Expert talks about ways to sell apartments of citizens of unfriendly countries

Real estate transactions in Russia involving persons from unfriendly countries require a special approach and lengthy approval. Mikhail Yusubov, Legal Director at Kalinka Ecosystem, explained how to simplify this complex process.

In the context of current currency restrictions and measures to control cross-border transactions, special attention is paid to real estate transactions involving persons from unfriendly states. Such transactions require permission from the Government Commission and the use of special type "C" accounts, which are opened for the transfer of funds between residents and non-residents.

- Russian legislation provides for a number of exceptions, - notes Mikhail Yusubov. - These measures are aimed at ensuring legal certainty and supporting economic activity in the real estate sector, including within the framework of shared construction and within the family.

According to the expert, there are several categories of transactions that do not require lengthy approvals.

This is, firstly, the sale of real estate by a resident of the Russian Federation in favor of a Russian financial organization managed by unfriendly persons. As well as vice versa - the sale of real estate by a Russian organization managed by unfriendly persons in favor of a resident.

Another way is a gift from a person from an unfriendly state to a resident between spouses or close relatives. Similarly, a gift from a resident to an unfriendly person, provided there is kinship.

A transaction involving a non-resident as a seller and a resident as a buyer is possible if it was concluded and executed before March 2, 2022 or paid for using mortgage funds after registration of the transfer of title.

Things are simpler with the purchase and sale of new buildings within the framework of Federal Law 214 on shared construction. Here, transactions are possible when the seller is an unfriendly person and the buyer is a resident of the Russian Federation and when the seller is a Russian and the buyer is a non-resident.

The seller may be a Russian developer, and the buyer may be an unfriendly person or a legal entity controlled by it. Alternatively, it is possible for the Russian developer to alienate the property under the control of an unfriendly person, regardless of the type of transaction.

The list of exceptions provided demonstrates the regulator's desire to maintain a balance between economic security measures and the needs of civil turnover, the specialist emphasizes. Particular emphasis is placed on supporting transactions taking place within the framework of shared construction, family and kinship ties in gratuitous transfers of property and deferred obligations that arose before the start of the sanctions regime.

- Thus, even in conditions of tightened currency control, it is still possible to conduct legally significant transactions that do not require a lengthy approval procedure and opening of special accounts, - concludes Mikhail Yusubov.

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