Disclosed is a method by which a terminal transmits and receives a signal in a multi cell-based wireless communication system. Particularly, the method comprises the steps of: transmitting, to a serving cell, capability information in which the number of supportable channel status information (CSI) processes is set to zero; receiving, from the serving cell, information on a neighboring cell through an upper layer signal as a response to the capability information; receiving a cell-specific reference signal from the neighboring cell; reporting, to the serving cell, the CSI estimated on the basis of the cell-specific reference signal; and receiving, from the neighboring cell, a user equipment specific reference signal and a data channel on the basis of the CSI.