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 RUSSIA IN FACTS
23 April 2004 17:06
Foreigners allowed to buy land in Russia
The Constitutional Court of the Russian Federation has passed a ruling to confirm the right of foreign citizens to buy land in Russia.

According to the ruling, the Russian Land Code lays down the right of foreign citizens, stateless persons and foreign legal entities to buy land in the Russian Federation. This does not contradict the Russian Constitution, the ruling says.

At the same time, Russian laws establish a number of restrictions on the use of land in Russia by foreign citizens, stateless persons and foreign legal entities. In particular, they can possess and use farmland only on the basis of a lease contract. The same measure also applies to those legal entities in which foreign citizens, stateless persons and foreign legal entities have more than 50 percent of authorized capital.

In addition, foreign citizens, stateless persons and foreign legal entities cannot own land in border areas and a number of other regions of Russia.

The Constitutional Court also confirmed that the Land Code of the Russian Federation was in line with the Constitution.


[RBCTop]
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