News

15 June 2016

Can foreigners buy property in Ukraine?

A regular question we en counter from clients enquiring about Ukraine property is whether or not hey are permitted to own real estate in Ukraine, even if they are not a citizen.

And the simple answer is yes, there are no restrictions. Providing that you are in receipt of a valid passport and a Ukrainian tax code, then no matter from which country you are from, you can buy and own property in Ukraine.

Before we go any further, what is a tax code I hear you ask? This is a document that provides individuals with a unique number, very similar to a social security number in the US or a national insurance number in the UK.

It takes around one week to get a tax code and this is something that we take care of on behalf of our clients and is not something that you need to worry about when buying property in Ukraine from us.

Having a Ukrainian tax code allows you to do a variety of things in the country, namely opening up a Ukrainian bank account and opening utility services in your personal name. So it is important to make sure you get one.

Property buying in Ukraine can be done in two ways; either with you present to sign the purchase of sale and then later (once the legal checks have been done), the final documents of sale such as the notary deeds.

Being present int he country at a certain time to complete sale documents is not always convenient and for clients that cannot make it, it is not a problem. We will send to you power of attorney documents which you ail sign, notarise and then legalise (by apostille) in your home country and then send to us.

With these documents we will be able to represent you and complete the sale in your name.

Typical conveyance fees in Ukraine will include a Governmental tax of 1% of the property value, a notary fee, after sale document registration fee and an admin/legal fee.

The notary and after sale registration fees are connected with the price of a property and will vary depending on the value.

In general, foreigners can purchase any type of property in Ukraine with the exception of agricultural land. Any land that is classed as farmland must either be owned by a Ukrainian national or the land must be re-registered.

In some cases, rural properties in Ukraine will occassionally come with agricultural land and UAP has the knowledge and experience to ensure that this gets correctly registered to our clients.

For further details about buying in Ukraine please do not hesitate to contact Uaproperty.com. We have assisted English speaking buyers to successfully purchase and own Ukrainian real estate for over 11 years and hope to help you too!

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