Restrictions on foreigners purchasing real estate have been lifted
In May 2009 the Czech legal code was changed concerning the conditions for foreign nationals to purchase real estate, i.e. people who do not have permanent residence in the Czech Republic.
Before, the easiest way to purchase real estate was to register the property to a commercial company based in the Czech Republic, where the senior partner and managing director was a foreigner. In May 2009, land registries began registering the property rights to residential real estate to foreigners without a permanent residence permit in the Czech Republic, whereby individuals could acquire property without the need to start a business. This simplified the process of buying real estate and also reduced the costs associated with it for the buyer.
For concluding a contract, the buyer must provide a copy or scanned electronic copy of the first page of his passport, his address of permanent residence (registration), mailing address in the Czech Republic (a mandatory condition for receiving the purchase contract from the land registry), telephone number and email.
CENTRAL GROUP provides comprehensive legal support for signing a purchase contract and also arranges mortgages. After the completion of construction and full payment of the purchase price for the property, the company assumes all worries associated with transferring the property rights to the client in the Czech land registry, and free of charge.