Real estate (immovable property) purchase and brokerage

(a) Non-Russian controlled companies are not allowed to acquire plots of land. Those companies, however, can lease plots of land for a period of no more than 49 years.

(b) As an exception to paragraph (a), non-Russian controlled companies can acquire plots of land in the cases when such companies are recognized as buyers in accordance with the Law of the Russian Federation on the privatization of state and municipal enterprises in the Russian Federation and other respective legislation and regulations, including the requirements of programmes of privatization:

- within the framework of the privatization of state and municipal enterprises in the form of commercial investment tender and auction,

- within the framework of the expansion and additional construction of enterprises in the form of commercial investment tender and auction.