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How To Get The Russian Golden Visa via a Real Estate Purchase?
How Do I Buy Real Estate in Russia?
There’s a lot of misinformation on how a foreign citizen can obtain a Russian Golden Visa via a real estate purchase. In this article, we will inform you how you can actually get a Russian Golden Visa, based on existing legislation.
The rules around real estate purchases in Russia mean that anyone who would like to buy a property can obtain a visa (providing they meet certain criteria) even if they are not a Russian citizen.
The rules around real estate purchases in Russia mean that anyone who would like to buy a property can obtain a visa (providing they meet certain criteria) even if they are not a Russian citizen.
To purchase an apartment or house, a foreigner doesn’t need to obtain a residence permit, get married, or confirm kinship with a citizen of the Russian Federation.
In addition to this, foreign citizens can purchase property in Russia, regardless of whether they buy from a developer or the property owner.
In addition to this, foreign citizens can purchase property in Russia, regardless of whether they buy from a developer or the property owner.
2024
Reading Time: 7 min
What Documents Do I Need?
Here are the basic documents you will need:
-
Passport of a foreign citizen with a notarized translation into Russian
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Notarized consent of the spouse, if the buyer is married
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A document confirming the legal presence of a foreigner on the territory of Russia
These documents are needed to ensure legal transparency, protect the interests of all parties, and serve as a starting point to obtain a permanent residence permit.
Buying Real Estate: The Basic Steps Involved
1
Research and Select a Property
Start by researching the real estate market in Russia (by yourself or with our guidance and advice). Determine which cities or regions you’re interested in and what type of property suits your needs.
Ensure that the property you’re considering meets the requirements for obtaining a Russian Golden Visa. Typically, residential properties such as apartments or houses are eligible. Read more about the criteria here
Ensure that the property you’re considering meets the requirements for obtaining a Russian Golden Visa. Typically, residential properties such as apartments or houses are eligible. Read more about the criteria here
2
Find a Trusted Guide
Don´t engage in purchasing of a real estate property on your own — engage our experienced Ark Vostok team or work together with a real estate agent / developer you trust.
Our team will guide you through the process, help you find suitable properties, and navigate legal requirements along the way.
Our team will guide you through the process, help you find suitable properties, and navigate legal requirements along the way.
3
View Properties and Make an Offer
Visit the properties you’re interested in, either in person or virtually. Once you’ve found the right property, make an offer.
Negotiate the price and terms of the purchase agreement.
Negotiate the price and terms of the purchase agreement.
4
Conduct Due Diligence
Before finalizing the purchase, conduct thorough due diligence on the property.
This includes verifying ownership, checking for any encumbrances or legal issues, and ensuring the property meets all building and safety regulations.
This includes verifying ownership, checking for any encumbrances or legal issues, and ensuring the property meets all building and safety regulations.
5
Sign the Purchase Agreement
Once you’re satisfied with the property and all necessary checks are completed, sign the purchase agreement.
This document outlines the terms and conditions of the sale, including the purchase price, payment schedule, and any other contingencies.
This document outlines the terms and conditions of the sale, including the purchase price, payment schedule, and any other contingencies.
6
Transfer Funds and Register the Property
Transfer the funds for the purchase to the seller’s account as per the agreement.
After the payment is confirmed, the property must be registered in your name at the local Federal Registration Service office (Rosreestr).
This step is crucial for legal ownership.
After the payment is confirmed, the property must be registered in your name at the local Federal Registration Service office (Rosreestr).
This step is crucial for legal ownership.
7
Apply for a Residence Permit
With the property under your ownership, you can then apply for a Russian Golden Visa
It’s important to note that laws and regulations regarding real estate transactions and residence permits may change, so it’s advisable to consult with your local partner or legal expert for the most up-to-date information and guidance.
It’s important to note that laws and regulations regarding real estate transactions and residence permits may change, so it’s advisable to consult with your local partner or legal expert for the most up-to-date information and guidance.
It’s important to note that laws and regulations regarding real estate transactions and residence permits may change, so it’s advisable to consult with us at Ark Vostok to receive the your local partner or legal expert for the most up-to-date information and guidance before you start.
What Else Do I Need to Know?
At this point, we’ve summarized certain criteria for recognizing foreigners as investors (including real estate) for obtaining an investor residence permit, established in 2022.
It’s enough for a foreigner to buy property either at the construction stage or within two years after its commissioning.
It’s enough for a foreigner to buy property either at the construction stage or within two years after its commissioning.
You must own this property continuously for a year before applying for a Russian Golden Visa
In general, an investor must own assets with a total value of at least $220,000. This threshold applies to the regions of the Far East.
In Moscow however, the total value of real estate must be at least 50 million Rubles — which is around $550,000
In all other regions — at least 25 million Rubles (roughly $275,000).
The property must be newly built — not older than two years since it was built, it could also be purchased at the construction stage.
The property needs to be mortgage free, thus you are obliged to finance it outright. This is a requirement to apply for a Russian Golden Visa. Once you receive your Russian Golden Visa, should you wish to do it, you can refinance your real estate with a mortgage.
To proceed with the residency application, investors need to send all documents to the Ministry of Economic Development. The documents can be submitted remotely and our team at Ark Vostok will handle the application process.
In Moscow however, the total value of real estate must be at least 50 million Rubles — which is around $550,000
In all other regions — at least 25 million Rubles (roughly $275,000).
The property must be newly built — not older than two years since it was built, it could also be purchased at the construction stage.
The property needs to be mortgage free, thus you are obliged to finance it outright. This is a requirement to apply for a Russian Golden Visa. Once you receive your Russian Golden Visa, should you wish to do it, you can refinance your real estate with a mortgage.
To proceed with the residency application, investors need to send all documents to the Ministry of Economic Development. The documents can be submitted remotely and our team at Ark Vostok will handle the application process.
How Long Does It Take to receive a Russian Golden Visa?
The applicant for a residence permit will be informed about the results of the assessment within 30 working days of submitting the initial paperwork.
In total, it usually takes about 1.5 years from the first thought about purchasing the real estate in Russia to your Russian Golden Visa in hand.
Half a year to purchase real estate, doing it at your own pace as we assist you and guide you through the process.
One year of ownership of the real estate to comply with the Russian Golden Visa rules.
One month to receive your Golden Visa after we have submitted your application.
In total, it usually takes about 1.5 years from the first thought about purchasing the real estate in Russia to your Russian Golden Visa in hand.
Half a year to purchase real estate, doing it at your own pace as we assist you and guide you through the process.
One year of ownership of the real estate to comply with the Russian Golden Visa rules.
One month to receive your Golden Visa after we have submitted your application.
Yes, if you plan to visit your real estate and stay in Russia for longer than a tourist period, it is very useful to get your Russian Golden Visa that grants you a permanent residence permit in Russia.
The main advantages of a residence permit are as follows:
The main advantages of a residence permit are as follows:
- A permanent residence permit gives a foreigner the right to permanently reside in Russia, conduct business, move freely across regions, and cross borders
- It provides almost the same number of rights as Russian citizens and imposes very few restrictions
- The opportunity to obtain Russian citizenship after five years of residence under a residence
- Free healthcare and education, government that is focused on traditional value and pro-family politics.
Do I need to apply for a Russian Golden Visa?
Taxation and Duties
When purchasing real estate in the Russian Federation, foreigners pay the same taxes and fees as Russian citizens.
After registration of ownership, the foreign owner is also required to pay annual property tax on the same level as Russian citizens – 0.15% of the property taxation value. Thus, a property valued at $275,000 one would need to pay an annual tax equivalent to $412.
After registration of ownership, the foreign owner is also required to pay annual property tax on the same level as Russian citizens – 0.15% of the property taxation value. Thus, a property valued at $275,000 one would need to pay an annual tax equivalent to $412.
Practical Advice for Foreign Buyers
We strongly suggest using a professional advisors to navigate the real estate purchase — the process can be tricky to say the least, so having someone on hand is our advice.
Our qualified experts will help check the legality of the transaction and the history of the property, correctly draw up the purchase agreement and any other related documentation that’s required.
We hope this short guide was helpful and in case of any further questions or inquiries are ready to do our best to assist you in all possible endeavors in this field!
Our qualified experts will help check the legality of the transaction and the history of the property, correctly draw up the purchase agreement and any other related documentation that’s required.
We hope this short guide was helpful and in case of any further questions or inquiries are ready to do our best to assist you in all possible endeavors in this field!
This insight is written by our expert
Dmitry Serebrennikov
Managing partner
Managing partner