Buying property is now easier for foreigners in Poland
Jelenia Gora/Poland, 02.07.2009 – According to Polish Act on Purchasing of Real Property by Foreigners foreign buyers need to claim a permission from Minister of Interior and Administration (MIA) if they plan to become a real property owner. Have you sealed your deal without one, your transaction has no legal rights.
But legislator stipulates few exceptions to the rule, and as Poland membership in EU matures there are still new to come.
First of all, if you happen to be a citizen or a company (natural or legal person) of European Economic Area, you do not need a permission to purchase an independent housing apartment.
What is more, starting from 1st of May 2009, EU citizens need no MIA permission if they plan to become a “second home” owner. And what is a “second home” according to Polish law? It is a real estate destined for a flat (house) building or holiday home which will not make a foreigner home address.
Before 1st of May, if a foreigner wanted to purchase a second home he was obliged to prove his will to occupy it permanently.
One issue that has not changed is that foreign buyers still need an official ministerial permission to purchase agricultural real properties. So if you are planning to become a real property owner check your choice status in your local land development plan to avoid an extra paper work.
Idea in numbers
According to Ministry of Interior and Administration number of land properties purchased by foreigners has decreased by 5% in 2008, but when it comes to housing apartments there was a 16% increase.
Following the source, 3999 land properties and 4410 housing apartments were purchased by foreign buyers in 2008 (together with and without permission needed).
In the same year MIA handed over 580 purchasing permissions, 514 of which made land properties.
Poland Consulting Services Sp z o.o. operates the business areas investment advice, export counselling, market research and marketing consulting and supports companies in their market entrance and market positioning in Poland.
Source: Poland Consulting Services / pressbot.net
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02.07.2009 - 0:00 Source: pressbot.net | Read: 128 X