The Board of the Ministry of Economy approved by Resolution No. 31 of 29 December 2023, Amounts of Paid-in Capital of Entity Listed in Sub-Sections 45.1.6-1 and 52.1.10 of Migration Code to Obtain (Prolong) Temporary or Permanent Residence Permit and of Turnover of Persons Listed in Limb 2 of "Note" to Section 45 and Sub-Sections 52.1.10 and 52.1.11 of That Code. The Resolution is effective 16 January 2024.
Sub-Section 45.1.6-1 of the Migration Code grants a temporary residence permit (TRP) to a head of a foreign-invested local enterprise with an equity capital exceeding the threshold that the Resolution sets at ₼50,000.00. Limb 2 of the Note to Section 45 of the Code requires that entities employing the head have the turnover that the Resolution sets at ₼100,000.00. Permanent RPs require twice these amounts.
The Resolution provides for similar requirements for TRPs of foreign and stateless sole proprietors.
The Management Board of the Central Bank issued on 10 January 2024 under Resolution No. 01/2, Regulations of Arranging and Running Operations by Payment Institutions and E-Money Institutions, effective 23 January. The Regulations are issued under Law No. 987-VIQ, On Payment Services and Payment Systems (Sub-Sections 3.2.9, 4.2, 5.1.1, 5.1.2, 7.1.1, 10.1, 49.2.11, 49.3, 59.2.3, 62.3.1, and 62.4 of it) and establish, among others, minimal capital requirements for the institutions.
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