Within the framework of its powers provided for by paragraph 16 of the Rules for issuing permits by the Government Commission for Control over Foreign Investments in the Russian Federation, approved by the Resolution of the Government of the Russian Federation No. 295 from 06.03.2022, the Government Commission, by its protocol[1], has allowed residents to carry out transactions entailing the emergence of ownership rights to immovable property (except for aircraft and sea vessels, inland waterway vessels) acquired by foreign legal entities related to so-called “unfriendly” foreign states.
The same protocol cancelled a similar permission, which was stipulated in Section V of the minutes of the Sub-Commission meeting of 07.09.2022 No. 85, but it did not provide for exclusion from the authorization of transactions in respect of aircraft and sea vessels, inland waterway vessels.
[1] “Extract from the minutes of the meeting of the subcommittee of the Government Commission on Control over Foreign Investments in the Russian Federation of March 7, 2024 N 232/9” (communicated by the Ministry of Finance of Russia on 15.05.2024 N 05-06-09/VN-20310).
The same protocol cancelled a similar permission, which was stipulated in Section V of the minutes of the Sub-Commission meeting of 07.09.2022 No. 85, but it did not provide for exclusion from the authorization of transactions in respect of aircraft and sea vessels, inland waterway vessels.
[1] “Extract from the minutes of the meeting of the subcommittee of the Government Commission on Control over Foreign Investments in the Russian Federation of March 7, 2024 N 232/9” (communicated by the Ministry of Finance of Russia on 15.05.2024 N 05-06-09/VN-20310).