, Russia has offered to give a residence permit for real estate purchase

© RIA Novosti / Alexey kudenko / residence permit of a foreign citizen

the residence permit of a foreign citizen. Archival photo
The Ministry of economic development has prepared a bill according to which foreign entrepreneurs can obtain a residence permit in Russia after the purchase of real estate. This is reported «news».
The newspaper learned that the Ministry is working on amendments to the law «On legal status of foreign citizens».

"inflows and facilitate the access of foreign investors is required in conditions of increasing competition with other developed countries for investors, contributing to a rapid technological modernisation and development of the Russian economy", — noted in a press-Department service.

In addition, the status of permanent residence in Russia will give foreigners an opportunity to be more involved in economic and social life of the country, which will increase the development potential of the business climate.
What kind of housing — commercial or private — investor must purchase to obtain a residence permit does not specify these criteria should be set by the government. The Agency, as noted, does not expect a surge of demand for the Russian citizenship among foreigners.
If the bill is adopted, the rules will take effect in July next year.
In April the President of Russia Vladimir Putin signed the law on simplification of obtaining Russian citizenship. Now, to become a citizen of Russia is not necessary to renounce the citizenship of another country. In addition, for born in USSR and lived in its former republics, but have not received citizenship, removed the requirement to stay in Russia for three years before filing and confirmation of a legitimate source of income.