Due to the deteriorating political situation, new sanctions are being imposed, including those related to immigration policy. For example, some countries no longer have immigration programs for investment contributions for Russians. Let’s look at where else you can get a residence permit for investment.
How does investment immigration work?
Citizenship by investment is a simplified option, with the help of which you can get a full-fledged identity card of another country without having previously lived in it for a long time.
The bottom line is as follows: a person invests in the economy of the region and for this he is given a passport, or a permanent residence permit (permanent residence), and a residence permit.
The procedure usually pursues one of the goals:
- visa-free visit to other territories;
- make it possible to receive foreign education;
- have access to high-tech healthcare and medicines;
- choose permanent and temporary residence (if climatic conditions are important);
- change the standard of living and social security;
- change the tax regime and business climate for the company;
- distribute their assets according to the standard of other legal systems (for example, transfer to management in trusts);
- protect their rights and freedoms;
- find economic stability.
Residence permits in exchange for investments are offered by more than 40 states. The main competition among them is that the document gives the investor more opportunities related to visa-free travel around the world. Japan and Singapore are considered the leaders, because the owners of their documents have free entry to 192 countries. Followed by Germany and South Korea – they can visit 190 regions. As of 5.05.22, the Russian document was on the 49th place in this list with the theoretical possibility of visa-free visits to 117 states. Now many have closed the airspace, and it is no longer possible to visit the regions without visas.
10% of programs continue to operate for Russian citizens. Previously, offers from Montenegro, Malta, as well as Caribbean territories were more popular. From their list for May of this year, only Montenegro and Grenada are available.
Investors are trying to solve difficulties by breaking up relocation. Turkey is now the main destination that allows you to keep the company’s assets and get another passport.
Also in 2022, Russian citizens can obtain a residence permit for investments in Bulgaria, Cyprus, Montenegro, Serbia. And then, with him to participate in programs that are not available to Russians. This is a long process, but a working one.
Requirements for those wishing to obtain the status:
- Availability of investment capital from 130 thousand dollars. The investor must confirm that he has a source of income and cash reserves for life. In addition, you need to pay fees and support by an immigration lawyer. In the Caribbean, for example, participation in state programs is allowed only for applicants-clients of companies accredited in the territory of the state. This is how organizations check the cleanliness of the applicant, or, in another way, Due Diligence (with verification of data and biography, verification of the origin of money).
- Confirmation of the source of capital. The check includes two stages: clarification and rechecking by an immigration organization, and after that – by authorized state bodies.
- The applicant’s compliance with the requirements of the state is the absence of a criminal record, links with criminal and corrupt actions. They also check for the presence of personal sanctions against the applicant – they should not be.
The programs are valid both for one person and for an applicant with a family. The prices discussed below are designed for one person. The contribution will increase depending on the number of applicants by 30-60%.
In Turkey, you can get documents if you purchase real estate or place a deposit in a bank. The minimum investment is from $ 400,000, it is possible to get it in six months. As a result, you can::
- live in Turkey;
- open an account;
- do business;
- take part in investment projects that are currently unavailable to citizens of Russia and Belarus.
You can get permanent residence in Cyprus if you buy real estate, a share in a company or a private investment fund, for example, AIF. Contribution – from 300 thousand euros, receipt – after 3 months from the date of submission. Those who have the status of a legal resident do not necessarily have to be permanently in Cyprus – it is enough to come once every 2 years. The Republic plans to enter the Schengen area in the future, so if you have permanent residence, you will be able to move freely across 26 EU regions. You can also have two citizenship in Cyprus. The application can be submitted after 7 years of permanent residence.
In Montenegro, the main condition is a charitable contribution to the state fund or the purchase of real estate, which will be approved by the government (for 250-450 thousand euros – depending on the location).
With a Montenegrin document, you can enter 123 republics without a visa. The program runs until 31.12.22. Investments – 450 000 €. You can get it in six months from the date of submission.
In Serbia, they get a residence permit if they buy real estate or register a company. This gives the right to live in the republic, open a business and a bank account. Entrepreneurs will have access to duty-free trade and customs agreements with the EU, Russia, Turkey and others.
If there is no fee for the purchase of real estate, then the minimum costs for the creation of a company are from 5,000 euros per year. The duration of receipt is at least 50 days.
In the Emirates, a document is issued to foreign citizens in 2 ways:
- For real estate, the cost of which is from 750 thousand dirhams. The 1st visa is for 3 years with the possibility of extension, provided that the object remains in the property.
- For monetary investments. The duration of the “golden visa” depends on the amount: 5 million dirhams – 5 years, 10 million – 10 years. There is also a multiple extension, but it does not give the right to citizenship.
- tax optimization;
- account opening;
- accommodation and work;
- doing business;
- training and treatment.
Participation in the Grenada investment program is the right to obtain a Caribbean passport with visa–free access to 144 countries and with the possibility of moving to the United States on an investor visa in 4 months. This is possible through the purchase of property or a charitable donation to the foundation. The fee is $150,000.
With a passport of a small Pacific Vanuatu, 100 republics are open. The program brings about 40% of GDP. The funds are used to repay foreign debt, solve social issues, eliminate the consequences of natural disasters.
Investments – $ 130,000, receipt – in a month.
In Spain there are several options for registration:
- Buy a property from 500 000 €. The condition is a contribution from personal funds, without a loan.
- Invest a substantial monetary contribution to the economy – from 1 million euros. For example, the acquisition of shares in funds or companies, the opening of deposits.
In two cases, a couple of months later, together with the applicant, his family members receive the status. In the future, they can live and work, travel visa–free in the EU, and after 5 years – apply for permanent residence and asset sale.
A residence permit is issued for 2 years with a further extension for 5 years an unlimited number of times. The main thing is to keep the foundation. Permanent residence is issued after 5 years, and citizenship – after 10. Dual citizenship is not valid in Spain.
An Italian visa gives a 2-year residence permit and free movement in the Schengen area. The condition is to invest in the Italian economy from 250 thousand to 2 million euros. Investment options are being considered:
- to a startup;
- to local limited liability companies;
- government bonds;
The main requirement is the preservation of capital for at least 2 years – during this period it is impossible to change the initial investment portfolio.
The “cost” of a Saint Lucia passport is from $100,000. There are 4 investment options:
- non-refundable contribution to the state fund;
- purchase of real estate;
- purchase of bonds;
- investments in business or government projects.
In many cases, in addition to donations, the money is returned after 5-7 years.
The authorities stated that they no longer cooperate with banks and companies that have been sanctioned by the UN or OECD partners. At the same time, there was no official closing of the application process.
Difficulties that Russians may face when obtaining a residence permit for investments:
- reduction of the choice of countries with investment programs;
- adaptation in a new jurisdiction: to life and the tax system;
- stricter Due Diligence and investment process;
- lack of opportunity in many countries to open a checking account (the operation is available in a bank of countries friendly to Russia);
- restrictions on the amount of transfers.