SUPPORT FOR COMMERCIAL REAL ESTATE TRANSACTIONS, Including Remote Support
Cost of services
Reviews of our Clients
... our work on joint projects assured us of your high level of professionalism
What we offer
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Analysis of Client's needs in the purchase of commercial real estate in Ukraine;
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Elaboration of algorithm of further actions (additional inspections, collection of documents, assistance in negotiations);
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Checking of the title documents and documents of the owner(s) of commercial real estate;
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Checking of risky legal processes of the owner (including those related to the object);
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Checking for absence of encumbrances on the property at the time of check, inconsistencies in the data of documents, registry, cadastre, etc., debts, possible lawsuits and/or enforcement proceedings against the property owner/owners;
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Legal support of commercial real estate purchase transactions in Ukraine;
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Development of the lease/purchase agreement for commercial real estate;
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Obtaining expert appraisal of market value of real estate;
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Opening an investment account for non-resident, if necessary, etc.
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Remote support and representation of our client's interests, including acting on behalf of the client under a power of attorney as needed.
Documents required
What is commercial real estate, and how to prepare for its purchase?
Commercial real estate is buildings, structures or non-residential premises built into residential buildings which are not residential real estate and which are used for economic (commercial) activities for the purpose of earning profit, investment income or rental income.
This concept includes office buildings, office premises, commercial buildings or premises, integral property complexes (production facilities), hotels, garages, warehouses, agricultural facilities, etc.
As in any country, in Ukraine, in order to do business, it is necessary to have commercial real estate, which can be owned or rented.
Any choice - buying or renting, depends on many factors, such as the purpose and timing. For example, if you want to do a business, and plan to expand - then it makes sense to make a lease.
And if you implement a business plan that involves equipping production with equipment and machinery, complex for transportation, or for example - use a model that requires long-term investment, including in the commercial complex - then it is better to make a purchase, in order to protect yourself from the unexpected risks. After all, the owner always has the right to terminate the lease, and then you will find yourself in a difficult situation.
To choose the right object and to make all necessary arrangements is a difficult task, which can be solved only by specialists, because mistakes in this matter will cost you a lot.
Safe algorithm of commercial real estate purchase, which we offer you, includes:
- Development of a purchase scheme for the commercial real estate object in Ukraine;
- Verification of commercial real estate;
- Verification of the owner of the property;
- Checking of the real estate purchase and sale agreement;
- Organization of the process of buying commercial real estate and its legal support.
Service packages offers
- Legal consultation on the procedure for purchasing your selected commercial real estate property and associated risks
- Analysis of the client's situation with legal recommendations
- Review of existing documents for the property
- Assistance in setting up an account for successful transaction completion (for non-residents)
- Audit of the seller's (realtor's) authority and legality of the sales scheme
- Basic property check through public sources and registries
All services from the Light package
Additional services:
- Comprehensive check of the property, property owner, and the real estate purchase agreement in Ukraine
- Preparation of power of attorney, organization of document translations, and notarization
- Remote transaction support, including representation of the client's interests by proxy
All services from the Standard package
Additional services:
- Communication by the lawyer with other transaction parties (seller/buyer, notary, realtor, etc.)
- Legal support for the purchase of commercial real estate
- Consultation on further property registration
- Preparation of documents and support for the export of funds from the sale of property abroad (if needed)
- Verification of documents and completion of customs declarations for exporting funds from Ukraine and transiting/importing funds into a foreign country
What documents will be required for the purchase of commercial real estate in Ukraine?
To carry out the transaction of disposal of commercial real estate - the purchase and sale agreement, each party must provide:
The Seller:
- the original passport document;
- the original tax identification number;
- the original title document for the commercial property;
- the original certificate of information from the Bureau of Technical Inventory (if the property was obtained in ownership before 2013);
- the original expert opinion on the market value;
- the original technical passport;
- the original certificate of no debts for utilities;
- the original notarized consent of the spouse, if there is an official marriage;
- the original certificate of marriage,if there is an official marriage.
The Buyer:
- the original passport document (for foreign citizens - notarized translation of the passport);
- the original tax identification number;
- the original notarized consent of the spouse, if there is an official marriage;
- the original marriage certificate, if there is an official marriage.
What is the procedure for checking commercial real estate in Ukraine?
Checking the property and its owner before buying / renting will prevent the cancellation of the transaction directly at the notary due to inconsistencies in the documents, registers, or will help to avoid fraudulent schemes and save your money.
The subject of verification is both the object itself - the documents on it and the rights of its owners, and the owners themselves - their credentials and, actually, the person.
So, if there is a lawsuit, say, concerning the conduct of business activities of the company, which offers to rent or sell the object, after the transfer of such an object it may turn out that according to a court decision, the object can not be alienated. Then a new judicial proceeding regarding illegal transfer (alienation) of such an object will begin. An encumbrance may be placed on the property which will prevent it from being used.
The lawyer will analyze all the documents for their authenticity and compliance with the norms of current legislation, and if necessary - will help to prepare both independently and by resorting to proven third parties - will attract specialists (for example, to produce an electronic technical passport).
Also, the lawyer will check all the nuances associated with the purchase / lease/sublease and will offer a professional opinion, which could be decisive in taking the right decision.
The commercial real estate inspection will include:
- Inspection of the real estate object;
- Inspection of the land plot;
- Verification of construction permits, if it is a complex or building under construction;
- Verification of documents of the property;
- Verification of the owner and his powers to sell/lease the property;
- Verification or development of an agreement for the sale/lease/sublease of commercial real estate.
The depth and scope of the inspection can be adjusted based on your wishes and the object.
Actions of a lawyer while supervising the purchase of commercial real estate in Ukraine
Working with each Client within the project of providing legal support services for the purchase or lease of commercial real estate, we are ready to:
- agree in advance all the terms of purchase/lease/sublease with the parties (do not forget about realtors, with whom you also need to conclude an agreement);
- arrange the transaction with a proven, reliable, competent and reputable notary;
- monitor the actions of all parties involved in the purchase/lease/sublease of commercial real estate;
- analyze or draft an individual purchase/lease/sublease agreement, make necessary changes, if needed, or warn of the risks in cases where the other party is not ready to change the agreement;
- handling all actions related to the acquisition or disposition of real estate under a power of attorney
Our goal is a satisfied and fulfilled Client - the owner/tenant/subtenant of commercial real estate.
Why us
What difficulties may arise when buying or renting commercial real estate?
If your choice is a non-residential premise built into a residential building, the construction of which was completed recently (in a new building) - be prepared for the fact that most likely the real estate developer has no design documentation for utility services (electricity, water, sewage, heating), and to connect these services to your commercial premises you will need to develop and approve the documentation yourself.
Or, for example, you want to do business by organizing a poultry farm - you need to have or build a suitable facility. However, a foreigner cannot buy land for such a facility.
So, the only option is to buy or lease with the right to reconstruct the object. We will help you find a suitable reconstruction or new object to buy, propose a business structure and prepare all steps to implement this request for its successful completion.
Transactions with commercial real estate are a separate type of real estate transactions in the Ukrainian real estate market. It is associated with the highest risks and complexities. It is connected with several factors:
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Commercial real estate often involves more square footage, higher market value, and therefore a larger capital investment;
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Industrial complexes have their own separate status, which requires an understanding of how they are sold and what to do if you need, for example, only part of the premises;
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Industrial complexes or commercial sites are often freestanding facilities, which raises the question of buying the land on which they are located;
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etc.
Answers to frequently asked questions
Can a natural person buy commercial premises without registering as a sole proprietorship or starting a company?
Yes, the status of commercial premises does not require its owner to be an entrepreneur.
Are there any restrictions on the amount of commercial real estate that a foreign citizen can own on the territory of Ukraine?
There are no restrictions on the amount of commercial real estate that can be owned by foreign citizens or foreign legal entities. The amount of property tax depends on the number of square meters in possession.
Can I buy commercial real estate without an expert evaluation of its market value?
Yes. If the seller of the property is a legal entity, the sale may be based on the book value of the property.
Do I need to notarize a lease agreement for commercial real estate?
According to the norms of current legislation of Ukraine, if a lease agreement is concluded for a period longer than 3 years, it is subject to notarization and state registration.
How to buy commercial real estate in Ukraine with us?
If you are planning to buy non-residential real estate in Ukraine for commercial activities, we suggest you start with a consultation, where first of all we find out for what purpose (type of economic activity) the object is purchased.
It is important, because depending on the type of economic activities, there are certain requirements for the premises - for example, the Client wants to start an ophthalmic office, and sell pharmaceuticals - then it should be understood that the sale of such products will be carried out through a special room, which shall meet special requirements.
Having clarified all the nuances, we take the available documents for analysis, both for the facility and for the seller. Analyzing the documents, if they do not meet the requirements for the transaction, we inform the Client about it, and give a list of the full package of documents that are needed.
Please note! We can provide services for preparing necessary documents - for example, the Technical passport of the object, or valuation of its market value.
Parallel to the preparation of documents we check the Seller - both its legal capacity (the right to carry out such transaction with the object) and its identity.
When all documents are prepared and verified, we together with the Client approve the method of payment for such an object and, if necessary, open an investment account in the bank.
At the final stage we agree with the parties on carrying out the transaction at a convenient time for everyone at the notary, we book the time, we send a package of documents to the notary for drafting the contract.
On the agreed date we support the transaction at the notary, checking all the documents, signatures of the parties, letterheads, and the availability of extracts from the registers.
Do you intend to buy a complex or office in Ukraine? Don’t hesitate to contact us!
