Фото: How to buy real estate abroad?

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Drobotova Liubov

Specializes in real estate registration, solving various issues related to putting into operation, reconstruction, redevelopment, unification, division of real estate objects. Land issues, concluding agreements with real estate.

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How to buy real estate abroad?

Reading time: 4 min.

Due to the start of a full-scale war, most Ukrainians were forced to start their lives far outside the borders of Ukraine. Therefore, the purchase of real estate abroad is an urgent request from our fellow citizens. In this article, the real estate specialists of our Prykhodko and Partners law office will tell you what nuances should be taken into account in the process of buying real estate abroad.

 

What should be considered when buying real estate abroad?

To begin with, we note that in the process of choosing a country for the purchase of real estate, it is necessary to take into account that purchase and sale agreements have their own peculiarities and differences. Some of them can become significant obstacles on the way to buying real estate.

Understanding the purpose of purchasing real estate abroad, you will be able to choose the desired country. For example, if you plan to rent an apartment or house, it is better to choose resort European cities. Bulgaria, Turkey, and Cyprus are among the most popular countries in this category. If your goal is to obtain the right of residence, you should consider purchasing real estate in Slovakia or Hungary.

real estate abroad

To buy real estate abroad, you need:

  • First, you need to open an account in the bank of the state where you plan to buy real estate. For example, in almost all European countries, payment for the purchase of real estate is made without cash. It is for this that you will need to open a bank account. It will not be easy to do this in all states. Some of the European financial structures do not provide such services to citizens of other countries.

As for the cash settlement during the purchase of movable property, not everything is so smooth. This is due to the fact that according to modern Ukrainian legislation, no more than 10,000 euros can be withdrawn from Ukraine without hindrance. If this amount is exceeded, it must be indicated in the Declaration. In addition, it will be necessary to provide an explanation about the origin of this money.

  • Secondly, it will be necessary to obtain a special permit for the purchase of real estate. We are talking about obtaining permission from the authorities of the city where the purchase of a house or apartment is planned.
  • Thirdly, you need to open a tax account. This is necessary for the legalization of the purchase of real estate.
  • Fourthly, for the purchase of real estate abroad, a realtor must be involved. Abroad, a realtor acts not only as an intermediary, the main goal of which is to establish cooperation between both parties. The specialist confirms to a certain extent the seriousness of the intentions of the person who plans to purchase real estate. The realtor's services are mostly paid for by the buyer.

Important: buying real estate in other states allows you to obtain the right of residence. That is, if a citizen of Ukraine wishes to obtain citizenship of a European state, the best solution may be to purchase real estate in one of the states that is a member of the European Union.

How to buy real estate abroad

Assistance of a specialist in purchasing real estate abroad

Thus, the purchase of real estate abroad is a promising and fairly profitable option for investing one's own assets.

The procedure for purchasing real estate outside of Ukraine is accompanied by unusual and difficult circumstances. However, do not panic.

Real estate specialists Prykhodko and Partners provide full legal support for transactions related to the purchase of real estate. We will provide the necessary consultations and help to safely and quickly purchase real estate outside of Ukraine. With us you can save your precious time.
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Specializes in real estate registration, solving various issues related to putting into operation, reconstruction, redevelopment, unification, division of real estate objects. Land issues, concluding agreements with real estate.

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