Cost to purchase real estate, can foreigners buy land?

Discussion in 'Expat Life' started by Marksli, Aug 1, 2004.

  1. Marksli

    Marksli New Member

    What is the cost of an acre of land and say a 10 to 20 year old home on it in the country within an hour or two's drive from a big major city? Is there a good website which can explain the real estate listing for sale versus the rentals? I have begun to think of looking around the area due to a family tree/ancestry bug which has just "bit" me and wondered if the cost of those rentals I have searched online and were listed as 50.000 which would equal what???? in US money? (I have the currency converter, but just wondered what someone could advise!)
    Many thanks and appreciate your interest!
  2. maartenv

    maartenv Well-Known Member

    Can foreigners buy a house / land etc.?

    The answer is no and yes.

    As a person you are not yet allowed to purchase such things. What you can do however is own a Chech company. This is called a S.R.O.

    The S.R.O. can own the house, land or whatever.

    It is not allowed to own a sleeping S.R.O., so you must do something with the company, and the company must make some meoney, and pay taxes, otherwise they can close it down, and the problems start.

    Also to start such a company, you need a Czech person to manage it. He or she will have full control over all the assets in the firm, and in a worst case cenario, can make great depths as well.

    After a three month period you can take over the managing capabilities, and can be on your own.

    To prevent the S.R.O. from being inactive, some people choose to make it a house renting firm. The income from the rent payed, goes into the company, and the company will pay taxes. There are companies specialised in setting up such constructions, and they can even take care of booking the house with guests, take care of cleaning etc.

    You can also get in touch with a Lawyer in the Czech Republic. They can also guide you through the process. It's just a matter of how much effort you want to put in all the paperwork, translation of contracts, getting to know regulations etc. And ofcourse the ammount of money you want to spend on service fees to others that can take care of all the hassle.

    For more info you can search the web, with some of the keywords in this message. If you want to start something like this, you should be inventive enough to figure it out!

    Good luck!

  3. Dana

    Dana Well-Known Member

    A foreigner can also buy property in the Czech Republic if he/she is married to a Czech citizen.
  4. kenshus

    kenshus New Member

    What about a foriegner who is married to a Slovak resident in Czech Republic?

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