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Medvedev Signs Off Visa Benefits for Skolkovo and MIFC

30.10.2013 09:05 / Interfax

Russian Prime Minister Dmitry Medvedev has signed a decree on 5-year visas for employees of foreign companies taking part in Skolkovo and Moscow International Financial Center projects.

The document was published on the Russian Government website on Wednesday.

“Today, Russian consulates grant over 300 thousand ordinary multiple-entrance business visas per year. There is no ranking of applicants. To simplify the visa regime for major foreign investors and companies involved in Skolkovo and MIFC, the term of an ordinary business visa is prolonged to five years upon request from the Ministry for Economic Development”, states the decree.

The document lists criteria for companies that are entitled to five-year business visa requests from the Ministry for Economic Development. Criteria for investors are based on the need for head office approval.

“IFRS consolidated reporting benchmarks have been identified, maximum limits defined by international ratings (Forbes, Fortune), according to which a minimum of 400 companies qualify as “major foreign investor”, states the document.

Project Group №5