Non-residents i.e. foreigners are allowed to buy real estate in Czech Republic.
The same applies to land property. You can buy a castle like any other property to an individual or a company registered in Czech Republic. The last one applies if you wish to take credit in the future, conduct any business or to have a reason to obtain documents required for living in Czech Republic.
Buying a historic property is always a very happy milestone. It is an epoch-making milestone as you get not an apartment or a house, but an antique castle with its century/ies long history. It is prestigious as number of castles decreases and castle owners, as a rule, are highly respected, wealthy and famous people. But, most importantly, buying a historic site is not only your responsibility but ours too.
Our desire – not just to sell you an antique building, but also help with financing the reconstruction, obtaining building licenses, start a profitable business project.
Typically, the buyer of the castle is required to do the following:
Register a legal entity in Czech Republic. A real estate can be purchased to a private individual regardless of his/her citizenship but it is easier to get grants and loans to Czech nationals, rather than foreign ones.
Get the architectural and historical analysis from the National Monuments Management which will clearly indicate a scope of reconstruction works, what parts of the castle must not be modified and what can easily be removed. This is recommended to have before drawing architectural plans and construction projects.
Create an architectural and construction projects of reconstruction and have it approved by the relevant authorities. Keep in mindthat such projects may be only made by a qualified architect with license from the Ministry of Culture of Czech republic.
Choose a relevant construction company for reconstruction. This company, in addition to experience and imputed prices must be licensed by the Ministry of Culture of Czech republic for carrying out construction work on cultural and historical heritage sites.
Come up with a business plan for a profitable deal at restored castle. This business plan will be vital for you to obtain a bank mortgage loan and will serve as a supplement to any application for state grants.
Regularly apply for grants. Every month you can submit an unlimited number of applications. Some of these can be proposals covering only the restoration of roofs and insulation of walls with windows, some – for opening of the hotel complex or conduction of cultural events. The state covers 40 to 80% of the costs. The remaining part can be obtained as a bank loan.
Get a bank loan for restoration or a short-term one to show the financial viability when receiving state grants.