Russia’s economy has been booming in recent years driven in large part by a lucrative and expanding energy sector. Many expats have been drawn to the country for this reason but the fabled Russian red tape has been a major downside for expats living in Moscow and the rest of Russia and a serious disincentive for skilled workers to move there.
However, there have been recent moves by the Russian authorities to attract expats and in particular wealthy investors and individuals who might be searching for a suitable offshore destination in which to base themselves.
Last month immigration rules were relaxed with a special investment visitor visa valid for 5 years giving one more entry point for relevant individuals.
Less wealthy potential expats are also being catered for by the Russian government with the Federal Migration Service converting the current temporary residency which runs for 3 years into the first step towards a 5 year permanent residency visa.
A spokesman for the Federal migration Service said, “The changes are being introduced to help meet Russia’s skilled migration and foreign labour needs.
“Those businesses which are looking at undertaking assignments in Russia should also prepare for further changes as further new immigration laws will be introduced.”