Vladimir Putin will have to bid farewell not only to his power, but many of his material possessions when he steps down after the presidential election in Russia. Putin will hand over his official residences, vehicles, special communication means and security to his successor, Dmitry Medvedev, who already has all chances to become the new president of Russia.

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Putin as the ex-president will not be left without social and material values. Many of Putin’s foreign counterparts may envy him at this point.

In accordance with the law of the Russian Federation “About Guarantees to the President Who Ends His Powers” Vladimir Putin will preserve diplomatic immunity after the presidential election of March 2. He can not be called into criminal or administrative account for acts which he committed during his stay in the office. An exception can be made only with incidents of grave offense.

The former president will be able to use the state security, special communication means and transport servicing for term of life. He will also receive the monthly allowance in the amount of 75 percent of the monthly financial incentive paid to the president of Russia (equals about $5,000). The former president also preserves the right for insurance, as well as medical, sanatorium and spa treatment.

Also read: Pictures of shirtless Putin send straight women and gay men in ecstasy

The ex-president of Russia is allowed to keep a group of assistants and use official denegation halls. In addition, the former head of state also has a right to use one of state-owned cottages for life.

As for the cottage, Putin has already decided to keep his residence in Novo-Ogarevo (the Moscow region). The residential address of the new president is not known yet.

Viktor Khrekov, the press secretary of the presidential administration said that the head of state has three official residences: the Kremlin, Novo-Ogaryovo and Bocharov Ruchei Residence in the city of Sochi, on the Black Sea coast of Russia.

Most likely, the next president will take possession of Bocharov Ruchei when his term in the office expires.

The official residence for Russia’s new president (most likely Dmitry Medvedev) will be picked from the housing reserve of the Moscow region. “Neither the would-be, nor the outgoing president will be left without residences. We have enough houses that could become residences,” Viktor Khrekov said.