What bonuses are considered for the purchase of property in Poland?
In our other articles we had said You in details about privileges for foreigners, who purchased business in Republic of Poland. Now we wish to inform You about possibilities which may open to You buying of a Polish property - for residential or business purposes.
For successful immigration process and succeeding of wishful aim, in any case, first of all, You may clearly designate this goal. Do You just want to buy real estate abroad for personal use or You seek for the settlement there in future, establish a business and become a rightful Polish citizen? Procedure depends directly on Your plans.
For today Poland is possessing developed infrastructure and stable economy European country. Because of it buying a property in Republic of Poland will became a great investment for those who is not yet ready for active business and establish his own enterprise. There is obvious passive profit You may ensure for yourselves by buying a property. At first - You may rent it, secondly - You may earn by selling it, because Polish real estate market grows year by year.
4 reasons to pay Your attention exactly to Poland's property:
- democratic relation from the Government to immigrants
- loyal and flexible taxation system
- low average costs of property
- stable economy
Investments in real estate is always justified economically decision, especially if we speak about stable country which is not threaten by crisis and default. Poland's property market is really reliable ground for investments because of belonging of the country to European Union that guarantees predictable direction of its development and strengthening of its position on international property market.
But it must be noted, that despite advantages mentioned above, buying a property doesn't gives a right to its owner for getting a Temporary Residence Permit in Republic of Poland. But if You apply for Residence Permit the fact of having a property here in Poland is considered as a bonus.
Let's speak about who has rights to buy a property in Poland.
Procedure of buying a property in Poland for foreigners who are non-EU residents is regulated by some laws. The most significant is decree of 24.03.1920 "On the acquisition of real estate by foreigners". On its basis foreigners must obtain special permission from the Ministry of Internal Affairs and Administration. That document gives You the right of ownership and the right of perpetual property usufruct.
This document is not required if:
- foreigner purchase a property for personal residential purposes (residential room as it called in Poland's law);
- foreigner purchase a nonresidential garage-room or take a part in common ownership of nonresidential building;
- property buy a foreigner who is permanent resident of Poland for more than five years;
- property buy a foreigner who is permanent resident of Poland for more than two years and who are married to a Polish citizen;
- property buy a foreigner and who at the time of deal has a right for inheriting this property in accordance with a law on alienation of property, and alienating this property person is its owner for more than 5 years
- Poland's enterprises with foreign capital purchase undeveloped real estate (no larger than 0,4 ha) in urban area if this property will be used in company's charter's aims.
In other cases of buying a residential property You have to obtain permission, that is given by the Department of Permissions and Concessions in Ministry of Internal Affairs of Poland. It is issuing in form of administrative decision on the basis of Your declaration. Aside from Your personal data You must indicate all the information about purchased property, justify reasons and aims of buying, prove Your connection to the Republic of Poland. By these acts You may convince Poland's supervisory authorities in advisability of the purchase.