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Moldova will reduce foreign investors’ minimum investment from 60 to 30 average monthly salaries in the economy and take other measures to improve the investment climate in the country.

Moldova will reduce foreign investors’ minimum investment from 60 to 30 average monthly salaries in the economy and take other measures to improve the investment climate in the country.

This is provided for by the relevant amendments to the Law on the regime of foreigners, which the parliament adopted earlier in the first reading on the initiative of MP Dumitru Alaiba. The Commission on National Security, Defense and Public Order at a meeting on Wednesday recommended that the bill be adopted in the second reading. In particular, the matter concerns amending the article of the Law on the regime of foreigners, concerning the granting and extension of the right to temporary residence to partners or shareholders of legal entities with foreign investments registered in Moldova. The current version of the law stipulates that the right to temporary residence is granted to a foreigner who has made investments in accordance with the Law on Investments in Entrepreneurship, who is a partner or shareholder of a legal entity of Moldova, subject to one of the following general conditions: ownership, directly or indirectly, of a share or several shares of participation and / or shares in a legal entity of Moldova with a total value equal to at least one share in a legal entity, which is equivalent to at least 60 forecasted average monthly salaries in the economy; creation by the legal entity, whose shareholder or partner is the foreign investor, of at least 4 jobs with normal working hours and with a salary equivalent to the projected average monthly salary in the economy for the reporting year. At the same time, the amendments provide for the reduction in these conditions of the minimum number of jobs created by a foreign investor from 4 to 1, and the minimum investment - from 60 to 30 average monthly wages. As the author of the bill noted, the changes are aimed at improving the investment climate in the country, attracting new foreign direct investment, creating new jobs and increasing budget revenues. // 27.01.2021 - InfoMarket.

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