Purchasing real estate in Poland for citizens of Ukraine and Belarus is a topic that raises many questions and challenges. One of the most serious issues that potential buyers face is the legalization of money. Typically, the earning process in Ukraine and Belarus differs significantly, leading to several questions about how to properly declare funds obtained abroad when purchasing real estate in Poland.
The First and Most Important Issue: Legalizing Funds
First of all, it is important to note that the process of legalizing money in Poland requires clear proof of its legal origin. Potential buyers can be divided into two categories: those who can confirm their income, and those who cannot. In most cases, it is the latter who face the greatest difficulties, as buying property in Poland becomes a more complicated task for them.
Unfortunately, the situation is becoming more complicated, and the legalization of funds is increasingly confusing. However, there is a lot of documentation available to confirm the legality of your money’s origin. These documents are necessary to prove that your money was obtained legally, whether through employment, the sale of property, or other legal means.
For example, if you sold real estate or movable property, the presence of official documents, such as sales contracts, confirms the legality of your funds. If the money was gifted, this is also a legal way to legalize it. Additionally, profits earned from high-paying jobs or running a business can be legalized through appropriate tax declarations. For example, if you earned a profit from selling securities or speculating on precious metals, this is another way to confirm the legality of your funds.
How to Properly Transfer Money to Poland?
When transferring money to Poland, it is important to ensure that the funds are transferred through official banking channels. Even if you have not paid taxes in your country, this is not a critical factor. The main thing is that the transaction is carried out officially.
Unfortunately, recently there have been difficulties in recognizing promissory notes. Previously, if you received money from a friend, the bank could easily process such a transaction, but now the situation has changed, and financial institutions require clear proof.
Alternative Legal Methods for Legalizing Funds
What should those who cannot confirm the legality of their funds do? There are legal schemes offered by some banks and payment systems. These schemes ensure the legality of any transactions, guaranteeing that your funds will not raise suspicions.
You can make a cash or non-cash transfer, and within a few days, the funds will be on your Polish bank account without any additional questions about their origin. While this may be expensive, such services will cost you less than the taxes you might pay in Poland or in your home country.
However, it is important to remember that this approach carries certain risks, so it is necessary to carefully study the terms and reputation of the company you plan to work with.
Taxes and Penalties When Purchasing Real Estate in Poland
When purchasing real estate in Poland, it is extremely important for the government and tax authorities to ensure that taxes are paid. This applies not only to funds earned in Poland but also to those earned abroad. If you do not have official documents confirming the legality of your funds, you may face tax consequences, including fines of up to 70% of the amount.
Therefore, it is important to prepare in advance and gather all possible documents. You should also consider the risks associated with cash. If you plan to bring a large sum of cash across the border, you may have to face additional checks. Tax authorities may inquire about the origin of your funds, and if their origin cannot be confirmed, this could lead to serious consequences.
Important Recommendations and Conclusions
Overall, the process of purchasing real estate in Poland for Ukrainians and Belarusians can be quite complicated, especially when it comes to legalizing funds. However, with the right information and proper preparation, many difficulties can be avoided.
Understanding Poland’s legislation, correctly preparing documents, and working with reliable companies will only make this process easier. Be prepared for some schemes to change, and cooperating with experienced professionals may allow you to successfully conduct real estate transactions, opening new opportunities for you in Poland.
