The Ministry of Finance has lifted some restrictions for foreigners on the sale of real estate

The Ministry of Finance has lifted some restrictions for foreigners on the sale of real estate.

Foreigners from "unfriendly" states were allowed to sell apartments in Russia, but left restrictions on the use of money from the sale. At the same time, restrictions on the purchase of apartments by Russians from European developers have been lifted

 

Foreigners associated with states that have imposed sanctions against Russia will be able to sell real estate in the country without restrictions, follows from the message of the Ministry of Finance. However, the money received after the sale will go to a special ruble account, and to withdraw it from it, you will need a special permit.

The decisions taken apply only to transactions made by individuals.

 

Since March 2, 2022, according to the presidential decree, all real estate purchase and sale transactions involving residents of "unfriendly" countries had to receive permission from the government commission for the control of foreign investment. For this purpose, a special sub-commission was created under the leadership of Finance Minister Anton Siluanov.

Residents of "unfriendly" countries include citizens who are registered there, work or receive a basic income. At the same time, the Rosreestr is not authorized to check whether a Russian citizen has the citizenship of any of the "unfriendly" states, only a Russian passport is needed for service when registering a transaction. Russian residents include Russian citizens, foreigners and stateless persons who permanently live in the country on the basis of a residence permit.