Can a Foreigner Buy Property in Slovakia Without a Residence Permit
Foreigners buy real estate in Slovakia for various reasons. They have access to virtually any type of property to preserve their capital and take advantage of low taxes. Before doing so, it is crucial to research the local market and learn about the specifics of the process.
What Are the Rules and Considerations for Making a Purchase?
Foreigners can buy property in Slovakia - apartments, houses, plots of land, and other land-related assets. The transaction can be registered in the name of either an individual or a company, even if the company does not include any Slovak citizens among its members.
Here’s what isn’t allowed:
- Agricultural land and forests are off-limits to foreigners. The law prohibits ownership of such properties.
- Investments do not grant the right to expedited citizenship. Purchasing a home does not shorten the naturalization process.
The tourism sector attracts the most interest from foreigners. Many purchase real estate for business or leisure, while some move to the country permanently. After selecting a property, a deed of transfer is drawn up, but ownership is transferred only after the details are entered into the land registry.
Before buying, check everything carefully. You need to make sure the property is in good standing, verify the owner’s identity, and check for any outstanding debts. To do this, request a cadastral extract.
It’s also worth verifying whether any tenants are registered at the apartment or house. It’s important to check whether the property is being used as a company’s registered address. Taking a responsible approach will help you avoid problems, after which you can take advantage of the low property tax, which makes home ownership here affordable by European standards.
