Using a specific transaction as an example, we will tell you how we helped our client.
The situation - a Russian citizen owns an apartment in Latvia that was purchased in 2002. Since he did not have a visa or residence permit, he had not been able to visit Latvia for a long time, and decided to sell the apartment.
The client contacted our company, and we drew up an "action plan," which we then successfully implemented.
First, we inspected the apartment and determined its market value.
Then calculations were made in two scenarios.
If the apartment was purchased for 20,000 €, and is now being sold for 40,000 €:
- Sale to a private individual (Latvian citizen), tax is up to 25.5% of the profit, that is, (40,000 € - 20,000 €) × 25.5% = 5,100 €.
- Sale to a Latvian company, 3% is withheld from the full sale price, that is, 40,000 € × 3% = 1,200 €.
Savings - 3,900 €.
The client agreed for our company to purchase his apartment. This eliminates many complications - the transaction happens quickly, and the client receives a larger amount of cash.
Next, our company's lawyer prepared a power of attorney for the sale and arranged for it to be sent to Latvia.
When the power of attorney was in Latvia, the lawyer, based on the power of attorney, signed the purchase and sale agreement and documents with a notary.
Then the purchase amount was transferred. An important detail - at the moment, it is possible to transfer money in euros to a third country (Tajikistan, Uzbekistan, Kyrgyzstan).
Having received money in euros, the client can keep it in euros or convert it to rubles and pay with a bank card.
The final stage is registering the transaction in the land register.
As a result, both parties were satisfied. Our company acquired an apartment at a favorable price, and the client completed the transaction and received the money without having to travel to Latvia in person.
The transaction took two and a half months (from the first conversation to handing over the keys to us).
If you also want to sell your apartment - contact us!
We are most interested in affordable apartments, up to 50,000 euros, but we can also consider purchasing more expensive properties!
Have questions? We're waiting for your email or call!
Phone number: +371 29774775 (Viber, WhatsApp)
Email: info@kominvest.com