Does anyone (or know of anyone ) own property in the Czech Republic?

[joeybee12]

Been checking into it, possibly for retirement. You have to set up a company in order to buy property, and then pay taxes. Anyway, the company you set up really doesn't have to do business.

That's what I know. Has anyone done it? Does it get expensive with taxes? Like I said, been thinking of doing it for retirement, which is still a few years off, but I think maybe I should buy now while prices are still low.

Anyone have any first or second-hand experience with doing this? Wondering if it's worth it!

[htuttle]

1. I don't, but I'll czech around at work

:spank:

[joeybee12]

2. Yuk, yuk....

....there's one in every group!

[joeybee12]

3. Kick!

[MasonJar]

4. Great idea. I love the Czech Republic.

[joeybee12]

5. Kick! Started this Monday night--let's try Tuesday morning!

[amazona]

6. I just checked at International Living

...and the Czech Republic isn't one of the suggested countries.

I think any time you are scamming someone -- setting up a shell business when you don't plan to do business is, after all, a scam -- there is a chance that you could be the one who is scammed. Just a general rule, mind you. If it were me, I would visit the Czech Republic on my vacation and talk to some expats and see what the stories are. Renting often makes more sense than buying in foreign countries, because if you become severely ill in retirement, you have to return to the U.S. to get Medicare -- they don't provide it to expats.

Again, I know nothing about the Czech Republic -- just suggesting a very general line of investigation. I'm thinking about visiting there myself (but not buying property) so if I do, I'll try to remember to come back and post a trip report.

[joeybee12]

7. Thanks for the info...

...my understanding is that they (the govt) knows you aren't really doing business. They just want the VAT tax. I wish you didn't have to set up a business--I know other countries allow foreigners to own property, but, of course, the CR is very less expensive than those, such as France or Italy!

[joeybee12]

8. Kick one more time--just on the off chance.....

....someone responds!