Russia's migration service and economy ministry have proposed to award foreign investors who have contributed 10 million rubles (around $287,000 dollars) and more to the country's economy with Russian citizenship. The same goes to graduates of Russian universities and colleges with a work experience in Russia of at least three years.
Russia's acclaimed economy newspaper Kommersant says the bill could create a population influx totaling millions of new citizens. The initiative has already been passed in the administration and will soon be up for parliamentary hearings.
The legislature draws its ideas from European experience of loosening regulations for foreigners who wish to attain EU citizenship.
If adopted, the draft law will allow individual entrepreneurs to get Russian citizenship after working in Russia no less than three years. The income threshold will be set at 3 million dollars annually. Waivers will also be given to foreigners who own 10 percent of a Russian company with an authorized capital of 100 million rubles (around 30 million dollars).
However, the draft law does not include any preferences for the applicant’s family members, the paper adds.
Voice of Russia, Kommersant
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