The mayor proposed introducing benefits for foreigners moving to Russia

The Ministry of Economic Development proposes to introduce benefits and remove restrictions on financial transactions for foreigners who have moved to Russia, said Deputy Minister of Economic Development Dmitry Volvach during SPIEF 2023.

The department proposed introducing «convenient mechanisms for relocation», so that those who have moved to Russia would receive «tax and customs benefits». It also offers the «removal of restrictions on financial transactions through the provision of resident status», courses in studying the Russian language, consultations on the enforcement of Russian legislation, and consular support. In addition, the deputy minister pointed out the need to provide «access to a single information website with the ability to fill out a program participant questionnaire».

Volvach noted the importance of creating conditions for foreign citizens to move to Russia. He believes that the compatriots’ program in its current form does not fully «meet the demand». In particular he noted that not all foreigners who «share and support the values and culture of Russia», have the opportunity to use this program due to the «lack of family roots», TASS reports.

According to the Ministry of Economic Development, about 45 thousand «foreigners from unfriendly countries», are ready to move to Russia. Approximately 70% of these are residents of European countries, while another 25% are residents of the USA, Canada and Australia.

Meanwhile, the Russian Ministry of Labor approved a list of professions to be considered outside the quota for work permits for foreign citizens with a visa in 2023. In particular, we are talking about medical workers with higher and secondary education, professionals from agriculture, nuclear energy, aircraft construction, mining and metallurgy, construction, RIA «Novosti» reports.

The list also includes cultural workers, software developers, railway transport workers, journalists and literary workers, choreographers, industrial engineers and designers.

Keep in mind that Deputy Minister of Finance Alexey Sazanov said at SPIEF that Russia refused to increase the personal income tax for Russians who have relocated to a country outside of Russia to 30%. He explained that the introduction of an increased tax for relocators who have lost their tax residency will lead to Russian employers creating branches abroad and employing local staff. This will contribute to the Russian budget losing both personal income tax and insurance premiums.