Buy Apartment in Ukraine
We do provide full legal support for apartment purchase in Ukraine. We are very experienced in real estate and our solicitors and lawyers have more than 10 years of legal practice in construction and property law. We offer comprehensive legal support during the apartment buying process.
We will assist you at each stage of the process, beginning with money transfer and opening an investment account till the day you obtain ownership documents for your apartment in Ukraine. We can provide a written guarantee and will be responsible for your successful apartment purchase in Ukraine. The cost of our services is only 1% of the cost of the property. We will support you if you intend to buy an apartment in Kiev or nearby the capital.
We are happy to share with you the practical information provided by our real estate lawyers below. This information will help you understand how to buy your residential property in Ukraine.
How to buy an apartment in Ukraine?
Foreign citizens have the right to buy and to own any kind of apartments in Ukraine. There are no restrictions on buying any kind of property in Ukraine, except agricultural land. Also, the number and size of apartments that a foreigner can own are unlimited. You can acquire an apartment in Ukraine for personal use, as an investment, or for rent. Foreigners in Ukraine do have the same rights in buying apartments as Ukrainian citizens. In this article, we will inform you about the particulars of the Ukrainian apartment acquisition process. Generally, there are two legal ways to buy a flat in Ukraine:
- Acquire already registered real estate from an owner (so-called secondary real estate);
- Buy an unfinished apartment from a developer company (so-called primary real estate);
Now you’re probably wondering, why buy an unfinished apartment when it is inconvenient to have to wait sometime before moving in? Well, Ukrainian tax law heavily favors the purchase of “primary” (unfinished) apartments. Basically, when you buy a primary property you pay a fixed tax of 0.5-2%. When you buy a secondary (move-in ready) property, you must pay between 3.5% and 8.5% in tax and notary fees. So, there is a real tax incentive to buy an unfinished apartment in Ukraine.
In most of the developed world, investing in a construction project entails some waiting, but at the end of the process, you can expect to receive a finished apartment. However, in Ukraine, an apartment is considered finished once the bare walls have been put up and the building has been officially approved by the State Architecture and Building Inspectors of Ukraine. This means that after you have made the full payment for your property, you will still need to hire a contractor to finish the interior of your flat. If you do decide to purchase a primary property in Kyiv, we at Capital Law Consulting will assist you with finding a reputable and reliable contractor for this end.
If you are not a citizen of Ukraine and you do not have a residence permit, first of all, you need to transfer funds to Ukraine. It is common practice to acquire property via purchase from a private investment account. We can assist you in opening an investment account at a Ukrainian bank. You can not buy any property in Ukraine from a non-Ukrainian bank account. Consider that money transfer (including account opening) can take more than one week. So please consider this before you start the apartment purchase process in Ukraine. Read More...
