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There are no restrictions on foreigners purchasing apartments in Lithuania; however, there are some restrictions on foreigners seeking to purchase land. In order to purchase forest or agricultural land, it is a requirement for the purchaser to live in the country for a minimum of three years previous to the purchase and during this time should have been involved in agriculture. There are also similarly stringent restrictions on foreigners buying coastal property, so it is strongly advised that you seek independent legal advice if you seek to live on the coast, indeed it is wise to employ the services of a legal council at all stages of the purchase procedure.

Once a Lithuanian property has been found and an offer has been accepted, the payment will need to be made in two parts. The first involves a pre-payment (deposit) and the second involves the full payment of the remainder of the purchase price. The full payment is only to be received after the formal legal requirements have been fulfilled e.g. after the transfer deed has been signed. As is always the case, it is strongly advised to obtain professional advice throughout the purchase procedure.

In order for you to be considered as the legal owner of your new property it is necessary to be registered in the public register. In Lithuania this is known as the Register of Real Estate and on average the processing of this documentation is very quick, usually taking 10 working days.

The purchase must be subject to a written contract and it must be confirmed and notarised by a notary.

Incorporated in the purchase procedure, you should budget for state duties, notary fees and possibly estate agents fees. If you are purchasing a new build property, you will also need to pay VAT. State fees in Lithuania are low, however, the notary fees can be more expensive as they are linked to the price of the property purchased. Estate agents fees will typically be roughly 3% of the property price and there will be bank fees for escrow services and the transfer of the funds.

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