Doing Business with Russia: The Guisnel Group

The procedures and rules for the state cadastral registration of land are outlined in Federal Law No. 28-FZ "On the State Land Cadastre" of January 2, 2000 (the "Land Cadastre Law"), which came into force in July 2000. State cadastral registration applies to all land plots located in the Russian Federation regardless of the form of ownership, designation, or authorized use of the land plots. A Consolidated State Register of Land (the "Land Register") is to be established pursuant to the Land Cadastre Law, which will contain detailed information on land plots, including their cadastral number, location, land category and authorized use, the borders of the land plots, registered proprietary rights and encumbrances over the land plots, as well as information about any immovable property on the land plots. This information from the Land Register is to be open to the public. The Land Cadastre Law provides that such information will be provided in the form of extracts and copies of documents from cadastral files. Additional regulations and rules will define the procedures for filing relevant applications.
Payments for Real Estate
Whether a foreign investor is purchasing real estate or just leasing, most payments for property in Russia are categorized as transactions connected with the transfer of capital, which are usually subject to the license of the Central Bank. …