Standards of financial sustainability of the developer were approved
Resolution of the Government of the Russian Federation (No. 1683 dated December 26, 2018) approved standards for the financial sustainability of the developer’s activities, which received a building permit before or after July 1, 2018. Calculation of standards is made by the developer in accordance with the approved procedure in coordination with the Ministry of Finance of Russia. The assessment of the financial sustainability of the developer’s activities in terms of the standards of security of obligations and the targeted use of funds is carried out quarterly. Reference: The document is aimed at implementing the provisions of the Federal Law of 01.07.2018 N 175-FZ "On Amendments to the Federal Law" On Participation in the Shared Construction of Apartment Buildings and Other Real Estate Objects and on Amendments to Certain Legislative Acts of the Russian Federation" and certain legislative acts of the Russian Federation ". Government Decree No. 233 of April 21, 2006 “On Standards for Assessing the Financial Stability of the Developer’s Activities” was declared null and void.