Lawyers of the Real Estate and Construction practice participated in a meeting of the Committee on Legal Affairs of the Russian-German Commerce Chamber dedicated to the novels of the Russian legislation in 2014
On 30th January lawyers of the Real Estate and Construction practice participated in a meeting of the Committee on Legal Affairs of the Russian-German Chamber of Commerce.
Representatives of law firms and business organizations discussed the most significant regulatory changes in various fields: from important structural reforms (merger of the high arbitration court and the Supreme courts) to special rules affecting the top management of foreign companies in Russia.
Particular attention was paid to plans to introduce a special state control over real estate transactions involving foreign nationals, which are aimed to protect the interests of the state. Thus, the bill contains provisions on the obligation to obtain for foreign citizens the prior authorization for the acquisition of real estate on the territory of the Russian Federation. These restrictions are also applied to legal entities with foreign participation of more than 50%. However, the bill does not define a specific body responsible for reviewing applications for permits.
A number of changes have already come into force on January 1, 2014, the adoption of other novels is expected during the coming year.