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The new Land Code regulates the land-ownership rights of private individuals and legal entities but does not cover farmland, whose sales and purchases will be regulated separately. The Land Code stipulates five land-ownership categories, namely, private individuals, legal entities, state/federal, regional and municipal property.
In all, the Land Code covers about 2% of the country’s land, including industrial areas, as well as city-and-town land plots.
Moreover, the Land Code stipulates limited land purchase and sale rights for foreign citizens in border regions, primarily, southern Russia, the Far East and the Kaliningrad Region. In all other cases, foreign and Russian citizens will enjoy equal land-ownership rights in line with the Land Code.
October 26, 2001