July 27, 2022

Deputies proposed to ban some foreigners from buying land in Russia

By Azlyrics

Deputies from the Liberal Democratic Party propose to ban individuals and legal entities from states unfriendly to Russia from buying land in the country, as well as give the government the opportunity to restrict the sale of land they already own countries are prohibited from buying land in Russia, Izvestia reports. with a link to the document.

According to it, changes are supposed to be made to Art. 15 of the Land Code. It regulates the ownership of land. Now it states that foreign citizens and legal entities cannot buy land plots located in the border areas. Also, since March 2021, foreigners cannot buy land in most regions of Crimea.

In addition to a ban on the purchase of land for citizens and companies from unfriendly countries, the deputies propose to give the government the opportunity to limit the turnover of land owned by them. This means that they will not be able to sell the plots they already own.

“The bill aims to create a set of responses to the unfriendly policy of unilateral sanctions by certain foreign countries. In particular, when a project is adopted, the opportunity to participate in the circulation of land, regardless of their intended purpose, is significantly limited. This, in our opinion, should have a negative impact on the economic situation of economic entities from unfriendly countries that have traditionally worked in Russia,— Deputy Aleksey Didenko, one of the authors of the bill, explained. .jpg” alt=”Deputies proposed to ban some foreigners from buying land in Russia” />

The government reported that the draft law had been submitted for consideration and sent to Rosreestr and other authorities for processing.

According to Izvestia, the idea was generally supported in the State Duma. However, the Communist Party of the Russian Federation pointed out that the presidential decree of March 1 already prohibits the acquisition of real estate by persons from unfriendly states without the permission of the government commission.

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The list of countries unfriendly to Russia was approved by the government in early March. It included all EU member states, Japan, Canada, Australia, Great Britain, South Korea, Norway, USA, Ukraine and other states. On July 24, Russia expanded the list to include the Bahamas, as well as the Guernsey and Man Islands (crown possessions of the British crown).

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