Step 1

Client mails a scan copy of the passport to Belgian Village

Obtains a Ukrainian tax code for investments and transactions in Ukraine

3-4 weeks to obtain a tax code which is obligatory for bank relations, investment and payment of taxes in Ukraine

STEP 2arrow_forward

Step 2

Client visits the notary office in Belgium

Power of Attorney (PoA) 1: on the name of the notary in Ukraine to sign property investment, ownership and guaranteed income related agreements

Power of Attorney (PoA) 2: on the name of the employes of the Belgian Village to open and manage bank accounts in Ukraine and pay taxes

3 days for the translation of PoAs into the Ukrainian language and notarization

Power of Attorney to sign property investment, ownership and guaranteed income agreements

Notarized PoA provided on the name of the BV Chief Lawyer (a Belgian individual or two Belgian individuals?) and related to the following actions:
  • Signing the agreement on the property rights
  • Signing the ownership registration agreement
  • Signing the guaranteed income agreement named XXX for the first 12 month
  • Signing the notarized rent agreement for years 2-5
  • ... other transactions? (inventory of transactions)

Power of Attorney to open and manage bank accounts in Ukraine and pay taxes
  • Opening of the bank account
  • Managing bank account
  • Signing currency exchange applications
  • Signing the notarized rent agreement for years 2-5
  • .. other transactions? (will be worked out between our lawyers and Credobank)
STEP 3arrow_forward

Step 3

Bank account in Ukraine

Proxy according to PoA #2:

Investment bank account

All payments in Ukraine are done in UAH

Currency exchange from EUR to UAH(exchange fee is 0.5%)

Used for property investment

Used for recieving a guarenteed monthly income

Used for the repatriation of income to the client’s in Belgium

Current bank account

Client transfers UAH guaranteed payments to his current account

Client could use Visa card issues by the Ukrainian bank to make payments and/or withdraw cash from ATM in Belgium (currency fee 0.5% + Visa card related fees)

Internet Banking

One time visit personal of the Client to the Ukrainian bank is needed!

STEP 4arrow_forward

Step 4

Payment for the property purchase and start of construction

Proxy according to the Power of Attorney 1 signs the property rights agreement on behalf of the Client guaranteeing the ownership of houses and/or apartments of the Client in Ukraine. The Client received the copy of such an agreement and makes a payment using from own bank account in Belgium. The payment could be completed in 5 days after singing the above agreement.

The payment to the Belgian Village is done from the Client’s bank account in Belgium via Client’s bank account in Ukraine, involving the currency exchange. All payments in Ukraine could be cone only involving the Ukrainian currency Hryvnia (UAH).

The timing of the transfer between Client’s bank account in Belgium and Ukraine is 1-2 working days.
Currency exchange transaction are done in 1-2 working days.


Client's Bank Account in Belgium

SWIFT transfer instructions provided to the Client

Client transfers the amount which equals to the purchase price of the house/apartment in EUR

Client's Investment Bank Acount in Ukraine

EUR is exchanged to the Ukrainian Hryvnias (UAH) The exchange fee is charged (0.5%)

Other fees (payment orders, etc)

Client's Investment Bank Acount in Ukraine

UAH arrives on the account of the SPV BElgian Village Pustomyty or Belgian Village Gorodok Construction of the Client's houses and/or apartments starts and lasts for 12 months

STEP 5arrow_forward

Step 5

Construction stage and Registration of the ownership

The registration of property rights (during the construction process) and ownership (after completion of the construction) in Ukraine is carried out by notaries who act as state registrars. The status of the property is registered at the Unified State Register of Property Rights of Ukraine electronically. The Client receives the information on his property status from the State Register of Property Rights of Ukraine in the form of an extract. Proxy applies to receive such an extract on behalf of the Client.

Property rights during the construction stage

The agreement on the registration of the property rights between the Client (by proxy acting based on the Power of Attorney) and Belgian Village is signed the same day as payment is transferred to the Belgian Village. After this, the construction starts and lasts for up to 12 months.

Ownership after completing the construction

The ownership right is registered once the construction is completed. The proxy based on the Power of Attorney signs the relevant documentation at the notary office and receives the Extract from the State Register of Property Rights of Ukraine as a proof of the his/her ownership for an apartment/house in Ukraine.

Property rights

Notarized in Ukraine

Basic document to guarantee the property rights and future ownership

Valid until the end of the construction (12 months)


Registered by the notary in Ukraine

Client receives an Extract from the Ownership Registrar of Ukraine as a proff of the property ownership status

Guaranteed rent

Client receives a guanateed rent income on his/her investment for 5 years at 6% per annum net in EUR terms

It is paid monthly in on the Client's bank account in Ukraine

12 months construction process

Reporting to the Client on the status/live web cameras to track the progress

Years 2-5

Client receives guaranteed rent monthly

Notary and state registration fees paid by the Client:
Notary certified agreement of property rights:
State duty of 1% of the contract amount
Notary fees (up to 300EUR per transaction)
STEP 6arrow_forward

Step 6

Collection of guaranteed monthly income

Belgian Village sends guaranteed rent payments at the level of 6% per annum net on the invested amount by the Client. These payments transferred monthly in Ukrainian local currency (UAH) to the Client’s bank account in Ukraine starting from the end of the first month after the Client’s investment.



Belgian Village Bank Account in Ukraine

Belgian Village sends 6% per annum on the invested amount in UAH monthly

Client's Investment Bank Acount in Ukraine

UAH are exchanged into EUR based on the exchange order signed by the proxy according to the PoA

The exchange fee is 0.5%

EUR repatriated to the Client's account abroad based on the banking order signed by the Client's proxy

Client's Bank Account in Belgium

EUR arrives on the Client's bank account in Belgium and could be used by the Client at his own discretion



Belgian Village Bank Account in Ukraine

Belgian Village sends 6% per annum on the invested amount in UAH monthly

Client's Investment Bank Acount in Ukraine

UAH are received on the Client’s investment account

UAH or EUR sent on Client’s bank current account in Ukraine

Transactions signed by proxy

The Client can only review the status in internet bank, no transactions

Client's Bank Account in Belgium

(one time visit to the bank in person in Ukraine)

UAH or EUR arrives on the Client’s current bank account in Ukraine

Visa debit card allowing to pay and use ATM in Belgium

Internet banking

Exchange and repatriation abroad

Verification by sms on Ukrphone

The contractual arrangements for the guaranteed income payment:

Year 1

Guaranteed income payable based on the Services Agreement signed between the Client and Belgian Village (non-notarized)

Years 2-5

Guaranteed income payable based on the Notarized Property Rent Agreement signed by the Client's Proxy according to the PoA

Notary fees of EUR 300)

Years 5+

Client and Belgian Village decide on the future cooperation

Client rents on his own

Client sells the property

What we offer as a property manager?

There is more to looking after a property than just maintenance, and with a number of properties, the administration time all adds up. A property management company such as Belgian Village Facility and Property Management can take away the hassle of organising paperwork and leases, collecting rents, paying utilities and property upkeep. We will look after your propertyinterests no matter how small or large. We will save your time and money by the following property management and administration services:
  • Rent collection
  • Rent deposits collection
  • Controlling the incoming and outgoing inventories in the unit
  • Preparation and reconciliation of service charge and rents at the year-end
  • Property and estates tenancy schedule maintenance
  • Finding new tenants
  • Administration of the property-related taxed
  • Reporting to the client

In brief, we will support you in managing your property, leaving you to do what you do best. Whether toy have a small property portfolio or a demanding number of units to maintain, we can take care of all the operational aspects of property, as well as planned and ad-hoc maintenance. Our objective is to provide fully integrated rental management services, so that you can focus on other things in your life.

As a developer of the BelleVille, we are the ones who have the best knowlege of units and organize the best facilities management, by providing the maintenance and repairs, if needed.

Except for dealing with the day-to-day upkeep of a property, we can also offer expert consultancy services to increase the value and return on investment on a single property or property portfolio. We will provide you with a holistic approach recommending further improvements, including energy saving and alternative energy recommendations.

STEP 7arrow_forward

Step 7

Taxation in Ukraine and Belgium

There is a treaty between Ukraine and Belgium on the avoidance of double taxation. According to this agreement:

1) There is a zero tax rate for incomes received according to the service agreement by a non-resident investor in Ukraine after the investor presents an apostilled and notarized tax residency certificate from Belgium. Such tax residency certificate should be presented once per year.

2) There is a 19.5% tax rate for property rent incomes received in Ukraine.

The non-resident investor from Belgium could claim back the 19.5% tax withheld in Ukraine after presenting a proof on payment of taxes in Ukraine. This proof is a certificate which could be received by the Client’s proxy in the Tax Administration in Ukraine.

Belgian Village is a tax agent for the Client in Ukraine. It means that the Belgian Village withholds the tax from monthly payments.

Tax in Ukraine

Zero tax for payments received under the service agreement during the first year

Tax for the rent income of the non-resident invidual investor witheld montly is 19.5% for years 2-5

Tax in Belgium

Client provides a certificate on the taxes paid in UKraine

Taxes payed in Ukraine on the property rent income could be deducted from Client's taxes (or gross income??) in Belgium

STEP 8arrow_forward

Step 8

Summarizing profits

Number of apartments/houses 3 5 10
Price per appartments/houses 80,000 80,000 80,000
Client pays total 240,000 400,000 800,000
5 year with BelleVille gross 72,000 120,000 240,000
5 year with BelleVille net 57,960 96,600 193,200
Net yield on the annual basis 4.83% 4.83% 4.83%