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The real estate deals: the new restrictions for foreign citizens from the EU and the USA

1 марта 2022
18

The President of the Russian Federation signed a decree on additional temporary measures to ensure financial stability, which introduces a special procedure for the purchase of real estate property and securities in Russia. To make a real estate purchase and sale transaction with a foreigner from an unfriendly country (the list is below), it is necessary to:

  • get a permission from the Governmental commission,

  • if necessary, additional terms of the transaction must be specified in the permit,

  • this also applies to purchase and sale transactions, barter, and donation.

Who is subject to the restrictions:

  • the citizens of foreign countries who carry out unfriendly actions,

  • legal entities registered in such countries,

  • the real estate buyer company which is not registered in an unfriendly state, but is under the control of a foreign person from an unfriendly state.

The following countries are: The United Kingdom of Great Britain and Northern Ireland, Germany, the USA, etc. (Austria, Australia, Albania, Anguilla (UK Overseas Territory), Belgium, Bulgaria, the British Virgin Islands (UK Overseas Territory), Hungary, Gibraltar (UK Overseas Territory), Greece, Denmark, Jersey (British Crown Possession), Ireland, Iceland, Spain, Italy, Canada, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Taiwan, Finland, France, Croatia, the Czech Republic, Sweden, Switzerland, Estonia, and Japan.

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