Russian-farmland.com
Support of agricultural business for foreignersHow to Buy Land in Russia?
Land plots in Russia are being actively bought not only because of their high-quality fertile soil or low cost. Government support plays a big role in this process. Taxes for farmland owners are among the lowest ones in the world. Therefore, investors are coming to Russia not only from the neighboring countries and the CIS, but also from Europe or the USA. And in the Far East, entrepreneurs from China, Korea, or old believers from Bolivia buy land.
However, a foreign citizen cannot buy any land plot. There are territories that are prohibited from being registered as property, for example, border areas. Our lawyers will help to find a way out of such situations, look for the right land, and provide full support of the transaction. As a result, you will become the legal owner of the land, saving an impressive amount of money on the acquisition.
Under what Conditions Can Foreigners Buy Land in Russia?
For the sale and purchase transaction to be legal, it is necessary to start with drawing up all the documents in a proper way. Apart from the standard package of documents required for any buyer, you will have to provide the following:
- notarized passport of the country of permanent residence;
- a visa, if there is a visa regime with your country;
- confirmation of the official stay in the Russian Federation;
- a document proving registration in the Russian Federation (temporary or permanent residence).
It is important to adhere to the visa deadlines for staying in the country. If a representative acts on your behalf, you need have the power of attorney. We will make it by ourselves.
You should also translate your passport into Russian notarizing the translated document. The power of attorney must be subject to this procedure. On the document, there should be the signature of the translator, which must also be notarized.
The seller will need a separate package of documents. It is advisable to check its completeness and the legal possibility of buying the land plot. This package must include the following:
- confirmation of land rights;
- title establishing documents;
- cadastral passport of the land plot (or the record extract from the Unified State Register of Taxpayers);
- the consent of the spouse to the transaction;
- waiver of priority redemption rights by the state.
But this is not a complete list of documents. Sale contract is also required. It must be translated into the buyer’s native language. However, this is not a prerequisite. After completing the procedure, the state registration of the agreement in the Rosreestr is performed, and the buyer is issued a certificate of ownership (the record extract from the Unified State Register of Taxpayers).
When is it Impossible to Buy Land in Russia?
Some prohibitions are stipulated in the provisions of the law, others arise in connection with the particular situation. For example, restrictions may be imposed on a particular land plot or there may be other encumbrances (if it is pledged or under arrest). Our lawyers will check the selected land in advance making sure that it can be acquired as property.
There are restrictions on the purchase of land established by law. This category includes the following:
- 1. Lands located in the border areas;
- 2. Agricultural land (it can only be rented);
- 3. Other areas designated by law.