What are non-obvious problems that a foreigner who plans to buy an apartment in Russia will have to face? Below are the most common questions that are often asked by non-residents planning to purchase real estate in Russia.
At the moment, in Russian legislation, there are no strict restrictions for foreigners to buy real estate in Russia. A buyer needs to have a confirmation of the right to stay in the country (it can even be a tourist visa), choose the property and conduct a standard purchase and sale transaction.
Is it true that to buy real estate in Russia you need a residence permit?
No, this is not a prerequisite. A residence permit confirms the right to reside permanently in the country, but real estate can be purchased not for permanent, but, for example, seasonal residence.
Is it true that obtaining residence permits or citizenship is easier for foreigners who own a property in Russia?
No, it is not true. The presence of an apartment, a summer residence, a garage or other real estate does not give any preferences.
Is it true that a deal will cost a foreigner much more than a citizen of the Russian Federation?
Russian legislation does not provide for any additional fees or charges for foreigners. In some cases, a purchase for a non-citizen can really be more expensive, but for commonplace household reasons. For example, if translation services are required, notarization of the translation of documents into Russian and vice versa, etc.
Is it true that in order to buy real estate in Russia, a foreigner will have to renounce his citizenship?
It is not true. The acquisition of real estate and citizenship in another country does not lead to a conflict of interest. The acquisition of real estate in Russia by a citizen of another country is a fairly understandable and streamlined process. But often difficulties arise due to the language barrier. If a foreign citizen does not speak Russian, it will be necessary to hire translators to prepare documents.
Some foreign nationals turn to a notary public who not only provides a translator, but also helps to draw up a bilingual notarized contract. It helps buyers to figure out what they sign up to and what they acquire in the long run.
There is a cheaper option: a foreign citizen can attract a Russian-speaking citizen of the country to do the paperwork, give him a power of attorney, and he will already sign all the documents on behalf of the buyer.
Foreigners purchase real estate not subject to any special taxes, but often there are difficulties with mutual settlements (especially if the money comes from abroad). It is also worth noting that there is a list of border municipalities, districts, and regions, strictly regulated by the legislation of the Russian Federation, for real estate located in these territories, foreigners will not be able to obtain ownership.
The acquisition of a residence permit does not affect the acquisition of a residence permit. But there is one caveat: to obtain a temporary residence permit, you must have a free quota, because for each subject there is a certain number of places for people planning to obtain citizenship. If a foreigner already owns real estate, then a quota can be obtained in a simplified manner.
The legislation of the Russian Federation almost does not impose restrictions on foreigners who want to buy real estate in Russia but some nuances still exist. Such as, a foreign citizen is not entitled to acquire real estate in the border regions of the Russian Federation and in closed administrative-territorial entities.
To close a deal, a foreign citizen will need a standard set of documents: a national passport, a copy of it with a notarized translation and documents confirming the legality of being in Russia. If the transaction requires notarization or state registration, then one will need to provide the notarized consent of the spouse of the buyer. If the husband or wife is abroad, it will be necessary to fix the consent of the second party with any notary and put an apostille on this document, as well as translate it into Russian.
Particular attention should be paid to transactions in which a foreign citizen who does not speak Russian is involved. Since all documents for the sale and all applications for registration in Rosreestr are prepared in Russian, participants in the process must make sure that they include a translator or an authorized person who knows the language and specific terms well.
The parties should also discuss the transaction procedure in advance, including discussing the method of payment for the acquired property.
It should be noted that the ownership of a foreign citizen by property does not give him preferences when considering the issue of obtaining Russian citizenship or a residence permit.
