Analytics and brochures

Criteria have been approved that, when met, allow funds of the participants in shared-equity construction to be raised without escrow accounts being used Law firm Pepeliaev Group advises that on 1 May 2019, the Russian Government’s Resolution No. 480 dated 22 April 2019 comes into effect. Resolution No. 480 establishes criteria which, when met, allow a developer to raise funds from the participants in shared-equity construction without escrow accounts being used.

The third sтage of the “Offshore amnesty” will require that foreign companies be redomiciled to Russia and funds be repatriated from foreign accounts The Russian Government has put before the State Duma draft laws prolonging the period when persons can voluntarily report certain types of assets, as well as accounts in foreign banks (the so-called “offshore amnesty”) until 29 February 2020. Yet, the application of the new (third) stage of voluntary reporting will be subject to rather stringent conditions.

A law has been adopted that prohibits the provision of hotel services in residential premises of apartment buildings from 1 October 2019 On 1 October 2019 the amendments to the Russian Housing Code will come into force. These amendments have been made pursuant to Federal Law No. 59-FZ dated 15 April 2019 , which prohibits the use of residential premises in an apartment building for the provision of hotel services.

Rules for developing technological standards are approved

Pepeliaev Group advises that on 15 April 2019 the Rules for developing technological standards relating to emissions/discharges of pollutants take effect. They are approved by the Russian Government's Resolution No. 89 dated 14 February 2019.

Requirements have been approved for creating a system of automatic control of emissions/discharges of pollutants

Pepeliaev Group advises that in March 2019 the Russian Government has adopted a number of regulatory instruments setting the requirements for creating a system of automatic control and requirements for equipment and for technical tools to measure, record, document and transfer the information about emissions/discharges. 

Escrow: new developments in the area of escrow of paperless securities Law Firm Pepeliaev Group advises that rules for escrow of paperless securities have been clarified.