ANNOUNCEMENT 30 Sep 2014In September 2014, the government of the Russian Federation announced a change for the labour market access of foreign workers.
NUMBER OF INTERVENTIONS
With Decree 994 of 30 September 2014 was introduced a simplified procedure for the obtaining of Russian citizenship by foreign entrepreneurs and investors.
Entrepreneurs are eligible under the new rules if they have operated in Russia for at least 3 years, and if their annual revenue is not less than 10 million Roubles (ca. USD 250'000). Investors must have a share of at least 10% in the authorized capital of a Russian legal entity with a total value of its registered capital and net assets not less than 100 million roubles (ca. USD 2.5 million).
The new migration rules are not applicable for the following activities: repair of motor vehicles and motorcycles, food services, hospitality, real estate, employment and recruitment and advertising.