In Russia, a system will be created to assist in the relocation of foreign businesses

Russian authorities plan to introduce a business relocation mechanism for foreign citizens by the end of 2024. This is outlined in the two-year plan for implementing migration policy approved by the Russian government.

The implementation of this task is entrusted to the Ministry of Economic Development, the Ministry of Foreign Affairs, the Ministry of Labor, and other relevant agencies. The deadline for completion is set for December 10, 2024.

The new mechanism aims to facilitate both the relocation of foreign business assets to Russia and the immigration of individuals to the country.

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