Russia to Enable Real Estate Deals via Biometric ID
Starting July 1 next year, Russians will be able to complete property transactions remotely using biometric verification, a move designed to simplify processes and strengthen security.
Russia is preparing to overhaul the way its citizens buy and sell property. Beginning July 1, new legislation will allow people to carry out real estate transactions remotely through biometric identification. The framework is based on amendments to the law on state registration of real estate, developed by Rosreestr, the Federal Service for State Registration.
At the heart of the system is the Unified Biometric System (UBS), which stores personal data, biometric vectors, and other information sufficient for identity verification.
Currently, to execute a digital property transaction, owners must request a special entry in the Unified State Register of Real Estate through a multifunctional service center. Once the law takes effect, that extra step will be eliminated. Experts say the reform will not only simplify the process but also shorten registration times. For now, technical improvements to the information system are underway.
Remote transactions are gaining traction in Russia well beyond real estate. The biometric system is marketed not only as convenient but also as secure, with officials claiming it has proven fully resistant to fraud.
