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Sponsored by IntermarkSavills
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IntermarkSavills is a partnership of Intermark and Savills, the leading international property services group.
If you are looking to rent an apartment or country house turn to IntermarkSavills and we will select the most suitable variants for you. The process of searching for an apartment can be stressful for you and your family, but you can rest assured that IntermarkSavills will solve all your problems connected to renting a home.
With us you can always count on efficient, effective and professional services. You can familiarize yourself with current offers on the rental market on our website, which has a daily updated database of properties. Here you will find detailed descriptions, conditions of rent, good quality photos, floor plans and also maps of the local area for each property.
If you are interested you may select a property on our website.
+7 (495) 502-9553, +7 (495) 775-2240, www.intermarksavills.ru
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Question:
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| A permanent resident in US and a Russian citizen wants to sell her apartment in Moscow. What would be the taxes if any, how would the money be transfered to US and what realtor would you recommend to handdle this? Thank you,
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Answer:
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Dear Ira,
The following taxation scheme is applicable for selling a property in Moscow:
- if a person is classified as a resident of the Russian Federation (i.e. he\she spends 183 days or more per annum in Russia) and the person has owned the property for more than 3 years, he/she is not liable to pay tax on the sale.
- if a person is classified as a resident of the RF but he/she has owned the apartment for less than 3 years, he/she is eligible to pay a tax of 13%, calculated from the sale price of the property.
- if a person is a non-resident of the RF he/she would be eligible to pay 30% tax regardless of the period of ownership.
In Moscow most real estate transactions are paid for in cash. That usually means in practice that seller and buyer agree to choose a bank where they rent a safe deposit box and keep the money there while the ownership documents are registered in the new owner's name. The seller then takes the money out of the safe deposit box. If a seller decides to transfer the money abroad, the best way to do this would be to open an account in the same bank where the deal took place and the bank would then transfer the money to the desired overseas account.
Our highly experienced sales team at Intermark would be delighted to assist you in this transaction and to provide you with all the information and guidance you need at each and every stage of the sales process. For a free consultation with absolutely no commitment, please call me on 775 2240 to arrange a meeting. Best regards,
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