On 1 May 2004 Poland has joined the European Union
. Having an economy which is structurally transformed, quickly became the target of European investors, by EU-experts is considered as the one of the good-analyzed real estate market in Central- and East Europe. Many fiscal and local low regulations correspond to EU-standards, foreigners are able to acquire properties.
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Purchasing property by foreigners is governed by the Act of 24 March 1920 on Purchase of Real Estate by Foreigners (Journal of Laws of 2004, No 167, item 1758 with further amendments).
It is not obligatory for foreigners being citizens or entrepreneurs of member states of the European Economic Area (EEA) to obtain from Minister of Interior and Administration a permit to acquire realty or land. The Regulation of the Minister of Internal Affairs and Administration, dated 26th April 2004, on detailed information and types of documents, which a foreigner, applying for a permission to purchase real estate, is obliged to present (Journal of Laws of 2004, No 94, item 925) stipulates: detailed information, regarding circumstances, indicated in the application for granting permission on purchase of real estate by foreigners; types of documents, which a foreigner, who applies for the permission, is obliged to attach to the application; sample statements. EEA is the free trade area created on the basis of the treaty of 1992, consisting of the European Free Trade Association of European Union countries, Norway, Iceland and Lichtenstein.
Information on the purchase of real estate by real or law persons can be found on the web pages of the Ministry of Internal Affairs and Administration: www.msw.gov.pl.
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