Thursday, October 28, 2010

To Buy Land In Russia: Restrictions For Foreigners

The Russian Law has a number of restricting provisions with regard to purchase of land in Russia by foreigners.

Thus under the provisions of the Land Code of the Russian Federation foreign nationals and foreign legal entities can acquire title for land only if they pay for it. The latter means that foreigners must not be granted permission to acquire state owned or municipal lands free of charge.

In addition to that foreigners are not allowed to buy lands allocated to members of the horticultural, market-gardening and dacha non-commercial associations (allotments), as well as lands near the state border areas, or lands designated as farming or agricultural lands. Agricultural lands can only be leased by foreigners.

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