The Government has approved the Regulation on the Assessment of Foreign Investors when issuing a residence permit.

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The Cabinet of Ministers approved the regulation on the assessment of compliance with the criteria for issuing a residence permit (residence permit) to foreign investors in a simplified manner. The Ministry of Economic Development has the appropriate powers.

In December last year, the Government approved criteria for recognizing foreigners as investors for the purpose of obtaining a residence permit. These include investments of up to 15 million rubles in socially significant projects in the regions of Russia or investments of up to 30 million rubles in domestic enterprises. Another criterion is the registration in Russia of a business partnership, LLC, individual entrepreneur, farm, or business partnership. Another criterion is the acquisition on the territory of the Russian Federation of any target-purpose real estate object at the construction stage or within two years after commissioning.

In addition, a list of relevant documents and information must be submitted to confirm compliance with each criterion. Investments in Russian companies are confirmed by extracts from the Unified Register of Legal Entities, documents on the actual expenses of the investor, official documents of the legal entity confirming the investment, as well as data on taxes and contributions of the company.

Considering the consideration of this proposal, as well as the undeniable convenience of this procedure, it can be argued that this provision is promising in the framework of long-term development.