Where is the best place to obtain financing for an American citizen moving to Ukraine to buy Ukrainian real es
Aug 23, 2009
in
Commercial Mortgage FAQ
I want to buy land and build apartments on the Black Sea in Ukraine. Where should I look to find agreeable financing and competent legal representation.. The U.S. or in Ukraine or both places and who should I contact to assist me in this endeavor? Any suggestions?
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2 comments
Kevin on August 23, 2009 at 4:24 pm
Because you need legal advice on Ukrainian real estate law, you MUST use a Ukrainian lawyer. I would find one in Kyiv.
You will also need a Ukrainian partner to buy land, and obtain permits to build such properties, because a Ukrainian entity must be responsible for the taxes.
Taivo on August 23, 2009 at 4:24 pm
Ukrainian property law is truly Byzantine and makes the US tax code look like a Dick and Jane reader. I have heard experts in the field talk for hours and not be able to figure out how this or that might work. Kevin is right about the Ukrainian lawyer. But, as a non-Ukrainian, you cannot own the land. You can purchase apartments that have been built on the land, but you cannot own the land.