Owning real estate and other property in Ukraine
Foreign citizens have the right to buy and own property in Ukraine.
Your property rights are set forth in the Constitution of Ukraine and law of Ukraine "On Property". The law permits owners of property (including foreign investors and joint ventures) not only to own property but also use such property for commercial purposes, lease property, and keep the revenues, profits, and production derived from its use.
Kiev apartment cost
The apartments in Kiev cost from around $80,000 to hundreds of thousand US dollars depending on the exact location of the apartment, its quality, renovation, space and amenities.
You may purchase either a fully/partially furnished and equipped apartment renovated up to western standard, or purchase an apartment with no special renovation or furniture. The second option is far less expensive but will require you to spend some extra money on making your apartment a perfect home. Most of our clients tend to purchase apartments with very simple renovation and no furniture so that to remodel them latter they way they like.
Costs associated with the purchase of an apartment
1) Brokerage fee - around 3-5% of apartment price
2) Pension fund duty - 1% of apartment price
3) Drawing up all necessary documents and notary fees - around $50-100
4) Duties for state registration of your purchase with government officials - about $10
Typically, in order to choose and buy an apartment, you should plan a couple of short or one pretty long (up to a few weeks) trip to Ukraine, which may be an extra burden on your pocket.
When you own an apartment, you should also be willing to spend around $50 per month on public utilities.
Documents you need
In order to enter into a sale-purchase agreement, you need to have the following documents:
1) your valid passport (if you are from a country where a visa is required to enter Ukraine, with a valid visa)
2) your tax identification number on the territory of Ukraine (used for accounting and taxation purposes in Ukraine)
The tax indentification number on the territory of Ukraine can be obtained at a local tax administration office. It may take a few days to get the document. In order to save your time, we can do it for you by Power of Attorney.
Please feel free to contact us should you have any further questions about the process.