How To Get Ukrainian Permanent Residence By Buying Property
According to the Law of Ukraine On Immigration, the direct purchase of real estate property is not a basis for obtaining a Ukrainian residency permit. However, our lawyer Ihor Kydalov and sales manager Elena Karpuhina share their experience of helping our clients get permanent residency by buying real estate in Ukraine.
According to the law, “On the legal status of foreigners and stateless persons”, aspiring immigrants can get a residency permit.” In most cases, these are people who have relatives in Ukraine or are married to a Ukrainian. Apart from having relatives, the law provides for other cases, i.e., persons who have outstanding cultural and scientific achievements and would support Ukraine’s development, former Ukrainian citizens who lost their residency, etc. If you are not included in any of these categories but want to get a permanent resident card (PR card), you have to invest in the Ukrainian economy.
According to the law on immigration, you can get permanent residency by investing a minimum of $100,000 in Ukraine. Foreigners can mistakenly assume that buying real estate in Ukraine valued at more than $100,000 will allow them to get residency. But it is not correct to consider your purchase as an investment, as it has to be for the country’s development. That is why a simple direct property purchase that will make a profit only for you will not work.
This is one of the easiest and cheapest ways to get a permanent residence in the world.
The most sensible approach would be to receive a temporary residence permit as the founder or co-founder of a company in Ukraine. First of all, you have to appoint a Ukrainian or a foreigner who already has a residency permit as your company’s director until you get a work permit. After registering the company, you will be issued a work permit in 2-3 weeks. With this work permit, the foreigner will be able to receive a D visa at a Ukrainian embassy and enter Ukraine. After entering Ukraine with a D visa, you will be issued a 3-year temporary residency permit.
After that, the foreigner can open an investment account in a bank in Ukraine and deposit the amount of the investment into it. Then this investment is deposited in the charter capital of his or her company, and the company can purchase an apartment as a real estate investment in Ukraine. After investing the charter capital, the foreigner may start the procedure to obtain a permanent residency permit based on the investment.
A foreigner must apply to the appropriate government agency for permission to immigrate:
- for persons residing outside Ukraine – to the consulate or diplomatic mission of Ukraine abroad at the place of permanent residence;
- for persons living in Ukraine – an authorized executive authority on migration issues in your district.
Practice shows that applying to the Ukrainian consulate or diplomatic mission abroad at permanent residence is the most challenging and most protracted method, with the highest number of rejections. We advise foreigners who wish to obtain a permanent residency permit based on an investment to do all the procedures in Ukraine, as it is easier and safer. The process is not easy and quick, with it taking 7-15 months to receive a permanent residency permit, but following all these steps, accompanied by a competent lawyer, will make it smooth and without conflict.
If you are interested in getting a PR card by buying real estate in Ukraine, contact us, and our legal partners can help you obtain the necessary documents, while at the same time our sales team can help your newly-founded company invest the money wisely and safely.
