Latest developments related to approval of transactions with real estate in Russia
22 February 2024
Dear Ladies and Gentlemen!
Since 1 March 2022, a Presidential Decree has introduced a special procedure for certain transactions in the Russian Federation. In particular, transactions that result in the transfer of ownership title to real estate between Russian Residents and persons from ‘Unfriendly’ states (or controlled by persons from ‘Unfriendly’ states, including Russian entities) require prior approval by a Sub-commission.
In this newsletter we are providing the most commonly used exceptions and applicable case law precedents in 2023.
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Note: please be aware that all information provided in this letter is based on an analysis of publicly available information as well as our understanding and interpretation of legislation and law enforcement practices. Neither ALRUD Law Firm nor the authors of this letter bear any liability for the consequences of any decisions made in reliance upon this information.
If you have any questions, please, do not hesitate to contact us.
Andrey Zharskiy
Partner, PhD in Law, Advocate in Russia, Solicitor in England and Wales
Stanislav Veselov
Of Counsel
Sincerely,
ALRUD Law Firm
Lesnaya st., 7, 12th fl., Moscow, Russia, 125196
Т: +7 495 234 96 92, Т: +7 495 926 16 48, info@alrud.com
alrud.com
Т: +7 495 234 96 92, Т: +7 495 926 16 48, info@alrud.com
alrud.com