The government recently passed a bill to restrict the sale of real estate with large amounts of cash to combat tax evasion and bring more transparency to real estate transactions in the country. (Law no. 114/2012 on payment services and electronic money)
According to this law, natural persons who wish to purchase a property with a value exceeding 100 salaries per economy (average salary per economy in the year 2023 - 11700 MDL) will be obliged to make the payment only by bank transfer.
The notaries who authenticate the sales-purchase contracts for real estate that exceed the value of 100 average salaries per economy (the equivalent of 60,000 euros) must ensure that the payment was made by bank transfer. Otherwise, they will not authenticate the contract, except in situations where sale-purchase contracts with reservation of ownership are authenticated and the right of ownership is to be provisionally registered.
People who break these rules and make cash payments over the established limits will be subject to substantial fines. The State Fiscal Service can impose fines between 3% and 10% of the amount paid in cash if the established limits are exceeded.
This initiative was met with mixed reactions from the population and specialists in the field. Some argue that it will contribute to greater transparency and fairness in real estate transactions, while others are concerned about the possible obstacles and inconveniences they might encounter in the process of purchasing real estate.
We, Acces Immobil, welcome this decision, and once again inform all customers to comply with the law, to indicate the real amounts in the sales-purchase contracts, to pay the taxes on the capital growth following property sales-purchase transactions real estate and to provide documents justifying the origin of the money.
At the same time, we ask the authorities to find a mechanism to reduce the losses of Moldovans following the transactions carried out by transfer. Because we have an unstable exchange rate, and the Moldovan leu is not the most valued currency - Moldovans prefer to keep their savings in euros. If all transfers will be in Moldovan lei, there will be commissions for withdrawing money from banks, for currency exchange, and respectively there will be a lot of losses that all Moldovans will have to bear.
