Why Invest?

There is no doubt that today Moscow can compete with the leading cities of the world in the profitability of investing in real estate.

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Market Report

We forecast that there will be great demand in property in Russia in the near future and rental rates are going to be increased.

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Economic Overview

Russia is presently running a huge trade surplus, which has been helped by protective import barriers, and rampant corruption which ensures that it is almost impossible for foreign and local SMEs (small and medium sized enterprises) to import goods without the help of local specialist import firms, such as the Russia Import Company. Some import barriers are expected to be abolished after Russia's accession to the WTO in 2006.

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Visa / Residency Issues

A foreigner can apply for temporary residence in Russia. The advantages are as follows:

• No work permit and/or approval for the intake of foreign labor are required;
• No restrictions to change the employment position and/or employer are in place;
• A temporary residency permit is issued for three years, and a visa is also required to enter the Russian Federation that will also be valid for three years. This visa is originally issued for four months on the basis of the decision of the Internal Affairs Ministry to grant the temporary residency permit and is extended (by the Internal Affairs Ministry) for the entire term of the permit once the foreign national has obtained it; and
• No restrictions on registration as an individual entrepreneur.

Getting to Russia

An approximate flight time to Moscow from London is 4 hours.

Fees & Taxes

• Income Tax is subjected to 24%.
• Residential rentals and sales are subject to 18% GST.
• Annual property tax is levied at up to 2.2%.

Russia

Basic Information

Russia Overview

Russia is a country that stretches over a vast expanse of Asia and Europe. With an area of 17,075,400 km², Russia is the largest country in the world, covering almost twice the territory of the next-largest country, Canada, and has the world's eighth-largest population. Russia shares land borders with the following countries (counter-clockwise from northwest to southeast): Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia, and North Korea. It is also close to the United States and Japan across relatively small stretches of water (the Bering Strait and La Pérouse Strait, respectively). Russia is considered the Soviet Union's successor state in diplomatic matters and is a permanent member of the United Nations Security Council.

Average Property Prices

Coming soon.

Buying Process

• The real estate buying process in Russia is theoretically relatively straightforward because foreigners have the exact same rights when it comes to real estate in Russia as local Russians do. 
• With the popularity among Russians for brand new property for sale there are a lot of new apartment and town house developments that an investor may also like to consider in Russia.
• Once an agreement has been reached for the conditions of the sale, the preliminary contract is signed by all parties involved in the sale and purchase.  This can be notarized and at this stage an investor’s solicitor will begin investigating the history of the property to ensure that it is safe to purchase and also drawing up the final contract. 
• If all conditions for the sale are met it will complete on a fixed date when the buyer and vendor will meet at a public notary’s office to sign the final contract.  It is still common for many real estate transactions in Russia to be conducted in cash.

• Once the final sale-purchase agreement is signed and notarized the paperwork is presented to the state for registration which can take up to two weeks and then the documentary evidence is available to prove the real estate investor now owns the real estate.
  
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