ARTICLE · 13 NOVEMBER 2009

Foreign Real Estate Purchases

CMS Cameron McKenna Nabarro Olswang

Explore more from CMS Cameron McKenna Nabarro Olswang

Legislation to make it easier for foreigners to buy real estate in the Czech Republic has still not been implemented.

Czech RepublicReal Estate and Construction

Iveta Placha

Martin Vlk

Legislation to make it easier for foreigners to buy real estate in the Czech Republic has still not been implemented.

Foreign investors are advised to show caution when buying property in the Czech Republic, due to inconsistencies between current Czech and EU laws and low awareness of EU law among the state authorities.

EU law requires freedom of movement of capital between EU member states and other countries (including other EU member states). However, the Czech Republic negotiated two transitional periods on joining:

a five-year period expiring on 1 May 2009 allowing restrictions on the purchase of second homes
a seven-year period expiring on 1 May 2011 allowing restrictions on purchases of agricultural land and woodland

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