Foreigners have been given the freedom to buy Slovenian real estate properties since February 2003. But this provision is based on reciprocity. It means that the citizens of the countries that allow citizens of Slovenia to buy property can also acquire real estate properties in Slovenia.
It is worth noting that there are distinct processes that all foreign nationals should follow to acquire agricultural land in Slovenia.
If you happen to be a foreigner who has plans to buy a real estate property in Slovenia, the following are the special requirements and steps you need to know and follow:
Table of Contents:
Obtain an EMSO Number and Tax Number
Before you buy Slovenian real estate, obtain an EMSO number and a tax number from the local authority where the prospective property is located. The EMSO number is somewhat the same as a social security number. The process usually takes about three days.
Contact a Real Estate Agent
Considering the specifics of the property laws of Slovenia, it is highly recommended that you work with a registered and licensed real estate agent. The real estate agent will talk to the seller about your offer and once you accept, they will arrange the drafting and translation of the preliminary contract. Typically, a 10% deposit is required after the contract has been signed.
It is highly recommended that you work with a registered and licensed real estate agent when buying Slovenian real estate properties.
Title Search
The title search is conducted to verify that the property is indeed legitimate as well as the right of the seller to sell it. The modernized Land Registry system of Slovenia has simplified due diligence. This process can often be completed in a matter of two working days.
Final Process
The real estate agent will prepare a community confirmation that the property doesn’t have any communal rights claimed against it, a new copy of the land registry entry, and an official assessment for the correct tax payments.
After everything has been in proper order, the signing of the main sales contract will follow and the rest of the balance will be paid off to the seller of the property.
Registration Timeframe
Finalizing the five processes required for the registration of a Slovenian real estate property usually takes around 35 to 64 days.
The process of acquiring a Slovenian real estate property and the costs associated would vary depending on several factors. Get guidance from the right professionals and you can be sure that you can move into your Slovenian property in no time at all.
Costs
A 2% real estate transfer tax applies to second-hand properties. VAT is levied if that is not the case. The fees of the real estate agent are capped at 4% on top of 20% VAT. The seller and buyer often split the fee of the agent equally. The total costs of the transaction usually range between 2.07% and 5.38% of the value of the property.
It is important to keep in mind that the process of acquiring a Slovenian real estate property and the costs associated would vary depending on several factors. This is why you must get guidance from the right professionals to ensure a smooth and safe transaction and prevent any pitfalls. By doing so, you can be sure that you can move into your Slovenian property in no time at all.
