Buyers from Russia and the CIS: transfers and reporting

For a buyer from Russia or another CIS country, two questions are sharper than the choice of property itself: how to transfer funds lawfully and without blocks, and what reporting obligations arise after the purchase. The rules here change often and depend on your citizenship, tax and currency residency, bank and jurisdiction. What follows is general orientation, not legal, tax or financial advice.

Transferring funds: what to consider

Payment for the deal goes to the project developer using the details from the invoice and SPA, not to NovAsia's accounts. Before transferring money, confirm the permitted method with your bank and prepare your documents. As of mid-2026, Russian citizens and residents of "friendly" states were subject, among other things, to limits on transfers abroad — for example on the order of USD 1 million per month to foreign bank accounts and around USD 10,000 per month via money-transfer systems; additional restrictions applied to certain categories. These rules are regularly extended and changed by the Bank of Russia — verify the current terms and limits as of the date of your operation.

Practical pointers (discuss with your own bank and specialist):

• use only permitted, transparent channels; do not attempt to bypass currency control or restrictions — that is a risk to you;
• prepare proof of the source of funds in advance (statements, documents on an asset sale, income, tax documents) — the bank or recipient may request them;
• verify the recipient: in whose name the invoice is issued, who owns the details, whether the recipient matches the SPA party;
• account for fees, correspondent banks, processing time and possible delay from a compliance review;
• keep the full documentary trail and obtain written confirmation that the payment was credited under the contract.

The mechanics of the payment route and the questions to ask before transferring are covered in detail by Andrey Arbenin; see also the buyer document pack. The specific route always depends on the bank, the payment service and the jurisdiction.

Reporting after the purchase

Buying foreign property and the accounts and income related to it can create notification and declaration obligations in your country. For Russian tax and currency residents, as a general rule and as of 2026, this may include:

• a notification of opening/closing/changing the details of a foreign account and an annual cash-flow report for that account to the FTS;
• declaration of worldwide income for tax residents (for example, income from renting out foreign property);
• CFC (controlled foreign company) rules if the property is held through a foreign company — with separate notifications and reporting;
• filing deadlines and penalties for non-compliance; voluntary-disclosure programmes apply from time to time.

The scope, deadlines and applicability of these obligations depend on your residency status and current legislation and change over time. Verify the current requirements on the Russian FTS site and be sure to consult a qualified tax specialist before and after the deal. We do not provide individual tax opinions.

NovAsia's boundaries

We help select a property, compare projects and documents, coordinate the transaction participants and support you up to key handover. We are not a bank, a payment institution, a legal or tax adviser, and not a party to the SPA. Sanctions, currency-control and tax compliance remain your responsibility together with your bank and independent specialists.

Sources

Transfer limits and restrictions — per Bank of Russia announcements and legal reviews (checked 10 July 2026): Bank of Russia, Lidings. Resident reporting obligations — per FTS and tax reviews: Russian FTS, Konsu (CFC). Data is stated as of the check date and may change; this is not legal or tax advice.