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This week’s news. Financial transactions, residence permit, real estate transactions

This week’s news. Financial transactions, residence permit, real estate transactions

6 April 2022


The Central Bank has introduced new thresholds for maximum amounts for money transfers abroad for individuals

• Residents of the Russian Federation can transfer no more than $10,000 from their account in a Russian bank to their foreign account or to another individual abroad.

• Through companies providing money transfer services without opening an account, no more than $5,000 can be transferred per month.

Transfers are possible not only in USD, but also in the equivalent in other currency. The specified amounts can be transferred within a calendar month, the regulator reports.

The norms apply to residents of the Russian Federation, non-residents from countries not included in the unfriendly list, as well as to non-residents from all states working in Russia under labor or civil law contracts.

At the same time, transfers abroad from bank accounts of non-residents (individuals and legal entities) not working in Russia, from unfriendly states have been suspended for 6 months.

Earlier, the maximum amount of a foreign transfer to another individual was $5,000. It was possible to transfer money to their foreign accounts only to finance the current activities of branches.

Transactions with foreign real estate can be carried out

According to the decision of the subcommittee of the Government Commission for Monitoring the Implementation of Foreign Investments:

• It is allowed to buy foreign real estate from individuals from unfriendly countries (for example, from citizens of EU countries or the USA) only if money is credited to an account of type “C”. The regulations for the use of the special account “C” are listed on the website of the Central Bank.

• When buying real estate from a legal entity (developer) from an unfriendly country, permission from a government commission is required.

• When purchasing real estate from a legal entity from a country that is not on the unfriendly list (UAE, Turkey, CIS countries), you need to prove that the participant / shareholder / UBO does not belong to unfriendly countries when making a payment in a bank.

Current news. Investment citizenship and residence permit 

Montenegro accepts applications for citizenship for investments from Russians

Montenegro has resumed accepting applications for investment citizenship from Russians. This is reported by local accredited agents.

Citizenship of Montenegro can be obtained for investment: 

• €250,000 — investments in government—approved projects in the north of the country OR €450,000 — investments in government-approved projects in the south of the country and in the capital – Podgorica 

• €100,000 — grants to the state

• €100,000 — grants to innovation funds

France has resumed issuing visas for Russians

From April 1, France has resumed issuing all types of visas for Russians, including tourist ones.

At the same time, Russia is included in the list of countries with high epidemiological risks, so to travel to France, you will need a certificate of vaccination with a vaccine recognized in the EU, or a good reason for the trip. 

There are no direct flights from Russia to France at the moment, you can get there with a transfer in Turkey, the UAE, Qatar or Serbia.

Italy has introduced visas for “digital nomads” 

On March 28, the Italian government approved a law on the introduction of a “digital nomad visa”. The visa will allow non-residents of Italy to legally reside in the country for a year with the possibility of further extension.

The text of the bill clarifies that the visa will apply to those “who carry out highly qualified work activities using technological tools that allow them to work remotely, autonomously or in a company that is not resident in the territory of the Italian state.”

We remind you that Italy also has a residence permit program based on financial independence.

Today we offer our clients the following programs of investment citizenship and residency:

Citizenship of Montenegro, citizenship of Vanuatu, citizenship and residence permit of Turkey, permanent residence of Canada, permanent residence of Cyprus, visa EB-5 USA (Green Card), residence permit of Georgia, residence permit of Serbia, residence permit of Spain, residence permit of Italy, residence permit of France, residence permit of Austria, residence permit Dubai and Thailand investment visa.

To learn more about current programs and get a special discount of 15%, leave a request for a free consultation, and we will contact you as soon as possible.

6 April 2022
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