Features of the acquisition of commercial real estate in the Czech Republic

The Czech Republic is an attractive country for foreign business. At the state level, favorable conditions for the development of entrepreneurial activity have been created and are strongly supported. Investment in Prague in commercial real estate is one of the priority areas of investment for foreign citizens.

Absolutely everyone can buy commercial real estate in the Czech Republic – both citizens and foreigners. You can make a deal to buy an office, a shop, a restaurant, a warehouse as an individual or a legal entity. In the country, there are no restrictions on the number of objects that can be purchased.

To purchase a property in Prague, you can use the services of specialized agencies or private realtors. Local experts are well aware of the market, the legal framework, the process of obtaining the necessary documentation and can offer the best solutions. As a rule, the services of a realtor can cost 2-2.5% of the amount of the entire transaction.

After buying the property, the owner must pay taxes on a mandatory basis. Object insurance is voluntary.

How is the purchase of a commercial real estate in the Czech Republic?

Investment in Prague in commercial real estate has its several features. All documents are in Czech language, so we recommend that you use the services of a court interpreter. To make a deal as a physical person you need to have a passport. To execute a transaction, a legal entity must provide a foreign passport of the business owner and registry data about his company.

Also, pay attention to such moments:

• Checking the property. This service is included in the competence of the realtor. The specialist submits an application to the Real Estate Cadastre, which provides all the legal documentation on the object. At this stage, the future owner to pay a reservation fee. As a rule, this amount is not more than 5% of the amount of the entire transaction.
• Payment. To purchase real estate, you can open a bank account in the Czech Republic or use the services of a bank in your country. Payment is carried out only in the national currency of the country – kroons.
• Registration of the contract of sale. The contract between the parties is legally valid only after it is notarized. The contract includes the price of the transaction, information about the owner, a description of the object and additional items. The duration of a complete package of documents for the purchase of commercial real estate can take from several days to a month.