START-ALLIANCE LLC. PROVIDES STATE PROPERTY VALUATION SERVICES IN MOSCOW AND OTHER RUSSIAN REGIONS.

According to the current Russian legislation, independent valuation of the property owned by the Federal or municipal governments is required in the event of any transactions conducted with such property. These transactions include, but are not limited to property buy-out, lease, granting temporary rights and pledging.

The law establishes the uniform procedure for making transactions with government owned property, i.e. the property may not be valued otherwise than by an independent valuer. This requirement is contained in Art. 8 of the Federal Law “On Valuation Activities in the Russian Federation”, which reads as follows:

A valuation shall be mandatory whenever a transaction involves any property owned, fully or partially, by the Russian Federation, constituent members thereof or municipal entities, in particular when:

• determining the value of subject property owned by the Russian Federation, constituent members thereof or municipal entities for the purposes of privatization, trust management or lease;
• using the subject property owned by the Russian Federation, constituent members thereof or municipal entities as a collateral;
• selling or otherwise disposing of subject property owned by the Russian Federation, constituent members thereof or municipal entities;
• assigning debt obligations related to the subject property owned by the Russian Federation, constituent members thereof or municipal entities;
• transferring the subject property owned by the Russian Federation, constituent members thereof or municipal entities as a contribution to a charter fund of a legal entity…”

We have extensive experience in government owned property valuation in Russia and should you require any assistance in this matter, please contact us.