Business Services Industry
CZECH REPUBLIC: CZECHS CLARIFY TO EU POSITION ON 'SECOND RESIDENCE'.
IPR Strategic Business Information Database, April, 2001
Libor Secka, Czech ambassador to the EU, on 20 April said he has handed the EU a clarification on the Czech position regarding "primary" and "secondary" residences in the Czech Republic after accession into the union, CTK reported. The document says foreigners from EU countries who work in the Czech Republic after the accession date will be allowed to purchase "primary" real estate provided they have a permanent residency permit.
They will not be allowed to purchase a "secondary" residence, nor will this permission be granted to nonresidents during the "transition period." Currently, foreigners can buy real estate only if they have a registered company in the Czech Republic, or in association with Czech citizens. MS Copyright (c) 1999. RFE/RL, Inc. Reprinted...
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