Global Trade Alert

On 17 June 2014, the State Duma, the Lower House of the Russian Parliament, adopted in third reading bill number 464776-6,concerning a simplified procedure for obtaining of Russian citizenship by certain categories of foreigners.
Concretely, foreign citizens and stateless persons who are:

• qualified professionals working in Russia for more than three years, as well as graduates from Russian educational institutions of vocational education (graduated after 1 July 2002), who have been working in the Russian Federation for not less than three years;
• individual entrepreneurs, operating in the Russian Federation for at least three years, with annual revenues of at least 10 million rubles;
• investors with stakes of at least 10% in Russian legal entity carrying out activities on the territory of the Russian Federation who have an annual turnover of at least 100 million rubles. 
• investors are also eligible if their tax payments to the budget constitute not less than 6 million rubles.

In case of approval of the law by the Federation Council and if also signed by the President of the Russian Federation, the mentioned citizens residing in Russia will be able to apply for Russian citizenship in a simplified manner.