Property in Poland – your best investment
Poland is one of the best countries to invest in. The country offers tremendous opportunities for doing business and comfortable living. However, to reside in Poland a foreigner needs to have strong reasons to get permission from state authorities. One of the ways to get a legal status is to buy Poland property for commercial use. Besides, such a purchase will be a great investment for years to come.
How can a foreigner buy property in Poland?
Citizens of the European Economic Area (EEA) can buy property for commercial use without any special permissions.
Meanwhile, individuals coming from non-EEA zone must get a permission from the Polish government to purchase any kind of property in the country. But there are certain exceptions to the rule. For instance, a person coming from non-EEA county does not have to get a special permission if he or she has been living in the country for more than five years based on the permanent or long-term EU residency.
If you need the permission to purchase Poland property, you must file an application to the Ministry of Interior (Ministerstwo Spraw Wewnętrznych i Administracji) and provide information about:
- your legal status;
- the property to be purchased and the legal form of the deal;
- the seller;
- how the property will be used.
You may be also required to submit other documents proving your ties to Poland. This can be a marriage certificate, company documents and more. It is advisable to check the Polish legislation to see whether there are nuances applying to your particular case. Another option is to hire a legal consultant specializing in the field of Polish property.
How to buy property in Poland
Negotiations regarding property for sale in Poland are conducted openly. It is possible to negotiate the price with the property owner or through a real estate agent.
Once the price is agreed, the seller and the buyer should go to the notary office and sign an agreement in the form of a notary deed. Other forms of contracts are invalid. Note that all documents, including the contract, should be made in Polish.
The notary’s job is to offer a final contract with details and conditions of the deal if any. Both sides should agree on each point. Before final contract is signed, preliminary one can be signed. A completion date should be set and the buyer must pay around 10% deposit. When everything is settled, the buyer pays the rest before or after signing a final contract.
Obtaining property in Poland is a great investment. Not only you can use it for business goals but you can easily lease your property without any restrictions. However, make sure you follow all the legal regulations.