Acquisition of real estate abroad - a case in which no legal and realtor maintenance is indispensable. This is exactly the case when, on the one hand, to save a few thousand dollars, then you can lose hundreds of thousands.
On the other - on foreigners buying property overseas, do not earn only lazy, and sometimes have to pay twice before the conclusion of the transaction.
Search facility
Information about apartments, offices, villas and plots abroad without any problems can be found on the Internet. However, the proposal directly to the seller - a rarity. In most ads Shown real estate agencies in the best case - hired by the seller, at worst - have received information about the object from other intermediaries. Obviously, the length of the chain of intermediaries between buyer and seller directly affect the cost of the latter.
Search real estate
Property Abroad
Real estate in Spain
property in Turkey
Real Estate in England
Real Estate France
Real Estate in Italy
Real Estate Brazil
Add your advert
Commission one agency involved in the chain, ranging from 0.5 to 6% of the value of the object. In the event that Agent employs seller fees are usually included in the price. We note in this connection that many construction and development companies in Spain, Italy and Cyprus have officials in Kiev - employed or specially created agencies to promote sales.
If we are talking about the secondary market, the agency, in direct contact with the seller, it is better to look for in the country you are interested in. You can use in the search for a local association of Realtors. Usually information about the participants of the market associations provide free of charge.
Of course, mere participation in professional association does not guarantee the integrity Realtor, but if he is not part of the association, then taking it offers quite risky. Potential sources of information about us: the local Chamber of Commerce, the Consul of Ukraine, other investors and intermediaries.
Often, real estate services provide travel agencies their geographical specialization - consulting and real estate business in Bulgaria, Turkey and Cyprus. Most travel agencies, realtors do not work directly with vendors and local resellers.
before the offer
By choosing a suitable object, and making sure that the realtor is not an adventurer and extreme link in the long chain of intermediaries, it is necessary to find out what are the characteristics of purchase real estate by non-residents and any form of ownership exist in a particular country. General information on this subject can be obtained independently, and later to order the appropriate help at an international law firm.
It should be noted that in some states non-resident may not be the subject of ownership of real estate and / or land. If such a ban exists, you should find out, whether it is for legal entities.
For example, in the Czech Republic (where the sale of apartments and houses is prohibited only to non-resident natural persons) with the purchase of objects to legal entities, registered aliens, make out leases of plots on which they are located. Accordingly, in such countries, it is important to check their advance termination of leases and land use.
If the landlord - not a private owner, and state structure or municipality, then the acquisition of property should be abandoned. This convinced Natalia Lemma, director of the Ukrainian representative office of International Legal Services, which purchased the previous summer house on municipal land near Prague.
Just two months ago the lease was terminated and the land acquired for the construction of a Czech company logistics center. The new owner of the land intends to demolish the house and to compensate legal entities registered in the Czech Republic, a citizen of Ukraine, the cost of the building. The amount of compensation determined by appraisers Czech, Ms. lemma is not satisfied.
The absence of an outright ban on the sale of real estate to foreigners in some cases compensated by a number of obstacles. Says Tatiana Lyaschenko, Director of Oxford Group: «We were asked for legal advice from a Ukrainian citizen who wants to buy a villa on a small Greek island. Greeks, which we have not worked, were ready to make a deal, despite the fact that the island was in the border waters.
To purchase this property Local laws require non-resident permit Defense Ministry of Greece. Get the document rather difficult (this may take up to six months), and if we are talking about an object on the border island - almost impossible.
Nevertheless, enterprising Greeks promised to arrange a deal for two months, calling the resolution a mere formality, asked for payment in advance. I do not know how many gullible foreigners "sold" the villa, but I'm sure that none of them could not register the ownership of it. "
Before you decide to buy, you need to find out also what rights the seller is going to transfer to the buyer. For instance, apartments in London buildings are sold, as a rule, only leasehold. This type of ownership (as opposed to full private ownership - freehold) is akin to a long-term lease (for a period of 70 to 999 years), the landlord in this case is the owner of the land on which the facility is located.
At the end of the lease term owner of the apartment on the basis of leasehold (the origins of which - in the case-law of the Anglo-Saxon and medieval traditions by beneficial), in fact, loses rights to it. This, of course, exotic, but in principle in each country has its own peculiarities transfer of ownership of real estate.
In Greece not every property can be transferred by inheritance. In the same Czech Republic there five options for the implementation of property rights, one of which involves Collective decision-making on alienation, and so on. D.
Agents and procedure
Thus, the assurances of realtors that the payment due diligences object included in the fees should not be taken at face value. It is better to hire an independent lawyer, and first find out the status of legal non-resident in a country (county, state, and so on. D.).
In the UK, for example, a foreigner has the right to accompany the transaction, to conduct due diligences, but local authorities to respond to its requests are not required, as the lawyer-resident is not an attorney - solicilor.
So when you make a transaction in England lawyer is likely to offer more and take advantage of the services solicilor. Accordingly, the easier and cheaper to immediately hire the services of local lawyers (do not forget to gather information about a particular company in the National Law Association).
In Turkey, Bulgaria, Spain and other countries in which the real estate are particularly interested in Russians and Ukrainians, has emerged a special category scam - Specialists in relatively honest money weaning the rich people from Eastern Europe.
Ukrainian Realtors call these adventurers sovkovedami. They are fluent in Russian, represented by intermediaries or attorneys and sellers trying to sell foreign objects in a pledge, if not do not belong to the alleged sellers.
Presale legal and technical expertise of the object takes on average a month or two. In some countries, prior to the due diligences customer asked to pay a deposit of 10% of project cost. When this is the preliminary contract where fixed intention of the parties for the sale, the obligations and conditions refund of the deposit.
It is usually transferred to the account of the seller or the lawyer of the local municipal notary. "On the theft of the deposits often ply Swindlers - says Tatiana Lyaschenko. - Especially if they bring in cash. Less often unscrupulous sellers, brokers or lawyers collude with the top management of small local banks, which tranche buyer lost and begin the long legal proceedings. "
Panacea is simple: either do not pay a deposit, or open the corresponding deposit in a major international bank (preferably in the fact that you are a client).
According to the results of the pre-examination to get clear answers to four fundamental questions:
whether the seller is the sole owner of the facility;
not whether the object is in the pledge;
whether a buyer could be the owner of the facility;
What are the risks of losing the acquired property rights.
The answer to the first question is to receive copies of legal documents (certificate, act, title, and so on. D.) On the right of ownership containing the name of the owner. If more than one, each must give written permission for sale.
Interests of minors or incapacitated, referred to in the certificate must also be taken into account when selling real estate. On the second question are generally responsible fiscal authorities, the municipality, local government Justice, the telephone company, and so on. D.
On the third - the national legislation. On the fourth - all of these sources combined. If the answer to any of the four questions raises concerns, the customer better to return deposit. Corresponding right makes sense to include in pre-sales contract.
due diligence
Dmitry Kiselev, lawyer of "Beiten Burkhardt Rehtsanvaltsgezelshaft Mbh. »
- Buying property abroad is, in fact, investment activities regulated by, among other things, the legislation on foreign exchange control. In particular, according to a government decree № 15-93 (from 19.02.1993, as amended), to carry out currency operations of residents Ukraine must obtain an individual license NBU.
To do this, follow the instructions of the National Bank, it is necessary to provide in its territorial (regional) control the following documents:
application form;
notarized copies of agreements with foreign partner resident (in the original language, as well as a certified translation into Russian or Ukrainian) with mandatory indication of bank details of the parties;
copy of the registration facility investment abroad (an extract from the trade, bank or court Registry), unless otherwise provided by the laws of the host country (in some cases, registration takes place only after the funds);
information on non-resident bank account details and for which funds are transferred;
document confirming payment for the license.
The term of a license - 40 days of receipt of these documents NBU. However, in practice the process is often delayed because the documentation provided is subject to verification and may be returned to the applicant (repeatedly) to address the comments.
The license should be listed expiration date, sufficient for the investment. Instruction of the National Bank provided reasons for cancellation of an individual license, in which case the investor is required in a timely return to Ukraine the appropriate means (including the proceeds).
Ukrainian legislation does not provide for any payments (duties, fees) in connection with the acquisition of real estate abroad. Accordingly, the tax liability from a resident in Ukraine arise only if he receives the income (for example, rent) from the property.
On the other - on foreigners buying property overseas, do not earn only lazy, and sometimes have to pay twice before the conclusion of the transaction.
Search facility
Information about apartments, offices, villas and plots abroad without any problems can be found on the Internet. However, the proposal directly to the seller - a rarity. In most ads Shown real estate agencies in the best case - hired by the seller, at worst - have received information about the object from other intermediaries. Obviously, the length of the chain of intermediaries between buyer and seller directly affect the cost of the latter.
Search real estate
Property Abroad
Real estate in Spain
property in Turkey
Real Estate in England
Real Estate France
Real Estate in Italy
Real Estate Brazil
Add your advert
Commission one agency involved in the chain, ranging from 0.5 to 6% of the value of the object. In the event that Agent employs seller fees are usually included in the price. We note in this connection that many construction and development companies in Spain, Italy and Cyprus have officials in Kiev - employed or specially created agencies to promote sales.
If we are talking about the secondary market, the agency, in direct contact with the seller, it is better to look for in the country you are interested in. You can use in the search for a local association of Realtors. Usually information about the participants of the market associations provide free of charge.
Of course, mere participation in professional association does not guarantee the integrity Realtor, but if he is not part of the association, then taking it offers quite risky. Potential sources of information about us: the local Chamber of Commerce, the Consul of Ukraine, other investors and intermediaries.
Often, real estate services provide travel agencies their geographical specialization - consulting and real estate business in Bulgaria, Turkey and Cyprus. Most travel agencies, realtors do not work directly with vendors and local resellers.
before the offer
By choosing a suitable object, and making sure that the realtor is not an adventurer and extreme link in the long chain of intermediaries, it is necessary to find out what are the characteristics of purchase real estate by non-residents and any form of ownership exist in a particular country. General information on this subject can be obtained independently, and later to order the appropriate help at an international law firm.
It should be noted that in some states non-resident may not be the subject of ownership of real estate and / or land. If such a ban exists, you should find out, whether it is for legal entities.
For example, in the Czech Republic (where the sale of apartments and houses is prohibited only to non-resident natural persons) with the purchase of objects to legal entities, registered aliens, make out leases of plots on which they are located. Accordingly, in such countries, it is important to check their advance termination of leases and land use.
If the landlord - not a private owner, and state structure or municipality, then the acquisition of property should be abandoned. This convinced Natalia Lemma, director of the Ukrainian representative office of International Legal Services, which purchased the previous summer house on municipal land near Prague.
Just two months ago the lease was terminated and the land acquired for the construction of a Czech company logistics center. The new owner of the land intends to demolish the house and to compensate legal entities registered in the Czech Republic, a citizen of Ukraine, the cost of the building. The amount of compensation determined by appraisers Czech, Ms. lemma is not satisfied.
The absence of an outright ban on the sale of real estate to foreigners in some cases compensated by a number of obstacles. Says Tatiana Lyaschenko, Director of Oxford Group: «We were asked for legal advice from a Ukrainian citizen who wants to buy a villa on a small Greek island. Greeks, which we have not worked, were ready to make a deal, despite the fact that the island was in the border waters.
To purchase this property Local laws require non-resident permit Defense Ministry of Greece. Get the document rather difficult (this may take up to six months), and if we are talking about an object on the border island - almost impossible.
Nevertheless, enterprising Greeks promised to arrange a deal for two months, calling the resolution a mere formality, asked for payment in advance. I do not know how many gullible foreigners "sold" the villa, but I'm sure that none of them could not register the ownership of it. "
Before you decide to buy, you need to find out also what rights the seller is going to transfer to the buyer. For instance, apartments in London buildings are sold, as a rule, only leasehold. This type of ownership (as opposed to full private ownership - freehold) is akin to a long-term lease (for a period of 70 to 999 years), the landlord in this case is the owner of the land on which the facility is located.
At the end of the lease term owner of the apartment on the basis of leasehold (the origins of which - in the case-law of the Anglo-Saxon and medieval traditions by beneficial), in fact, loses rights to it. This, of course, exotic, but in principle in each country has its own peculiarities transfer of ownership of real estate.
In Greece not every property can be transferred by inheritance. In the same Czech Republic there five options for the implementation of property rights, one of which involves Collective decision-making on alienation, and so on. D.
Agents and procedure
Thus, the assurances of realtors that the payment due diligences object included in the fees should not be taken at face value. It is better to hire an independent lawyer, and first find out the status of legal non-resident in a country (county, state, and so on. D.).
In the UK, for example, a foreigner has the right to accompany the transaction, to conduct due diligences, but local authorities to respond to its requests are not required, as the lawyer-resident is not an attorney - solicilor.
So when you make a transaction in England lawyer is likely to offer more and take advantage of the services solicilor. Accordingly, the easier and cheaper to immediately hire the services of local lawyers (do not forget to gather information about a particular company in the National Law Association).
In Turkey, Bulgaria, Spain and other countries in which the real estate are particularly interested in Russians and Ukrainians, has emerged a special category scam - Specialists in relatively honest money weaning the rich people from Eastern Europe.
Ukrainian Realtors call these adventurers sovkovedami. They are fluent in Russian, represented by intermediaries or attorneys and sellers trying to sell foreign objects in a pledge, if not do not belong to the alleged sellers.
Presale legal and technical expertise of the object takes on average a month or two. In some countries, prior to the due diligences customer asked to pay a deposit of 10% of project cost. When this is the preliminary contract where fixed intention of the parties for the sale, the obligations and conditions refund of the deposit.
It is usually transferred to the account of the seller or the lawyer of the local municipal notary. "On the theft of the deposits often ply Swindlers - says Tatiana Lyaschenko. - Especially if they bring in cash. Less often unscrupulous sellers, brokers or lawyers collude with the top management of small local banks, which tranche buyer lost and begin the long legal proceedings. "
Panacea is simple: either do not pay a deposit, or open the corresponding deposit in a major international bank (preferably in the fact that you are a client).
According to the results of the pre-examination to get clear answers to four fundamental questions:
whether the seller is the sole owner of the facility;
not whether the object is in the pledge;
whether a buyer could be the owner of the facility;
What are the risks of losing the acquired property rights.
The answer to the first question is to receive copies of legal documents (certificate, act, title, and so on. D.) On the right of ownership containing the name of the owner. If more than one, each must give written permission for sale.
Interests of minors or incapacitated, referred to in the certificate must also be taken into account when selling real estate. On the second question are generally responsible fiscal authorities, the municipality, local government Justice, the telephone company, and so on. D.
On the third - the national legislation. On the fourth - all of these sources combined. If the answer to any of the four questions raises concerns, the customer better to return deposit. Corresponding right makes sense to include in pre-sales contract.
due diligence
Dmitry Kiselev, lawyer of "Beiten Burkhardt Rehtsanvaltsgezelshaft Mbh. »
- Buying property abroad is, in fact, investment activities regulated by, among other things, the legislation on foreign exchange control. In particular, according to a government decree № 15-93 (from 19.02.1993, as amended), to carry out currency operations of residents Ukraine must obtain an individual license NBU.
To do this, follow the instructions of the National Bank, it is necessary to provide in its territorial (regional) control the following documents:
application form;
notarized copies of agreements with foreign partner resident (in the original language, as well as a certified translation into Russian or Ukrainian) with mandatory indication of bank details of the parties;
copy of the registration facility investment abroad (an extract from the trade, bank or court Registry), unless otherwise provided by the laws of the host country (in some cases, registration takes place only after the funds);
information on non-resident bank account details and for which funds are transferred;
document confirming payment for the license.
The term of a license - 40 days of receipt of these documents NBU. However, in practice the process is often delayed because the documentation provided is subject to verification and may be returned to the applicant (repeatedly) to address the comments.
The license should be listed expiration date, sufficient for the investment. Instruction of the National Bank provided reasons for cancellation of an individual license, in which case the investor is required in a timely return to Ukraine the appropriate means (including the proceeds).
Ukrainian legislation does not provide for any payments (duties, fees) in connection with the acquisition of real estate abroad. Accordingly, the tax liability from a resident in Ukraine arise only if he receives the income (for example, rent) from the property.
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