Can A Foreigner Buy Real Estate (Apartment/Office/Land) In Ukraine?
The purchase of real estate by foreigners in Ukraine is not a rare occurrence. This is a profitable investment, especially if we are talking about apartments and commercial real estate in cities such as Kyiv, Odesa, Lviv or Kharkiv.
Of course, foreigners, both individuals and legal entities can buy various types of real estate in Ukraine, including land, although there are some restrictions. The question is rather how to buy real estate in Ukraine safely, without losing too much time and money.
Legal consultation on real estate purchase in Ukraine is the answer to your question about how to buy the property you need and how to do it profitably.
There are a lot of additional aspects to the real estate transaction: taxes, transfer of money for the property, registration of the ownership right to real estate in Ukraine and so on.
Legal advice and legal support of the real estate transaction in Ukraine includes:
Analysis of Client’s desires and possibility of their implementation in Ukraine;
Assessment of the risks of buying the selected real estate in Ukraine for the foreigner;
Consultation regarding the optimal algorithm of purchasing the real estate in Ukraine;
If necessary, our lawyers will negotiate with the seller and organize the whole process of purchasing and selling real estate, including meeting at the notary’s and translation of documents;
If necessary, we can obtain an ID code for a foreigner that will be required in order to conclude a real estate transaction in Ukraine (if you don’t have one);
Checking seller’s documents and real estate sale and purchase agreement.
Our firm also offers real estate inspection services. You can read about the stages of the real estate pre-sale inspection here.
Please note! When you order legal support services for buying real estate in Ukraine, the real estate inspection is included in the service package! To find out the cost of legal support services for buying real estate in Ukraine, and to choose the package that suits you, please follow this link.
You may also like: What Documents Do You Need To Buy An Apartment In Ukraine?
Legal services for the buying real estate (land/office/apartment) in Ukraine from our company
Let’s tell briefly about the peculiarities of acquiring different types of real estate by a foreign national in Ukraine.
Purchase of an apartment or office in Ukraine by a foreigner.
There is no difference between purchase of residential or commercial real estate for foreign citizens in Ukraine. You can easily purchase both an apartment and an office in Ukraine. It is important to consider the following issues:
Check the property before you buy it. Inspection can be of different types and depths, but its main purpose is to ensure the safety of the property purchase transaction. It’s worth checking not only the real estate object, but also the real estate developer/owner and the real estate purchase and sale agreement.
Prepare for the purchase of real estate in Ukraine. So, to buy an apartment or office, a foreign natural person will need at least to get an identification code and open a bank account. A legal person will just need to open an account in a Ukrainian bank.
Correctly conduct all financial transactions. You will need to pay for the purchase of an apartment or office in the Ukraine through a bank transfer - never agree to the enticements of the seller to pay in cash.
Please note! It is also worth mentioning the tax on the purchase of an apartment or office in Ukraine. You have to pay 1% of the contract amount as a state fee and another 1% to the Pension Fund. Additionally, you will need to pay for notary and translation services.
Obtain documents confirming the ownership right to real estate in Ukraine. As a result of the transaction, you should get a certain package of documents, confirming your ownership rights to real estate. For example, when buying: the original purchase and sale agreement, technical passport, proof of payment (copies of receipts) and an extract from the Unified State Register of Real Estate Titles and Related Transactions of Ukraine.
Our lawyers can provide “turnkey” legal support services for any real estate transaction in Ukraine, as well as help determine what to do with the apartment or office next: what are the grounds for a foreigner to sell or lease real estate in Ukraine?
Purchase of land in Ukraine by a foreigner.
The foreigner’s right to purchase land in Ukraine is more limited than buying any other type of real estate. First of all, you must understand that land in Ukraine is divided into types, if we talk in a very extended sense: for agricultural and non-agricultural purposes.
Foreigners cannot buy agricultural land in Ukraine. At least for the time being. In summer of 2021 a land market will start working in Ukraine, and the question of lifting the moratorium on selling agricultural land to foreigners will be decided in a referendum.
Even if you, as a resident of another country, received such lands in Ukraine as an inheritance, they will have to be transferred (sold, donated, abandoned, etc.) within a year. It is true that foreigners have the right to lease, for example, gardening land.
Non-agricultural lands in Ukraine can be purchased by foreigners, but there is a difference in who acquires the land:
A foreign individual may buy land in Ukraine (purchase, inherit, acquire under the civil law contract) if it is located within the city, town, locality, or outside, provided that the person has other real there.
A foreign legal entity may buy land in Ukraine also within the city, town, locality, subject to buying real estate that is located on such land or for the construction of real estate for its business activity. Land can also be purchased outside the city, town, locality, subject to the purchase of real estate located on the land.
Please note! Restrictions apply only to those legal entities that are registered abroad. If a company is registered in Ukraine, even if it has 100% foreign funds, these restrictions do not apply to it.
If you are interested in buying land in Ukraine, our lawyers will analyze your situation and offer you the best option for buying and registering land for your needs.
Do you want to buy real estate in Ukraine? Give us a call! We will not only help you arrange a safe real estate transaction, but also carry out preliminary inspection of the real estate.
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All about Buying Real Estate in Ukraine here.