A new Russian Golden Visa program was launched in January 2023 in an attempt by the Russian Government. This residency program is offered to Indians as an incentive to attract foreign investors to Russia.
A. Timur Beslangurov, Managing Partner of Vista Immigration ET’s Dipanjan Roy Chaudhury spoke with the company that will facilitate the Russian Golden Visa program. Russian residency can be beneficial to Indian investors who wish to move to the country as well as people who are interested in investing but do not necessarily reside in the country, but benefit from investment income.
Can you explain Russian Golden visa scheme for Indians & what are advantages associated with it
The Russian Golden Visa program was launched in January 2023 this is an attempt by the Russian Government to use the residency program to attract foreign investors to Russia. It is not a secret that numerous nations have programs that are comparable to this one, each of which has its own set of advantages and disadvantages. Instead of comparing the different programs that are available, we will focus on the Russian program.
Before the new Golden Visa program, Russian immigration law allowed foreigners to apply for permanent residency on several grounds: quota (very hard to get because there aren’t many quotas), marriage to a Russian, having a Russian child, graduating with a diploma from a Russian university, and employment. for a person who has his own family and is not yet old enough to become a student it was quite In Russia, getting a residency was very difficult the new Golden visa program is very beneficial For India.
- India and Russia have a long history of friendly relations that grew even stronger after international sanctions were imposed on Russia.
- The Golden Visa program offers more than just active investments like starting a business in Russia. but also passive investments, which have the potential to provide high returns on investments, such as investments in Russia stock market (which has lost half of its value from 24th February 2022)
& real estate. - The Investor is not the only person who receives a lifetime residency under the Golden visa program but the members of his or her family, including the person’s spouse, children, parents, and grandchildren.
- The Golden visa program does not require a residence in Russia to maintain residency.
What are categories of Indians that are being targeted under this scheme
We think that Indian investors could benefit from the Russian Golden visa program would like to migrate to Russia and Settle there and those who are interested in investing but do not necessarily live in Russia but profit from the potential earnings from investments.
The investment amount starts at 215,000 USD for social projects in Russia, and increases to 715 000 USD for the investment in Moscow City into real estate However, the Far East region only costs 285,000 USD to invest in real estate, while Moscow costs 360.000 USD Therefore, we are discussing Indian investors from the middle to upper classes.
Are Indian investors only target at this stage under the scheme
The plan isn’t just for Indian investors. Other people can benefit from it. Under this program, investors can come from any country. However, investors from Western nations who are naturally restricted by sanctions and will encounter more difficulties in putting this program into practice for the time being.
The fact that Chinese investors exist is well-known are utilizing the residency and citizenship investment programs the most frequently in the world However, experts and analysts predict that Indian investors will take the lead in the next three to five years.
How does this scheme help Indian investors for smooth profit repatriation back to India
The Russian Golden Visa scheme allows Indian investors to legally invest in Russia, which can help facilitate the smooth repatriation of profits back to India. This can be done through various channels, including:
- Transfer of profits to an Indian bank account via international wire transfer
- Conversion of Russian rubles to Indian rupees through authorized currency exchange services
- Investment in liquid financial instruments such as stocks, bonds, and mutual funds that can be easily sold and repatriated.
It is important to note that repatriation of profits is subject to Russian and Indian laws and regulations, including taxes and exchange control regulations. Indian investors should seek professional advice and comply with all relevant rules and regulations to ensure a smooth profit repatriation process.
How does this scheme help Indian investors for smooth profit repatriation back to India
It is not explicitly stated that the Russian Golden Visa scheme is only offered to Indians who can contribute to the growth of India-Russia ties. The scheme is open to any foreign national who meets the investment criteria, regardless of their ability to contribute to the growth of bilateral relations between the two countries.
However, fostering strong economic and cultural ties between India and Russia can benefit both nations, and the Russian government may be more inclined to support and facilitate investment initiatives that align with this objective. Indian investors who can demonstrate a clear and tangible benefit to Russia, such as the creation of jobs in Russia, investment in infrastructure, or the transfer of technology, may be more likely to receive favorable treatment and support from the Russian government.
Would this visa create challenges Indians for travelling in west
Having a Russian residency permit, also known as a Golden Visa, may not necessarily create challenges for Indians traveling to the West. However, it is important to note that visa requirements and restrictions for travel to different countries vary and can change frequently.
In general, holding a Russian residency permit does not guarantee visa-free or visa-on-arrival access to other countries. Travelers may still need to apply for a separate visa, depending on their destination and the length of their stay. Some countries, such as the United States, may also have additional security or background checks for travelers who have a Russian residency permit.
Therefore, it is recommended that Indian travelers with a Russian Golden Visa check the visa requirements for their intended destination before traveling to ensure a smooth and hassle-free trip.
More Information To Fill Our Free Visa Assessment Form
