft proposed early last year. Foreigners ploughing in 30 million rubles or more in real estate, government bonds or businesses will get a residence permit in Russia within 6 months duration. Those investing the money will be allowed to not only bring their immediate family members but also grandparents, grandchildren, stepchildren, daughter-in-law, son-in-law etc.
With regard to Dollar, the Russian currency has become very expensive since last year. In today’s times, the 30 million rubles come to US$ 5,15,000 as it is a well-performing currency right now. As per reports, there might be certain flexibility offered in terms of investment in certain arenas as well.
The Russian Golden Visa initiative can be extremely useful for Indians who wish to come to Russia and live permanently, and Indian investors looking to reap all the investment dividends available to Russian citizens devoid of permanent residence. Also, it looks as if Indians are given priority through this scheme. The Golden Visa scheme is there in several countries across the globe and the majority of them are intended to attract investment.
At present, the stock market and real estate sectors are significant investment opportunities in Russia. Previously, certain popular methods to acquire permanent residency in Russia happened to be: getting married to a Russian woman/man, having a Russian child, getting a diploma or degree from a Russian university and getting a job.