Right to acquire real estate by foreigners

Information about Austria. Geography, history, population, map, coat of arms, visa
Like almost all EU countries, in Austria there are legal restrictions on the purchase of immovable property by foreigners.

Based on the experience of legal advice, the author would like to highlight especially the following questions:

1. Location of the acquired land

Austria - is a federal state, and therefore, along with federal legislation, there are laws on the level (of nine) federal states. An important example are the laws governing the acquisition of land ownership by foreigners. Practically, this means that give general advice on how citizens of the CIS countries can acquire real estate in Austria, just impossible. First you should find out in which the federal land is acquired land and get acquainted with the laws of the federal land.

Most of the laws on the acquisition of real property by foreign nationals on the similarity between them. The exception however, are relatively stringent law in the Tyrol and relatively liberal law in Vienna. Summarizing, we note that the western federal states (Tyrol, Vorarlberg and Salzburg) have stricter laws than the rest of the earth. This is due primarily to its proximity to Germany and the desire of many German citizens to acquire the solvent cottage in the Austrian mountains.

2. Cases in which foreigners authorize the purchase of real property
I must say that in principle, foreigners are not prohibited from owning property, but this they must obtain a special permit. It is necessary not only for the purchase of land, houses and apartments in order to avoid violations of the law, but also for the acquisition of a foreign citizen certain rights to use the property. In some federal lands to permit even in order to be eligible for bail. Given the different wording of the laws of federal land, it is possible, summing them, nonetheless argued that allowing the purchase of real estate is returned if the case is of national economic or social interest for the Republic of Austria. What does this mean? The national economic interest occurs when, for example, along with real estate foreigner acquires Austrian company, which in another would do little to contain himself, or when the room is necessary for the location of foreign firms. Social interest is present, if the alien is already in close contact with Austria and the property necessary for it to stay. The Austrian government authorities believe that contact with Austria, has the alien, which already has a residence permit, or he is married to an Austrian citizen. Close contact must exist already at the time of planning the acquisition of real estate.
One buyer wishes to reside permanently in Austria is not enough.

3. Who is a foreigner
Law, of course, apply to foreign individuals, ie individuals with foreign citizenship. This rule is also valid for foreign companies (legal persons), namely firms, the board which is outside the territory of Austria. Legislation of all Austrian federal states relate this concept to Austrian companies, most of the shares owned by foreign individuals or legal persons, that is, they are subject to the same laws as to foreigners.

Definition of "foreign participation" in the individual federal states are very strict, but even here, in some cases there are gaps in the legislation, which you can use to their advantage.
Widespread involvement of Austrian citizens as trustees is risky: if he becomes aware of this transaction, the sales contract can be annulled.

4. Benefits for foreigners from the EU or for companies with a seat in the European Union
Citizens of EU countries or companies with a seat in the European Union, according to the law on the acquisition of immovable property by foreigners may acquire property on the same grounds as the Austrians. This also applies to all new EU countries, including Malta and Cyprus, and the so-called EEA - European Economic Area, for example, Liechtenstein. From individuals or companies from these countries require original evidence of the nationality of the EU or the registration of a company in one of the EU. Only if such confirmation (so-called negative evidence) the possibility of real estate in the land registry. Therefore, foreign companies with head offices in several countries, it makes sense to buy real estate through a company registered in an EU country (but not in Austria) or a specially set up for this company in one of these states.

5. Additional barriers

In addition to the above should also be remembered that in many federal lands, along with the requirement of permission to purchase real estate to foreigners, there are other obstacles, which are also for the Austrians. This is especially true of agricultural and forest land. When buying plots of this kind must have special permission to the authorities, who in the interests of the Austrian agriculture discover not whether any villager a more pressing need in this area than the buyer. Also, some federal lands, where not enough land for housing construction, primarily provided by local people, and then the person wishing to build a cottage. Therefore, in order to buy some land, we must first settle in the area.
In Vienna, no such restrictions exist.

6. Date permit

Duration of treatment and chances for a permit, as noted above, in different lands, different. Fastest adjudicated in Vienna, although here it is necessary to wait an average of two to three months.

7. Need access to a lawyer

In principle, the petition for permission to be yourself, without assistance of counsel. If a case is absolutely clear and public authority must necessarily give permission, then no problem. In all other cases it makes sense to consult an Austrian lawyer who specializes in matters of real estate, or instruct him to formulate a justification for the petition.


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