| 1. Are
there any restrictions on an overseas company or business
buying commercial property? |
No. |
| 2. Is
land/property generally ‘registered’ so
that the title/ownership is guaranteed? |
Yes. For the rights over
immovable property a land register is kept. To acquire
the ownership of land a registration in the land register
is required, which guarantees rights. |
| 3. What
are the basic requirements/procedures? |
A duly authenticated
(notaried) contract for the transfer of ownership of
land and then the seller must file an application for
an entry into the land register. |
| 4. On
average, how long does the process take? |
Drafting and executing
the purchase agreement including the registration and
payment procedure takes a couple of days. |
| 5. What
searches are advisable? |
The land register is
public and all legal facts (rights and encumbrances)
connected to the property and should be inspected. Also
inspect the property for deficiencies, since there are
no automatic warranties. |
| 6. What
are estimated disbursement costs? |
0.1 – 1.7 % of
the purchase price, for registration and the public
deed, both depending on local rules. Additional fees
for an attorney. |
| 7. What
are the local and/or national tax considerations in
the country of purchase? |
A change of ownership
is taxed at rates of 0.8 – 3.3 % of the purchase
price. A profit tax payable by the seller with a lien
charged to the property can be imposed. |
| 8. What
other annual local charges are obligatory? |
Annual fees are charged
for using public infrastructure, e.g. waste, water,
waste disposal fees, drainage rates etc. |
| 9. Are
there any other issues to consider? |
Any construction activities
or changes of use need a permit. To obtain it, the construction
and the intended use of the property must correspond
with the federal, cantonal and local zoning plans as
well as with the local construction regulations. |
