| 1. Are
there any restrictions on an overseas company or business
buying commercial property? |
Yes, the purchase of
real estate by foreigners requires a permit from the
Minister of the Internal Affairs and Administration
upon approval of the Minister of National Defence and
in the case of agricultural land, the approval of the
Minister of Agriculture and Rural Development. |
| 2. Is
land/property generally ‘registered’ so
that the title/ownership is guaranteed? |
Generally, yes, the Land
and Mortgage Register is maintained by an appropriate
court. The existence of the owner or user’s rights
in the Land and Mortgage Register is the best way to
prove the title to the property. |
| 3. What
are the basic requirements/procedures? |
Administrative decisions
by the Minister of the Internal Affairs and Administration
permitting the acquisition of real estate are valid
for one year from the date of issue. The contract transferring
ownership is concluded by notarial deed, regulated by
an Act. |
| 4. On
average, how long does the process take? |
Approximately 2 months,
but extended if Court proceedings required. |
| 5. What
searches are advisable? |
Check the Land and Mortgage
Register for mortgages or easements and for types of
building plots if applicable. |
| 6. What
are estimated disbursement costs? |
Stamp duty of 1400 PLN
(300€), and 83 PLN (17€) for a pledge. The
cost of a notarial deed depends on the value of the
property. For example, for 60,000 PLN (12,600€)
to 1,000.000 PLN (210,000€) – the notarial
deed costs 1,100 PLN (230€) + 0.5% of the surplus
over 60,000 PLN (12,600€) |
| 7. What
are the local and/or national tax considerations in
the country of purchase? |
VAT at 22% of the cost
of the notarial deed and a civil law tax of 2 % of the
value of the property. |
| 8. What
other annual local charges are obligatory? |
Real property tax, which
depends on the size and the location of the property.
For example the cost of a real property tax for business
activity is 0.62 PLN(0.13€) per m2. |
| 9. Are
there any other issues to consider? |
A permit is also necessary
if a foreigner is planning to purchase shares in a company
holding title to or the right of perpetual lease of
real estate. |
