How To Buy
How To Buy
This section gives important information. If you're thinking of buying Ukrainian property, please read it carefully.
There are two main ways to buy Ukrainian Property:
1. When clients visit us and purchase.
2. By remote purchase. This is when the client doesn't visit Ukraine, but buys from their home country.
Choose Your Property
Select from our website the Ukrainian properties for sale that you would like to view or buy and send us the reference numbers. Our web site is updated constantly and we generally post all pictures we have on file for a property.
Sometimes we have other offers , which are not on the site. So, please contact us for more information.
Please be aware that for any property you wish to buy and have paid a deposit, legal professionals will of course make thorough checks and ensure clean title.
Please also note, that for an offer you make on a property above $30,000, we sometimes require proof of funds so that we can assure the owner that the offer is serious.
It's also important to understand that a property is only considered sold when a deposit has been paid and a Purchase Agreement signed. Before this, the seller of the property is entitled to sell to another. So do not make any plans until we confirm that the deposit has been received and the owner has signed the agreement to sell.
Arrange Your Visit
1. We agree a date and time for your visit.
2. Then you need to arrange your own flights and let us know your arrival time at Kiev Airport (or train/coach stations).
How long should you stay? Allow about 2 days to view property and at least one working day to do the legal paperwork if you want to buy. Important: the lawyer and Notary office aren't open on a week-end, so make sure you stay for at least one weekday to do any legal paperwork.
If you already have plans to be in Kiev, then all we need to do is fix a time for you to meet one of our representatives. Our staff speak English and Russian.
What to Bring
This is very important if you wish to buy property on your visit, so please read this section carefully.
1. Please bring with you funds to cover a deposit for a property (usually around $1500 for houses that cost under $10,000). Or ensure that you have the ability arrange a bank transfer of the deposit.
2. Around $400 will be required for obtaining your tax code and associated translations. A side note on tax codes; these are very useful to have in Ukraine and are similar to an American social security number. It will give you the ability to do things like open a Ukrainian bank account, get an account with utility companies etc. They do not expire and you only ever need to get one once.
3. And, of course, don't forget to bring some money to cover living and travel costs during your visit.
4. Once legal checks have been completed on the property and the Notary officer is ready to complete, the final balance and remaining purchasing costs will be due.
Sale closings will typically happen a couple of weeks after an initial visit and if you are unable to attend in peron do not worry, you can issue. our office manager with a limited Power of Attorney to complete in your name and on your behalf. Most sale closings will happen with a notary officer that is local to the property and/or seller so please keep this in mind if you intend to revisit for final signing.
Any Power of Attorneys that are given to us are limited and only give us the ability to act on your behalf and in your interests for the sale only. They can be rescinded after sale completion.
Transport
Our office can assist you in making arrangements to see property. We ask that clients cover our transport costs. In general, we do not charge more than $150 for travelling 250kms. This is refundable if you buy the property.
The Buying Process - Buying Remotely
Foreign citizens have the right to buy and own property in Ukraine. The law permits owners of property (including foreign investors and joint ventures) not only to own property but also to use such property for commercial purposes, lease property, and keep the revenues, profits, and production derived from its use, after all necessary taxes are paid.
1. If you are buying remotely and are unable to visit the house beforehand the process will be a little different than if you were to visit. The first step would be to reserve the property via a deposit and if you have not viewed the house beforehand, a representative of ours would go to visit the property in person. Photos and where possible videos would be taken of the property to ensure that it matches the condition of the description as some time may have passed since advertising pictures were taken. This gives our clients extra security and peace of mind when buying remotely.
If you decide to not proceed after getting the images you can cancel your offer and your deposit would be refunded less the $150 viewing fee.
Also please understand that a property is not sold until the deposit has been received and Purchase Agreement signed.
2. The next stage is to begin the legal paperwork for the sale. Whilst there are no restrictions for foreigners to buy remotely there is extra legal work involved than if a native citizen was purchasing. These include obtaining Power of Attorneys, a tax code, legal translations of documents and paperwork, notarisations of all paperwork, purchasing tax, after sale registration of new owner's paperwork.
The last point is important; it is the responsability of the buyer in Ukraine to ensure that they properly register the property with local authorities. This helps to prevent any potential issues further down the line when you wish to sell. We as a company will do this on your behalf and it usually involves visiting the local municipality. If you intend to do this yourself please let us know.
To give a rough guide on what to expect, buying costs will usually be around $2300 for properties around $10,000 and will stay roughly the same up until about $25,000.
We are always transparent with paperwork and copies of important documents such as Power of Attorney's will always be sent to you to check before they are signed. These will be in English (if you require them in another language please let us know).
3. When we have received back from you the Power of Attorney the notary officer will begin legal checks of the house. Unlike some countries, the notary officer in Ukraine does not represent either party but the state. They have a legal responsability to ensure that title is transferred free and clear.
If you wish to have your own legal professional check the paperwork this is not a problem although do factor their costs in ontop of the existing buying fees.
4. When the notary officer is ready to conclude the sale (this typically happens about 4 weeks after deposit is paid), then at this stage the final balance is due along with buying costs. The notary deeds will be transferred into your name and property registered by ourselves with the relevant state authorities. You will now be the legal owner of your property in Ukraine.
What if a sale is cancelled before I complete?
It’s rare for a sale not to go through after the deposit is paid. It only happens if there is a significant legal issue or damage sustained to the property. If this happens, you get your deposit back.
But if you just change your mind after paying a deposit, you won’t get it back and may be liable for costs up to that point, so only agreed to buy property if you really want it.
After sale services
We have many years experience in organising building works and rental management. We can offer you a wide range of support services, if required.
If we don’t provide a particular service, we are happy to recommend outside service providers, such as immigration lawyers.
FAQ
1. How much are property taxes in Ukraine?
Much less than in USA or Western Europe. In Ukraine, property tax is not on the value of the property. It depends on the size of the plot and house how many properties you own. But to give an idea, a small house in the country would be charged around $20. And for an apartment in the city under 65 m², no tax if it's your only property.
2. Can I open a bank account in Ukraine?
As long as you have a tax code, yes you can open a bank account. UAproperty will get your tax code as part of your purchase of the property.
3. Can foreigners buy farmland?
There are restrictions on foreign ownership of farmland in Ukraine. It is possible to own this via a Ukrainian limited company however, this can be a very expensive method of owning property due to the high running costs in maintaining a Ltd company. Another option is to hold farmland on a long term lease or Power of Attorney (up to 49 years).
4. Can I get planning permission to build a house?
If the plot is categorised for building, then you simply send a declaration to build.
We have a wider and helpful FAQ section that can be found by clicking here.