Many procedures to become Russian citizens are simpler from 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 businessmen and rare specialized specialists, come into force from this Sunday.

Obtaining Russian citizenship has been made easier since August 2016. Photo: Sputnik

The law stipulates that the application for Russian citizenship under a simplified procedure is available to foreigners who received professional education after 2002 in the Russian Federation and worked here for at least 3 years.

Apply for simplified procedure can be individual entrepreneurs, after 3 years of doing business in Russia, if the enterprise pays taxes and contributes to the pension insurance fund not less than 1 million rubles/year.

Investors will be able to receive citizenship of the Russian Federation, if their contribution to the charter capital of Russian companies is not less than 10% over the past 3 years, the statutory capital is not less than 100 million rubles, the amount of taxes paid and contributions to pension funds is at least 6 million rubles/year.

According to Sputnik