News digest for relocating expats

Argentina: Turkish Airlines is turning Russian nationals away at the gate

Numerous travellers report that Russian citizens are being denied boarding on Turkish Airlines flights. The effective ban on the Russian passport applies not only to Argentina but to other Latin American destinations as well. For now, Russian nationals are advised against flying with the carrier.

Hong Kong: the investor residency scheme is back

In 2024, Hong Kong has relaunched its programme granting residency through investment, a scheme that had been suspended since 2015. The minimum investment is expected to be around 700,000 US dollars.

Armenia: local banks stop servicing Mir cards

Armenian banks have decided to stop servicing Russian Mir cards from 30 March, citing the risk of falling under US sanctions. VTB Armenia will continue to work with Mir cards.

UAE: Emirates NBD halts rouble transfers and closes Russian accounts

Emirates NBD, one of the UAE's largest banks, has stopped accepting transfers in roubles, closed the accounts of Russian clients and shut down the division dedicated to serving the Russian market. The broad retreat of major foreign banks from Russian clientele stems from the threat of US sanctions.

China: ten Chinese banks stop accepting payments from Russia

Chinese banks have stopped accepting yuan payments from Russia and have begun returning transactions to clients, amid concerns over secondary US sanctions.

Taiwan: changes to immigration policy

The Taiwanese government has adopted a series of key changes to its immigration policy. Among them:

• permission to extend visitor visas;
• more days for foreign nationals to notify the authorities of a change of address;
• a longer window, counted from the date of entry, in which foreign nationals must apply for an alien resident certificate;
• extended validity for certain entry bans.

Egypt: direct flights between Kaliningrad and Egypt resume on 7 April

Direct air service between Kaliningrad and Egypt resumes on 7 April.

Hong Kong: how the investor programme works in 2026

The issue above put the expected threshold at around $700,000. The real programme turned out to be far more expensive: the investment requirements are set in Hong Kong dollars and are shown below in US dollars.

Cash, bank deposits, insurance policies and loans do not count. Since 1 March 2025 investments through a Hong Kong company wholly owned by the applicant, such as a family office, also count. After the assets are checked, a visa of up to 180 days is issued to make the investment, then a residence permit of up to 24 months, renewable for up to 3 years while the investment is maintained. Details are on the page about Hong Kong residency by investment.

Taxes for an investor in Hong Kong

Hong Kong residency is attractive not only for entry but also for taxes. Only Hong Kong-source income is taxed: dividends, capital gains and inheritances are not taxed, and there is no VAT. Salaries are taxed on a 2-17% scale, capped at 15% of income. Companies pay 8.25% on the first 2 million Hong Kong dollars of profit and 16.5% above that. Income from foreign investments that is not connected with work or business in Hong Kong usually stays outside tax, but disputes with the tax authority almost always revolve around where the income arose. More on the page about taxes in Hong Kong.

Entry to Europe for Russian citizens in 2026

• Single-entry Schengen visas. Since 7 November 2025, Russian citizens living in Russia receive a single-entry visa by default. Multiple-entry visas remain for close relatives of EU citizens and of Russians legally living in the EU, transport workers and those who prove a need to travel frequently. National visas for study, work and relocation are not affected.
• Electronic entry and exit records. The system began a phased roll-out at the external Schengen borders on 12 October 2025 and has been fully operational since 10 April 2026. Instead of passport stamps, a facial image and fingerprints are taken at first entry, and the system counts the 90 days in 180 automatically.
• The travel authorisation for visa-free travellers will not launch in 2026, and no new date has been set. More in the article on the postponement of the European travel authorisation.

Banks and transfers: what really changed

The spring 2024 news about closed accounts and returned payments in Armenia, the UAE and China was the start of a trend rather than isolated stories. Major banks abroad weigh the risk of secondary sanctions and check clients with Russian passports ever more strictly: they ask about residence permits, tax residency and the source of funds. It is safer to open an account in the country where you hold a residence permit and a local tax number, and to prepare proof of income in advance. A second passport or permanent residence in a country with a neutral position makes these checks noticeably easier.

How we help

We choose a country and residence permit for your budget and goals, support the opening of personal and corporate accounts and prepare source of funds documents. If you are considering Hong Kong or another investment programme, we calculate the full cost of entry and the timeline. Write in the chat and we will review your situation.

FAQ