EU citizens can buy real estates in the Czech Republic

11-June-2004

According to the passed Amendment of Act the EU citizens with the „residence permit card for citizen of a member state of the European Community“ can buy real estates.

EU citizens can buy property in the Czech Republic

On the 2nd of June 2004 came out in the Collection of laws under no. 340/2004 Coll. Amendment of Act no. 219/1995 Coll., on foreign currency, which besides other newly governs the acquisition of real estates by foreigners in the territory of the Czech Republic.

Up to now could by the real estates in the CR only individuals under a permanent residence permit in the CR and legal entities based in the territory of the Czech Republic.

According to the passed Amendment of Act the EU citizens with the “residence permit card for citizen of a member state of the European Community” can buy real estates (with the exception of timber land and agriculture land). It means that if the citizens of EC have temporary residence granted (residence for period of time longer then 3 months) or permanent residence granted in the CR they can buy real estates in the Czech Republic.

For the other foreigners (from the “third countries” - without permanent residence in CR) the situation remains within the same way. These persons can obtain the real estates only in especial cases, regulated by the law.

The Amendment of Act was brought into effect on the 1st of May 2004.

Source: http://www.en.domavcr.cz/novinky.shtml?x=185666