Buying a property in Ukraine and obtaining Ukrainian residency
Under Ukraine’s immigration law, you can obtain Ukrainian residency if you invest at least 100,000 dollars in real estate. You must invest through the Ukrainian’s Cabinet of Minister’s regulations. Foreigners who desire to receive a residence permit in Ukraine must know that buying a property worth 100,000 dollars will not result in permanent residency. Conditions for obtaining residence in Ukraine through the purchase of a property are as follows:
• If you want to invest in Ukraine, you must register for a company in this country.
• The investment must be at least 100,000 US dollars.
• The investment must be in a foreign currency.
These currencies are the dollar, euro, pound, franc, krone, yuan, and yen.
• Ukraine’s Ministry of Economy must officially register the investment.
• The source of the money invested must be pure.
• Buying a property to meet personal needs, such as living or renting, will not give you a residence permit, as this will not lead to Ukraine’s economic development. The best way is to register a company first, which not only brings profit for a person but also helps the Ukrainian economy.
The applicant must buy the property by one’s registered company if one wants to obtain Ukrainian residence through investment. In such cases, it should be noted that the company that purchased the property will formally own it, although, over time, it is possible to change the ownership. The applicant can rent or live in the property purchased by the company.
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Buying a property in Ukraine and people who are qualified to buy a property
There are no restrictions on buying property in Ukraine. Foreigners can buy a property in this country from every nationality. The buyer will legally own this property completely, with any citizenship. Since it is not possible to obtain residence in this country just by buying a property, a foreign investor can obtain residence in Ukraine without any restrictions and with a minimum amount of 100,000 dollars. We will discuss the critical points about buying property and investing in this way in the following. The experts in MIE Austria have prepared this article for you, and any copy of it is illegal.
The legal process of buying a property in Ukraine
The applicants can register a company in Ukraine to obtain this country’s residency. It means injecting funds into the fixed capital of a company after the company is registered in Ukraine. This company can do all variety of business, and there are no restrictions on investment, trade, export, and import activities, and the company’s shares can be used to buy a property. The minimum amount required is 100,000 dollars. Obtaining Ukrainian residency through this investment involves a series of steps.
You must first obtain a no criminal record certificate from your country, then a medical certificate proving that you are not addicted and do not have an infectious or sexually transmitted disease. The next step is to open a bank account in Ukraine under your name and transfer 100,000 dollars to it. After that, you must register a limited liability company (LLC). You must then obtain a certificate from your bank in Ukraine confirming your investment and transfer of money. You can then apply for residency with your family, which will be a permanent residence from the beginning.
- First step
The application must be submitted to the Immigration Office of Ukraine at the place of residence. It can take up to a year to obtain a residence permit (the Immigration Office usually responds within six months)
- Second step
After receiving a residence permit, if you are outside Ukraine, you must apply for a Type D (tourist) visa from the Ukrainian Embassy in your country.
- Third step
In this method, you can apply for permanent residence immediately. Due to the time-consuming process of issuing a permanent residence card in Ukraine, it is best to first apply for a one-year temporary residence permit. You can get a work permit as a CEO in your registered company.
It is essential to have a professional lawyer in the field of property purchase and company registration that is familiar with the residence affairs of Ukraine.
The cost of buying and renting a property in Ukraine
The fee for buying a property in the capital of this country (Kyiv) is higher than in other Ukrainian cities. You can buy a property in Kyiv for about 50,000 dollars. However, only by purchasing a property worth 100,000 dollars and registering a company, you can obtain a residence permit in Ukraine. The Ukrainian citizens can get a loan to buy a property in this country. The rental fee for a two-bedroom apartment in Kyiv is about 200 to 300 dollars per month, which will vary according to the location of the property.
Investment in Switzerland by buying a property
You can get a residence permit of some countries by buying a property in that country but buying a property in Switzerland does not make you a Swiss resident. Only people who get the residence permit of Switzerland can buy properties in this country without any limitations. Therefore, buying a property is only for the purpose of investing and making a profit.
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