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Foreigners can buy housing as an individual. Commercial properties (except agricultural land) can also be purchased.
To formalize the purchase of real estate, the services of a lawyer specializing in real estate are used.
The following steps are then taken:
- choosing an object and reaching an agreement on the price
- preparing a preliminary sale and purchase agreement by the lawyer and signing it by the seller and buyer
- the buyer transfers a deposit (10-30% of the value of the object)
Within 90 days from the date of signing the agreement, the seller pays all taxes and bills and presents a certificate to the buyer.
The lawyer transfers the agreement to the Ministry of Land Resources for registration of ownership.
The lawyer’s fee and taxes must be paid within a month after the transaction is closed.