Russia’s property market likely to be a new target for mainland Chinese as Moscow eyes its own ‘golden visa’ programme

Moscow says it is considering issuing golden visas, an initiative that would allow naturalisation via economic contribution for the first time in Russia’s history

The scheme is likely to appeal to businessmen, investors and entrepreneurs from mainland China, say analysts

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A clerk wearing a face mask walks in Moscow's International Business Centre (Moskva City) in Moscow. Photo: AFP

Published: 7:30am, 18 May 2021Updated: 7:08pm, 18 May 2021

Russia is looking to join other countries that have rolled out fast-track residency schemes that have boosted foreign investment, a lot of it from mainland Chinese looking for business and property opportunities.

“Golden visa programmes in many countries are made to increase the flow of foreign investment and are working quite successfully,” said Alexander Shatalov, chief executive officer, Savills Russia. “I am sure that such initiatives have good potential for the Russian market as well.”

Moscow has said it is considering issuing golden visas, an initiative that would allow naturalisation via economic contribution for the first time in Russia’s history. The proposal paves the way for successful applicants to work and live in the country.

Although investors residing in complex jurisdictions such as African and Middle Eastern countries are most likely to show interest in the programme, businessmen and entrepreneurs from mainland China might also find it appealing because of the business opportunities in Russia.

“The potential Russian golden visa is likely to be of great interest to investors from mainland China, with both nations already sharing a very good relationship,” said Arthur Sarkisian, managing director at immigration and real estate consultancy Astons.

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