Open a Company for Real Estate Activities in Russia

Real estate is one of the most developed industries in Russia. From large cities to smaller towns, there are plenty of investors willing to build both residential and commercial real estate which is mostly sought by foreign citizens seeking to relocate. This is also the reason why property prices in Russia are not that cheap compared to other Asian or European countries.

Foreign enterprisers who want to start a business in the real estate industry have several options. Among the most popular ones are construction companies and real estate agencies, with the mention that the latter implies less costs.

No matter the type of business the investor will create, respecting the Russian Real Estate Law is mandatory. Our Russian lawyers can offer information on the Real Estate Law.

Legislation applicable to realtors in Russia

There are several laws which provide for those who want to set up companies with the main activities in the real estate sector in Russia. These are:

• -          the Civil Code;
• -          the Land Act;
• -          the Federal Law on State Registration of Rights on Real Estate;
• -          the Town Planning Law.

These laws must be respected by Russian real estate agencies in the relations with their clients.

Registering a real estate company in Russia

The registration of a company in Russia is subject to the Commercial Law which also applies to real estate agencies. Foreign investors are also allowed to set up this type of business without any restrictions. Also, there is no special license related to carrying out real estate activities in Russia, as long as they do not imply the construction of buildings, where building permits are required.

Our law firm in Russia can assist foreign investors who want to set up a company for real estate activities.

Services offered by real estate agencies in Russia

Among the services offered by real estate agencies in Russia are:

• -          advertising residential and commercial properties for rental purposes;
• -          intermediating the lease of commercial and residential properties between landlord and tenant;
• -          acting as a contact point between construction companies and homeowners selling properties in Russia.

For full information on how to open a real estate agency in Russia, do not hesitate to contact our local law firm.