There’s been a lot of questions regarding the impact of these sanctions on Russia’s economy as several technology giants put Russia on their blacklist.
Russia’s president, Vladimir Putin, has implemented a new Degree which could be seen as a way to enable and empower current technology companies and new startup companies to emerge and possibly build alternative technology for the country.
The measures by the Russian government to ensure the accelerated development of the information technology industry in the Russian Federation was passed as a law on 2nd March 2022 by President Putin, and the following is picked out and translated to English as follows:
a) to ensure the allocation of annual budget allocations from the federal budget for grant support for promising developments of domestic solutions in the field of information technology;
b) provide for the allocation of financial resources to accredited organizations operating in the field of information technology (hereinafter referred to as accredited organizations) to improve the living conditions of employees of these organizations and ensure an increase in their wages, as well as determine the categories of employees to improve housing terms of which funds will be allocated;
c) ensure the provision of preferential loans at a rate not exceeding 3 percent to ensure the current activities of accredited organizations and the resolution of new projects;
d) take measures aimed at: to establish until December 31, 2024 for accredited organizations a tax rate for corporate income tax in the amount of 0 percent; to simplify the procedures for employment of foreign citizens involved in work in accredited organizations, and for these citizens to obtain a residence permit.
What does this mean for you as a foreign talent or citizen?
New immigration laws will possibly be drafted to allow and adjust how companies will hire foreign nationals. Also, foreign citizen could also get resident permit if they work in the field of Information Technology when seeking to relocate or move to Russia at the Russian embassies in your foreign country.
If you are skilled in information technology and work in roles in and as, e.g: a Cloud Computing Engineer, a Computer Support Specialist, an Information Technology Analyst, a Software/Application Developer, a Web Developer, Information Technology Leadership etc, Russia could be your new home.