Buying real estate abroad is one of the best investments of money, possible income differentiation and change of residence. When purchasing real estate abroad, some Ukrainians use it for permanent residence, others – as a living space during vacations or holidays. Another win-win option: renting the purchased property to local residents or tourists; then the owner receives a permanent passive income.
Whatever goals a person has, it is important to approach the purchase of real estate correctly. It is necessary to not only correctly choose residential square meters and make sure that the housing documents are transparent, but also to prepare your documents properly, to undergo certain procedures for the transaction to be successful.
An example of our clients buying property in Spain
Ukrainians regularly face the standard situation.
Let us have a look at our client Mykhailo’s letter:
To buy real estate in Spain or Cyprus, Ukrainian citizens need a bank account in the country where the purchase is to be made. When transferring funds from a Ukrainian bank account to an account of a Spanish bank, the financial institution has the right to request documents confirming the source of income. European organizations are closely monitoring such movements of funds, so all Ukrainian citizens should be prepared for such checks.
A sales contract can be considered the source of funds or income. If a client sells his home on the territory of Ukraine, such a document remains in his possession. This is a binding contract, which is drawn up when dealing with real estate in our country. The document states the source of the receipt of funds, which is enough to confirm income for Spanish or Cypriot banks.
How to prepare documents for buying real estate in Spain?
The contract of sale and purchase of real estate in Ukraine is drawn up in the national language; therefore, it will be impossible to provide such a version to Spanish banks. All official documents received in our country undergo the process of apostillation.
Apostille is an official stamp that is placed on documents issued in Ukraine. The seal confirms the authenticity of the signatures, as well as the authority of the persons who issued the document. Apostille is affixed at the Ministry of Justice. This procedure makes the documents valid on the territory of The Hague Convention signatories. It relieves from the necessity of undergoing the stages of legalization.
Our Translation Agency helps to prepare documents for Spain and Cyprus, saving clients from walking around offices and wasting their time. We will affix an Apostille to documents for Spain and Cyprus, including the agreement of sale and purchase of real estate in Ukraine, confirming the source of income.
We carry it out in several stages:
- Apostillation of the document.
- Translation of the agreement into Spanish or Greek.
- Notarization of the translation.
- Affixing the second Apostille.
You receive a document that is valid in Spain or Cyprus.
