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Lidings Law Firm – Capital gains

With the adoption of the Land Code in 2001 the government secured the rights of business entities in land privatisations of state and municipal property in Moscow.

The main requirement was the presence of capital construction objects on such land, including those built on the site of destroyed, demolished or reconstructed buildings and facilities, as well as the ownership of property rights for any such objects.

On November 22 2011 in the third reading, the State Duma accepted Federal Law 321954-4 on amendments to Articles 2 and 3 of the federal law on the introduction of the Land Code of the Russian Federation, and certain legislative acts of the Russian Federation, under which the period of privatization was extended to July 1 2012, allowing legal entities to privatise land for 20 or 45 per cent of its cadastral value.

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