Russian government issues visa criteria for large foreign businesses
Under the new act, according to the Skolkovo Foundation, a partner of Iskander Makhmudov's Transmashholding, employees of large foreign companies must first seek a recommendation from the diplomatic relations department of the Ministry of Economic Development before receiving a five-year visa.
Any foreign entity that receives no less than $920 million in annual income from the selling of goods or services within the Skolkovo region is subject to this criteria, and such companies are expected to invest at least $2.75 million per year in economic development initiatives.
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