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How to buy an apartment in Kyiv safely for a foreigner?

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There are a few simple rules that will help you safely invest your money in real estate in Ukraine:

  • Check the reliability of the developer if you are planning to buy an apartment in a new or under construction house;

  • Check the "clean" history of the apartment and its owner, if you are buying an apartment that has already been in the past;

  • Carefully read the contract for the purchase and sale of the apartment;

  • Make sure that you and the seller have all the necessary documents and authorizations for such a procedure.

It is also important to think about how you are going to pay for the apartment, including how the money will come into Ukraine. If you want to sell the apartment in the future, when you make a withdrawal to a foreign account you will be asked how you got them in Ukraine in the first place. 

To these and other questions about buying property in Ukraine we will answer today.

Related article: Can I sell my apartment in Ukraine if I am a non-resident?

First things first: check the property

Real estate checks
 can be of varying depth and direction. It all depends on how "risky" the property is and what you want to do with it next.

In very general terms, our standard inspections include:

  • Checking the object itself - if the apartment has already been owned, we will check its history and the most problematic issues, such as illegal alterations, complaints from neighbors, etc. If it is a new apartment, where no one has ever lived before, you need to check whether there are all the permissions for the construction of the object, the land on which the object stands, the absence of legal proceedings with the developer, etc;

  • Check the seller - you should accurately understand that the seller has the authority to commit the sale, how many owners of the property, whether they all agree to sell their part, etc. Checking for debts on the owner, the reputation of the builder and more ;

  • Verification of the contract to be signed - it should protect your interests, have clear provisions for the possibility of conflict resolution, be current and legal.

Related article: Checking of real estate before buying in Ukraine

Very important: Prepare properly for the real estate transaction itself

As a foreigner, before buying an apartment in Kyiv or another city, you will need to prepare:

  • Identification tax code in Ukraine;

  • Notarized translation of passport.

Remember that the transaction will need to be conducted with a Ukrainian notary. You should come to such a notary together with a certified interpreter, if you do not know and do not understand the Ukrainian language. Just an acquaintance will not do - you need an interpreter with the appropriate degree or certificate.

Note: you do not need to come to the deal in person, if there is no such an opportunity. Instead you can conclude it is a lawyer on the power of attorney, although it does not always suit the sellers.

The algorithm of purchase of the apartment by a non-resident in Ukraine will look as follows:

  • Obtaining TIN in Ukraine (1-2 days);

  • Opening of the account in Ukraine (1 day);

  • Visiting notary and signing contract for buying and selling an apartment (1 day);

  • Paying Purchase Fee (payable directly at the Notary's Office).

Our company helps in the process of buying an apartment in Ukraine from A to Z, guaranteeing your safety. 

Views: 897