Dear ladies and gentlemen! Over the year since the previous Conference there have been significant changes in corporate real estate regulations, however, many issues still require further discussion and updates.
Dear ladies and gentlemen!
Over the year since the previous Conference there have been significant changes in corporate real estate regulations, however, many issues still require further discussion and updates.
Prompt, transparent and the simplest possible registration of corporate title to land, required for implementation of national projects, and also the most cost-efficient use of land are still among the most vital corporate business-processes, implementation of which directly affects interests both of the state and its citizens.
The introduction into the Civil Code of the RF of a new subject of property right — sole real estate complex (SREC), which is a logical continuation of such legal constructs as property complex and production and engineering complex, became a milestone in the process of improvement of real estate legal regulation. However, its practical use and particularly options for improvement or simplification of civil law relations are tied to the need to answer the following organically related and important questions:
— corporate complexes are not static forms and with the current literally interpreted composition of SREC as an indivisible item, changes made over the normal course of business (for example, reconstruction) will lead to the need of deconsolidation of registered real estate subjects and transition to registration of title to individual real estate subjects, causing additional financial, labor and time costs;
— harmonization of urban planning and civil laws, related to recognition of SREC as a capital structure with simultaneous recognition of SREC as a project activity result to secure options for SREC creation. Lack of such regulations will make inclusion of SREC into civil transactions very hard, since the current legislation has no defined procedures whatsoever for establishment of such complexes;
— lack of clear-cut tax regulations for SREC. Given the lack of regulations for such issues, it would be safe to assume that taxation of SREC as a real estate subject will ultimately lead to higher tax burden for corporations, since SREC would include taxable movable assets.
It is expected that the upcoming five years will see the Ministry of Economic Development of the Russian Federation implementing a large-scale program, focused on improvement of the real estate property title registration system. Development of a Uniform State Real Estate Register under the program is of special interest.
It is obvious that issues of civil law change attract public interest. Now there are effective regulations, changing the corporate section of the civil law, there are defined types and forms of legal entities. Along with these, the core of the civil law reform includes improvement of property laws, including regulations for new or amended forms of relations.
It is anticipated that REMIC 2014 Conference will be instrumental in analyzing new aspects of corporate real estate management, as related to development of progressive urban environment. Another important aspect is exchange of opinions under discussions of ongoing projects for moving corporations both within cities and changing locations to other regions and cities.
The Conference will specifically focus on mechanisms for reinforcing inter-corporate cooperation, primarily in cases of joint management of real estate assets or implementation of complex technological processes, involving simultaneous use of production facilities of different companies.
Discussions of corporate real estate management issues under this section will bring to the spotlight a number of pressing complex issues. All participants of the Conference are kindly invited to share their opinions in the form of expert discussions at the website of REMIC 2014.
Our joint search for efficient tools for resolution of issues, outlined by topics of the Conference, should make a significant contribution into development of property relations in Russia.