Private individuals cannot purchase property unless they are a Czech national, so a Limited Liability Company (known as a s.r.o) must be set up to carry out the purchase. The company can be set up after an EU card has been obtained – this is done simply by asking for one from the local authorities, and as long as the reason is valid (studies, management of a company and employment are valid reasons) the card should be simple enough to obtain. Once the card is obtained, the s.r.o can be set up – this is a relatively quick procedure and usually takes one to two days to sort out. There are agencies available that can help with setting up companies for property purchases if the whole process seems a little daunting.

Once the company is set up then the property purchase can go ahead. First – as always – a local, English-speaking, trusted lawyer should be hired to aid with the buying procedure. They can check documents and aid with dealings, making sure the purchase is above board and that the reclamation process has already gone through, thus avoiding potential pitfalls at a later date, as well as helping out with translations and interpreting sellers and real estate agents. A deposit is paid to the seller, usually of around 10-20 percent of the total cost, and a contract is signed. The contract is then sent to the local Land Registry to be ratified and so the property can be officially signed over to the buyer. Once this process is complete – which can sometimes take up to seven months – the remaining monies are paid to the seller and the deal is concluded.

Once the transaction is complete a number of taxes and charges are paid – agency fees, lawyer fees and other charges.