More and more Ukrainians are buying property abroad - from apartments in Portugal to flats in Poland or Spain. But before the deal, a key question arises: how to legally transfer money from Ukraine to the EU without violating currency and tax legislation. VisitUkraine.Today discusses legal ways of transferring money and declaration rules .
How much cash can be taken out of Ukraine
According to the NBU resolution No. 203, every citizen can take out up to 10,000 euros or the equivalent in another currency without declaration. If the amount exceeds this, it is necessary to declare the funds in writing and have documents confirming their origin (bank certificates, contracts, inheritance papers). In the absence of confirmation, customs may seize the excess amount.
All European countries also require the declaration of amounts over 10,000 euros. For example, a “cash suitcase” to buy a house in Spain could end up costing a fine and seizure of funds.
Bank transfer - the most reliable way
The easiest way to transfer money is through an official bank transfer. The law allows:
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to transfer currency to your own account abroad;
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to pay for real estate directly through a Ukrainian bank.
For this, you need an underlying basis - a purchase contract or an invoice from the developer. The bank checks the origin of the funds, so it's important to have documents: declarations, certificates, or inheritance certificates. The advantage of this method is transparency and confirmation of each stage of the operation.
What about cryptocurrency
Cryptocurrency does not exempt from financial control. Its exchange for euros in the EU is considered a financial operation, and the owner must prove the origin of the assets and declare the income.
How to avoid problems
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open an account and collect documents in advance;
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do not split large sums into smaller transfers;
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avoid “gray” schemes and intermediaries;
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if in doubt, consult a lawyer or tax advisor.
Knowing the rules and having the proper documentation will help safely transfer funds to the EU and legally purchase real estate.