Finally it happened. Little investment revolution. Russia is approaching European countries with one-foot steps. If you think that this is exactly what we need.
But let's take it in order.
News number one: the Ministry of Economic Development is developing amendments to the law "On the legal status of foreign citizens." I don’t know what is written about Tajik guest workers, because I was immediately fascinated by the position: “Foreign entrepreneurs can get a residence permit in Russia after buying a property.” This is clearly not Kazakhstan? And yes, that was news number two.
That is, before such a norm they did not even ponder and did not provide. Because they are used to the fact that it was Russian businessmen who, with all the fibers of their suitcase, were eager to get a residence permit of some European country, there’s something about a “reserve airfield”.
In fact, Russians usually have exotic ideas about residence permits, rather simplified, and only a clash with the specific practice of each individual country slightly lands a flight of their fantasies.
To be honest, I do not remember a single country that would give out a residence permit upon the purchase of real estate to ordinary citizens of other countries. Moreover, in some countries the purchase of real estate is rather an aggravating circumstance when applying for a residence permit according to other indications: “Are you so handsome buying up our motherland?” This is a philosophy that is close to the way of thinking of the Germans, by the way.
And in general, nobody really expects “ordinary” citizens. Everyone is eager for investment, and therefore, businessmen. And so that this businessman does not try to cut the bones in his new homeland, he is immediately given the lower threshold of real estate costs, as well as to contribute to the economy. Moreover, the more a country considers itself, the naturally higher the threshold. In Portugal, of course, it is possible not for businessmen, but then this is the Golden Visa program and it starts with half a million euros. I bought a shack for half a lemon - welcome. Mostly Chinese and very few Russians complain. As far as I recall, there is less to Britain than a million, just don’t come. There are intermediate options - in Spain, Greece, and Malta.
But one way or another it revolves around € 200-500 thousand in the case of real estate purchase. And of course, countries need entrepreneurs, as everyone relies not only on money here and now, but even on creating jobs for local people. There are also very cunning countries that, after a campaign to raise funds in exchange for a residence permit, inadvertently change the conditions of the game - and now you have to pay € 5 thousand for a family of five people for renewal of a residence permit. Some former Soviet republics sin this, but what to take from them - you simply can’t contact them.
Now Russia can join the family of countries with investment and visa expectations. What does the Ministry of Economy expect from this scheme? “Stimulating the influx and simplifying the access of foreign investors is necessary in the face of increased competition with developed foreign countries for investors, contributing to the accelerated technological renewal and development of the Russian economy,” the press service of the department said.
True, so far the department’s plans do not specify exactly what quality real estate should be - just housing or some kind of commercial real estate.
By the way, about real estate. As part of our Economic Development Plan’s plan, I’m thinking about the fate of Hong Kong citizen Chiu King-yan, who won a tender for the construction and operation of a casino and hotel complex near Vladivostok. Is he already entitled to a residence permit in Russia or can he already apply for citizenship? I would immediately give him citizenship, because one of his offices now owns a whole range of iconic cigar brands - from Cohiba to Montecristo with Romeo y Julieta. After all, everyone will be pleased to realize that now these are almost Russian cigars. Firstly, it’s beautiful - casinos, cigars, all that is lacking is whiskey and a Thompson submachine gun. Las Vegas with a view of the nuclear missile carriers.
But in general, of course, I’m trying to present a general profile of investors, applicants, and so far only representatives of developing Asian markets come to mind. Although usually in those places where at least a little smell of money or deforestation, these citizens do not even need to be lured - they are right there.
So it will be interesting. And yes, no matter how you look, the plans of the ministry are quite progressive.
The author’s point of view may not coincide with the position of the publisher.