TRP when buying real estate in Ukraine
A non-resident (foreigner) can receive a residence permit in Ukraine in many ways. However, according to the law, a residence permit is not provided when buying real estate.
The specialists of Prikhodko & Partners Law Firm are ready to explain in details why it is impossible to obtain a residence permit through the purchase of real estate in Ukraine, as well as to offer options for legalizing a foreigner’s stay in the country in other ways.
What is the reason for the popularity of the idea of TRP for real estate?
A huge number of such requests as “Residence permit when buying real estate 2020” were made through the searching systems. What are the reasons for the attractiveness of this idea?
- Firstly, the purchase of real estate has always been a good way of investing money.
- Secondly, Ukraine is a European country that has close relations with the EU countries.
Important! Those who are not acknowledged with jurisprudence believe that a residence permit for the purchase of real estate can be equated with obtaining a residence permit by investing in the economy. This is a misconception!
According to Clause 3, Part 2, Article 4 of Law No. 2491-III “About Immigration” from June 07, 2001, an immigration permit can be obtained by “persons who have invested in the economy of Ukraine with foreign convertible currency in the amount of at least 100 thousand US dollars”.
At the same time, the acquisition of real estate is the satisfaction of one’s own needs (solving the housing issue or generating income by renting out the real estate object). Such investment of money does not contribute to the development of the country’s economy.
For your information! At the request “Residence permit when buying real estate 2020” we are not talking about Ukraine. Among the European countries where it is really possible to arrange a legal long stay by buying a home are Latvia, Malta, Portugal, Spain, Greece. At the same time, the cost of real estate, which should be purchased in order to obtain a residence permit, is about 200-250 thousand US dollars.
What are the alternatives to a residence permit through the purchase of real estate?
If the choice of Ukraine for receiving of a residence permit is fundamental for a foreigner, real estate may be bought for their personal needs. But resident status will have to be obtained in a different way. Migration lawyers at Prikhodko & Partners Law Firm analyze each individual situation in details, and then develop several alternative options for achieving the goal.
What options are offered instead of a residence permit for real estate?
Establishing your own company in Ukraine.
Employment / studying at a university.
Permanent residence for the period established by law.
Advice! If you are determined to invest money, but obtaining citizenship when buying real estate is impossible, the best option is to register a business in Ukraine. Lawyers and attorneys of our company are ready to accompany you on this path until you receive a permanent residence permit on the basis of a foreign investment within period of six months – a year from the start of registration.
Migration lawyers at Prikhodko & Partners Law Firm will offer the best options for obtaining a temporary or permanent residence permit in Ukraine, and will help you go through the registration procedure. Contact us!