Support The Moscow Times!

Russia Promises Foreigners Citizenship If They Invest $10M in the Far East

Ksenus / Pixabay

The Russian government is offering simplified Russian citizenship in exchange for a $10-million investment in the Far East.

Moscow has been seeking to boost the social and economic development of the Far East, including through a 2015 law establishing a broad set of incentives for companies operating there.

During his visit to Vladivostok this month, President Vladimir Putin ordered ministers to attract investment to the region.

The latest draft law from the Ministry for the Development of the Russian Far East strikes down residence and language requirements, as well as the need for aspiring Russians to renounce their current citizenship, the Vedomosti business daily reported Thursday.

Candidates are allowed to pick any Far East investment scheme as long as they complete it within two years of applying for citizenship. After being granted Russian citizenship, the investor is required to retain ownership of his or her asset for at least three years.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more