Financial transactions

• It is possible to make real estate purchase and sale transactions with non-residents

• Current restrictions on currency transactions: no new changes 

As our practice shows, real estate transactions in countries that are not included in the unfriendly list are carried out without restrictions. At the same time, some banks may require additional documents from the developer to confirm the currency transfer from the Russian Federation.

Relocation 

• Easing of covid restrictions abroad

• Latvia will stop issuing residence permits to Russians 

• Current investment citizenship and residency programs

Organization of a private flight

Financial transactions

Residents of the Russian Federation can make real estate purchase and sale transactions with non-residents 

On March 17, 2022, the subcommittee of the Government Commission for Monitoring the Implementation of Foreign Investments considered the requests of individuals on real estate transactions.

Guided by the Decree of the Government of the Russian Federation dated 06.03.2022 No. 295, the sub-commission came to the following decisions:

• to allow residents to sell real estate to non-residents of unfriendly countries;

• to allow residents to purchase real estate from non-residents of unfriendly countries. Funds for such transactions will have to be credited to a type “C” account in the manner prescribed by Decree of the President of the Russian Federation No. 95 dated 05.03.2022;

• to allow residents to conclude contracts for participation in shared-equity construction with non-residents of unfriendly countries. 

This means that it is allowed to buy foreign real estate from individuals from unfriendly countries (for example, from citizens of the EU or the USA) only if money is credited to an account of type “C”. The regulations for using the special account “C” are listed on the official website of the Central Bank.

When buying real estate from a legal entity (developer) from an unfriendly country, permission from a government commission is required.

When purchasing real estate from a legal entity from a country that is not on the unfriendly list (the UAE, Turkey, CIS countries), you need to prove that the participant/shareholder/UBO does not belong to unfriendly countries when making a payment in a bank.

Currency transactions: current status

There are no new restrictions on currency transactions this week. You can read about the current restrictions in our material.

Covid restrictions: easing of measures in the UK, Georgia and Vietnam

On March 18, the UK lifted all covid entry restrictions.

You no longer need to take PCR tests and get vaccinated for the trip. The lifting of restrictions applies to both vaccinated and unvaccinated tourists.

Georgia has been easing covid restrictions within the country since March 28.

Now wearing masks on the street is not necessary, but they will be needed in transport and indoors. The lifting of restrictions also applies to tourists.

Vietnam has also opened its borders to unvaccinated tourists. 

To enter Vietnam, you will need: a negative PCR test done 72 hours before entry, or an express test done 24 hours in advance, as well as medical insurance with coverage from $10,000.

We remind you that Russians have 14-day visa-free entry to Vietnam.

Latvia plans to stop issuing residence permits to citizens of the Russian Federation

On March 23, the Minister of Internal Affairs of Latvia Maria Golubeva reported that the Ministry of Internal Affairs of Latvia has already begun to develop the necessary changes to suspend the issuance of new residence permits to Russians.

An exception will be made only in cases of family reunification and for humanitarian reasons.

Today we offer our clients the following investment citizenship and residency programs

Citizenship of Montenegro, citizenship of Vanuatu, citizenship and residence permit of Turkey, permanent residence of Canada, permanent residence of Cyprus, residence permit of Georgia, residence permit of Serbia, residence permit of Spain, residence permit of Italy, residence permit of Austria, residence permit of Dubai and investment visa of Thailand.

Organization of a private flight

Renting a private jet allows you to fly according to your own schedule in complete comfort and enjoy every moment spent in flight.

If you wish to organize a flight, a special offer is available for ARAVANA Multifamily Office customers.

Private board even with the sky closed and a 25% discount on the flight and premium cuisine on board!

Departure at the first request of the customer, Luxury-class service, reliability and safety guarantee. You choose the date, time and direction – we are flying. All aircraft meet international safety standards and are ready to make a flight in the direction you need without any problems.

Leave a request for a free consultation, and we will contact you as soon as possible.