Many procedures for obtaining Russian citizenship have been simplified since August 2016.

Amendments to the federal laws "On Citizenship of the Russian Federation" and "On the Legal Status of Foreign Citizens in the Russian Federation," establishing new, simplified standards for obtaining Russian citizenship for successful entrepreneurs and specialists in rare fields, came into effect this Sunday.

The process for obtaining Russian citizenship has become much easier since August 2016. Photo: Sputnik

The law stipulates that a simplified application for Russian citizenship is applicable to foreigners who obtained a professional education degree in the Russian Federation after 2002 and have worked there for at least three years.

The simplified procedure may apply to individual entrepreneurs, after 3 years of doing business in Russia, if the business pays no less than 1 million rubles per year in taxes and contributions to the pension insurance fund.

Investors will be able to obtain citizenship of the Russian Federation if their contribution to the charter capital of Russian companies is not less than 10% over the past three years, the registered capital is not less than 100 million rubles, and the amount of taxes paid and contributions to pension funds is at least 6 million rubles per year.

According to Sputnik