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Our commission: It gives us a great sense of achievement to be a part of the investment success, save scarce capital resources, as well as time and effort of the client. A maximum return is our goal and the fee structure reflects this principle.
Why Poland
"We think Bulgaria and Poland offer the best prospects for property growth, but it won't be a smooth ride." - James Hughes of City Trading Post. Saturday May 1, 2004 The Guardian
About Us
ZIG'S PROPERTY DEVELOPMENT is transition of our Polish company Dom Romanow – Real Estate and Construction (Romanow’s House) which was operating from capital of Lower Silesia – Wroclaw (W.Pola street No 70; 51-123 Wrocław) in years 1999 – 2004.
Mortgages in Poland
If you will need mortgage to buy property in Poland , you will have to remember that:
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All loans may be available on case-by-case basis.
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Interest only loans are not popular.
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Non-status/self certification mortgages are not available.
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Letting scheme mortgage was just introduced by WBK SA for 30 years period but you will need proof of other income as well to back up your rental income.
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100% value of the property mortgage may be available but only for some types of the properties,
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Acquisition of Real Estate by Foreigners
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Page 1 of 5
ACT
of 24 March 1920
on the Acquisition of Real Estate by Foreigners
(The texts in English version are not official ones and are presented for information purposes only.)
Art. 1. 1. The acquisition of real estate by a foreigner requires a permit. A permit is issued through an administrative decision by a minister competent in internal affairs, with the consent of the Minister of National Defence, and in the case of agricultural real estate, also with the consent of a minister competent in the country development.
1a. A refusal to issue a permit provided for in paragraph 1 shall be expressed, through a decision, within 14 days of providing an interpellation by a minister competent in internal affairs. In particularly justified cases, a minister competent in internal affairs, upon the motion of a body entitled to objection, extends the period of lodging thereof to two 2 months within the day of providing an interpellation by a minister competent in internal affairs.
1b. A refusal to issue a permit provided for in paragraph 1 shall not require to address the Minister of Defense or a minister competent in the country development.
2. A foreigner in the meaning of this Act shall mean:
- a natural person not possessing Polish citizenship;
- a legal person having its seat abroad;
- a company not being a legal person, of persons provided for in items 1 or 2, having its seat abroad, established in compliance with the legislation of foreign states,
- a legal person and a commercial partnership not being a legal person, having its seat on the territory of the Republic of Poland, controlled directly or indirectly by persons or companies provided for in items 1, 2 and 3.
3. In case of a commercial partnership, controlled company, in the meaning of the Act, shall mean a company in which a foreigner or foreigners directly or indirectly possess over 50 per cent of votes at the partners assembly or a general assembly, also as gagee, user or upon the basis of agreements with other persons, or have dominating status in the meaning of Article 4 § 1 item 4 letter b) or e) of the Act of 15 September 2000 – Code of Commercial Partnerships (Journal of Laws No 94, item 1037 as amended).
as a controlled company in the event of a commercial company.
4. The acquisition of real estate within the meaning of this Act shall be the acquisition of the right of ownership to real estate or the right of perpetual usufruct on the basis of any legal event.
5. The acquisition of a second house within the meaning of this Act shall be the acquisition by a foreigner provided for in Article 1, paragraph 2 item 1, real estate destined for development or recreational purposes, which shall not constitute a permanent residence of the foreigner. This shall not apply to the acquisition of a separate living accommodation in the meaning of the Act of 24 June 1994 on premises ownership (Journal of Laws of 2000, No 80, item 903).
Art. 1 a. 1. A permit provided for in Article 1, paragraph 1, is issued upon the motion by a foreigner if:
- acquisition of real estate by a foreigner does not pose threat to the defensiveness, national security or public order, and is not in opposition with social policy and public health considerations,
- the foreigner proves that there arise circumstances confirming the bonds whereof with the Republic of Poland.
2. Circumstances confirming a foreigner’s bonds with the Republic of Poland may include, in particular:-
possessing Polish nationality or Polish origin,
- celebrating marriage with a citizen of the Republic of Poland,
- possessing a permit to reside for a definite time or to settle,
- possessing membership of a managing body of entrepreneurs provided for in Article 1, paragraph 2 item 4,
- conducting business of agricultural activities on the territory of the Republic of Poland in compliance with the provisions of Polish legislation.
3. A motion for the issuance of a permit shall contain:
- determination of the motionist and legal status whereof,
- determination of the real estate to be acquired,
- determination of the seller,
- description of the legal form of acquisition of real estate,
- information on purpose and possibility of acquisition of real estate.
4. The motion provided for in paragraph 3, a foreigner applying for the issuance of permit shall append with documents confirming circumstances stated in the motion and circumstances provided for in paragraph 2, as well as any other documents enabling determination of fidelity of acquisition of real estate.
5. Area of the real estate acquired by a foreigner in order to provide for the living needs whereof may not exceed 0.5 ha, and in the case provided for in Article 1 a, paragraph 2 item 5, it shall be justified by actual needs arising from the nature of the business activity conducted.
6. Acquisition of agricultural real estate by foreigners shall also be effected with observance of the provisions of The National Agricultural Constitution Act of 11 April 2003 (Journal of Laws No 64, item 592).
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