1. The legal framework in the Russian Federation with regard to foreigners buying residential / commercial real estate
According to Article 62 (part 3) of the Constitution
of the Russian Federation, foreign citizens and persons without
citizenship in the Russian Federation the rights and obligations as
citizens of the Russian Federation, except as required by federal law
or an international treaty of the Russian Federation.
Russian legislation does not provide restrictions on
the acquisition of foreign nationals (and persons without
citizenship) property market urban and suburban real estate. The
restrictions provided for foreign nationals to purchase their
agricultural land shall not apply if the land is acquired by a
foreign national for individual housing construction (for example,
construction of a house or cottage).
The basic legislative act regulating the procedure
for acquiring real estate, is the Civil Code of the Russian
The legislation defining the legal status of foreign
citizens in the territory of the Russian Federation is the Federal
Law "On the Legal Status of Foreign Citizens in the Russian
Federation", which establishes requirements for the
identification documents of a foreign citizen or stateless person in
the Russian Federation.
2. Features of the transaction with a foreigner
buying property in Russia
The important point is to find a legal alien in the
territory of the Russian Federation: either no more than the period
of the visa, or no more than 90 days, if the foreign national has
arrived in Russia in order not requiring a visa. Need to pay
attention to the validity of the passport of a foreign citizen.
If the name of a foreign citizen the property is
purchased by power of attorney drawn up abroad, then this power of
attorney requires mandatory legalization (and for the countries -
members of the Hague Convention - an apostille). The power of
attorney must be translated into the Russian language - the official
language of the Russian Federation, with the obligatory certificate
of translator's signature at the notary.
3. Conducting a transaction
In preparation for the transaction the seller must
collect the basic package of documents for registration and state
registration of the contract of sale. The traditional list of
documents includes documents of title to the apartment (the contract
of sale, exchange, gift, annuity, deed of transfer by way of
privatization, or the certificate of inheritance, etc.),
pravopodtverzhdayuschy document, namely a certificate of state
registration of ownership (up to 1999 issued a certificate of
ownership of the house, but not in all cases), an extract from the
house register, confirming the fact of registration of a residential
area, legend and the floor plan issued by the authorities TBTI.
If the title owner of the apartment upon her being in
a marriage, then the alienation of the apartment must have the
consent of his wife (a) to sell the apartment. Depending on the
nature of the transaction may additionally require other documents.
The most difficult and important point - the
settlement of the transaction. The traditional way - calculations
using the safe-deposit box. In applying this method of calculation is
necessary to carefully check the contents of the lease deposit box,
pay attention to the conditions of access to the cell (these are
usually the registered contract of sale of an apartment in the name
of the buyer or an extract from the Unified State Register of
confirming the registered right buyer for the apartment ). Check
pledged to cell bank notes is better to order the bank.
There is more civilized, but is not currently
widespread among individuals calculation method using a bank letter
of credit (bank transfer).
The next stage - drawing up a contract of sale.
Possible to design a contract of sale of an apartment in the notary
(notary certifies the agreement), writing. The sales contract before
signing it is necessary to examine carefully, check the description
of the documents that are referenced. In addition, you should pay
attention to timing the release of the object.
The contract of sale of an apartment is subject to
compulsory state registration and is made from the time of such
registration. Register the contract and the transfer of ownership can
be in any branch of the Federal Registration Service in Moscow,
giving statements on the form (applicants are both parties to the
contract of sale), collected documents and proof of payment of state
duty for registration (in accordance with established practice, the
costs of design and State registration of the transaction paid by the
The final stage of the transaction will be the actual
transfer of the apartment by the seller and the buyer signed by an
act of transfer. In confirmation of receipt of funds for the sold
apartment seller gives the buyer the corresponding receipt.
4. In what currency is most profitable to trade
Payments for property in the Russian Federation are
made in rubles. The parties may, if desired, to fix the exchange rate
of the ruble against any currency or currency board to determine in a
single currency, and the citizenship of the parties to the
transaction is not affected, since payments for housing, in their
general mass to occur in the form of cash.
5. Additional recommendations
Often, buyers believe that to buy an apartment on
their own, without the involvement of professionals (realtors,
lawyers specializing in the field of housing law), it is easy. This
could allow fraudsters: for example, to take an advance for allegedly
sold an apartment, and then escape. Subsequently, it appears that the
purchase of an apartment for rent, and the person representing the
seller, all is not.
Another serious mistake buyer - an agreement in word
documented agreement on the terms of the transaction are not being
Also, some do not conduct basic checks on the
project. For example, do not appear in the preparation of the seller
extract from the house register in the Maintenance Service, although
the owner (seller) can be requested archival information about
persons formerly living in the apartment. Do not check the layout of
the object based on the floor plan, which is issued in TBTI, and
often held in the facilities redevelopment without permission.