Residence permit when buying real estate in Ukraine

Foreigners are allowed to buy real estate in Ukraine. At the same time, questions often arise as to whether it is possible to obtain a residence permit in our country on this basis. If you are interested in this and other issues in the context of migration law, you can contact the lawyers of the Prikhodko & Partners Law Firm. Our specialists will help you efficiently – from consulting to legal support of the necessary procedures. In the meantime, let’s touch on the general outlines of what a foreigner needs to obtain a residence permit in our country by purchasing real estate.

Is the purchase of real estate the basis for obtaining a residence permit?

When we talk about a residence permit for investors, we are talking about investing in the Ukrainian economy in the amount of 100 thousand US dollars or more. This refers to investments, not to the purchase of real estate by an individual for the purpose of residence. Therefore, it is impossible to simply buy an apartment or house for this amount and obtain a residence permit. But there is another way to do it. Let’s take a closer look at it.

The purchase of real estate in Ukraine can be considered an investment if the property is purchased by a company. So you can do it as follows:

1. register a legal entity in Ukraine;
2. deposit the required amount into an account;
3. buy real estate on behalf of the company.

An important aspect that you need to know to make these plans realistic is that a foreigner who plans to obtain a residence permit must hold at least 51% of the share in the company’s management.

Thus, there is an option to obtain a residence permit by purchasing real estate. You just need to know how to use it correctly. Our specialists regularly provide support for such cases, so we understand this topic from the inside and can help you really well.

Are there any restrictions for foreigners to buy real estate in Ukraine?

Not all real estate is available for purchase when it comes to citizens of other countries. For example, a foreigner cannot own land for agricultural purposes. Therefore, land can only be purchased within urban areas. The only exception is when a foreign national purchases land outside the city limits where there is already a real estate object in his or her possession.

Despite these restrictions, there is still a large number of real estate properties available for foreigners to purchase.

What do I need to buy an apartment?

Before purchasing an apartment in Ukraine, a foreigner must obtain a certificate of RNOKPP (identification code) from the State Fiscal Service. The application must be accompanied by a passport translation, which must be notarized. It takes up to 10 days to issue a certificate of RNOKPP. All these preparations are necessary so that a foreigner can then open a bank account and purchase real estate.

If you choose an apartment as real estate, it can be either in a new building or on the secondary market. As a rule, a newly built apartment is subject to reservation before purchase. The amount of real estate purchase taxes usually depends on the specifics of the legal scheme used by the developer. For example, it can be 2% of the price of the apartment and the registration fee that must be paid for the registration of ownership.

As for buying an apartment on the secondary market, there are many aspects to consider and a number of pitfalls to avoid in order to avoid buying a property with a problematic history. When providing services to their clients, the lawyers and attorneys of Prikhodko & Partners know how to check an apartment before buying it so that it can truly become a safe investment decision.

How can we be of service?

Our team provides the following services:

• Consultation. During the consultation, you will learn the key aspects related to the acquisition of real estate and the subsequent issuance of a residence permit. We will evaluate specific prospects based on the specifics of your request and give recommendations that will help you avoid risks.
• Legal support. This means full support and representation in all matters that do not require your personal presence. We will perform a representative function wherever necessary and simplify many legal processes for you.

The team of Prikhodko & Partners Law Firm employs specialists who have practical experience in preparing various documents for foreign citizens, so you can be sure that the quality of our services will be at the highest level. Fill out the form on the website and our lawyer will contact you shortly.