Doing Business 2010: Russian Federation in Focus

Page 78

Registering Property in the Russian Federation This topic examines the steps, time, and cost involved in registering property in the Russian Federation.

STANDARDIZED PROPERTY Property Value: 13,900,608.48 City: Moscow Registration Requirements:

No:

Procedure

Time to complete

Cost to complete

1 *

Seller obtains the cadastral passport at the Bureau of Technical Inventory (BTI)

10 days (simultaneous with procedures 2, 3, and 4)

RUB 1,830.94

2 *

Seller obtains the cadastral passport at the Committee for Land Resources and Land Management

10 days (simultaneous with procedures 1, 3, and 4)

RUB 100

3 *

Seller obtains the extracts from the Unified State Register of Real Estate Property

7 days (simultaneous with procedures 1, 2, and 4)

RUB 300 per extract (legal entities)

4 *

Buyer or the seller obtains an extract from the Unified State Register of Legal Entities containing the information about the seller

7 days (regular procedure) or 1 day (expedited procedure) (simultaneous with procedures 1, 2, and 3)

RUB 200 (regular procedure) or RUB 400 (expedited procedure)

5

Notarization of corporate documents by seller and buyer

1-2 days

RUB 500

6

Registration of the transfer of the building and the land plot at the State Registration Department

30 days

RUB 7,500 (building) + RUR 7,500 (land plot transfer)

* Takes place simultaneously with another procedure.

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