Eternity Law International News Buying Property Abroad

Buying Property Abroad

March 6, 2020


Buying property abroad. Risks and opportunities for investors from Ukraine are always there, because the investor is faced with the rules of currency control: compulsory licensing and declaration of property.

The contract of sale itself is not a currency transaction. It includes settlement with a non-resident seller in foreign currency.


In order to complete the purchase and sale of real estate, a private person is required to obtain a license for its implementation.

How to get a license can be found in instruction No. 122 of March 16, 1999, which was approved by the NBU. A notarized copy and the original document from the appraiser, which indicates the value of the object on the market, are attached to the application by the buyer.

Based on this amount, a license to purchase an object will be issued. Investments should not exceed the market value of real estate.


This document has a fixed term, so the transaction must be completed during its validity. After the buyer receives the license, a copy of it is submitted to the bank, which will transfer the funds.

Also, the amount of investment can only be changed by receiving a new document.

The NBU may revoke the license if the terms of the operation are violated. In the event of a recall, the person undertakes to return all the funds transferred to Ukraine on time.


In order to fully use the account, you must obtain permission from the NBU to transfer and store funds not in Ukraine. In the absence of a license, a fine of 100% of the amount of transfer of currency values ​​in hryvnias at the NBU rate is imposed.

Also, under currency values, the NBU understands:

  • transfer of funds to the resident’s account;
  • the presence of the balance in the account.

Under one license, you can open only one account in a foreign tank. As for the transfer of funds, it is carried out only from the resident’s account.


When using an account by a resident outside Ukraine, for the period of his stay abroad. It includes operations to open or close the couple before leaving the country. Also, a license is not obtained in the case of a foreign institution recording the resident’s operations on the account.

HOW ACCOUNT OF FUNDS HAPPENS While Buying Property Abroad

The rules of the individual license stipulate that the resident is obliged to notify the NBU territorial body of the opening of an account within three days. The procedure for submitting reports and declaring currency is also established in accordance with Article 9 of the Cabinet of Ministers of Ukraine.

Under this article, the NBU is obligated to declare currency and property outside Ukraine.

Also, a Ukrainian investor will help to obtain a loan from a foreign bank in order to purchase real estate, but exclusively in non-cash form. A loan agreement must be declared and registered with the NBU. Only after this the contract comes into force.

If you have any additional questions regarding the acquisition of real estate abroad, then Eternity Law International experts will help you in this matter, while minimizing all possible risks and problems.

You could be interested

Residency in Latvia

On May 1, 2004, Latvia became one of the countries of the European Union. This is one of the most beautiful Baltic States, which is located along the eastern shores of the amazing Baltic Sea. High level of economic freedom and low rates for taxation The tax collection system in Latvia is truly incredible. Latvia...

Investing in agriculture

The issue of investing in agriculture requires detailed consideration. There are many options for this kind of investment projects on the markets. More experienced investors are looking for profitable and promising options for investing money. Investing in agriculture is considered a stable investment option. A sufficient number of organizations and private entrepreneurs come to this...

Cryptocurrency Market Inspection

The SEC – The US Securities and Exchange Commission has initiated massive audits of the cryptocurrency business. The Wall Street Journal published this information. The source, who wished to remain anonymous, reported that the commission’s representative sent an official request to many companies active in cryptocurrencies in the United States virtual market. The agenda states...

The guide for starting a business in the Czech Republic

Here is a brief guide to help you make your selection and realize all benefits of running a business in the Czech Republic. Reasons to choose the Czech Republic In comparison to its western European competitors, the Czech Republic provides a stable economy with excellent infrastructure, a knowledgeable and trustworthy labour force, and cheaper wages...

Opening an account in a foreign bank

Opening an account with a foreign bank is an urgent issue for those involved in entrepreneurial activities. Since the services of banking organizations have become familiar to us, their role is practically not recognized. Modern banks and financial institutions offer their customers a wide range of services and products specifically designed for individuals and business...

Company registration in Malta

Registration cost 3. 775 Eur Company renewal cost 2. 875 Eur Directors number 1 Corporate tax 35.00 % Registered share capital 240.00 Mandatory reporting requirements Yes Company documents: Cost of services of a nominee director and shareholder is 1 200 EUR. Malta has been a member of the EU since 2004. Since then, Malta has...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52


1629 K St. Suite 300 N.W.


Gediminas Avenue, 44A


Kesklinna linnaosa, Tuukri 19


Lochrin Square, 1


Jacovides Tower, 5 floor


Esplanade, 7 floor

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


Level 42, Suntec Tower Three, 8 Temasek Boulevard


20 Martin Place


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7