Russia plans to bar ‘foreign agents’ from transferring real estate and intellectual property without payment

Source: The Bell

Russians designated as “foreign agents” by the Justice Ministry face new restrictions on their rights, The Bell reports.

Deputy Justice Minister Oleg Sviridenko said the authorities plan to bar them from transferring real estate and intellectual property without payment — including transactions that currently do not require notarization.

“Foreign agents” use such transactions to get around the requirement to transfer funds to special accounts, Sviridenko said at the St. Petersburg Legal Forum. “As things stand today, it turns out that through a simple gift deed or a prenuptial agreement they transfer rights fictitiously and avoid the special account requirement,” he said.

The Justice Ministry wants all transactions by “foreign agents” to go through a notary, Sviridenko said.

At the end of 2024, the State Duma passed a law requiring that income earned by “foreign agents” be deposited into special ruble accounts. These accounts are to receive earnings from creative work, proceeds from the sale or rental of real estate and vehicles, interest income on bank deposits, and dividends or other income from equity participation in companies.

Funds from these accounts can only be accessed after the “foreign agent” designation has been lifted.

“Foreign agents” must open the special account themselves. If they fail to do so, the responsibility falls on whoever is paying them to open the account instead.

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Russia plans to bar ‘foreign agents’ from transferring real estate and intellectual property without payment

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Russia plans to bar ‘foreign agents’ from transferring real estate and intellectual property without payment

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