Will you obtain a residence permit if you own a real estate in Prague?

I often receive emails from foreigners who live outside the European Union and want to buy real estate in the Czech Republic in order to obtain a residence permit here. Just recently, one of my clients wanted to buy an apartment in Prague for half a million euros, because someone told him that thanks to this he would get a Czech visa.

Is it true? Watch in my video or read in the article below.

The ownership of real estate in the Czech Republic does not give a right or even a benefit to obtain a residency here! This means that if you buy a property in the Czech Republic, it may be easier for you to obtain a tourist visa, but not more than that.

Well a residence permit can be obtained on the basis of an investment in the Czech Republic. For this you will need to submit an application explaining that you are going to open a business in the Czech Republic, create at least 20 working places and invest 75 million Czech crowns, about three million euros.

Those who do not have that kind of money will have to apply for a residence permit in a standard way, for example, on the basis of an employment contract in the Czech Republic, study or business. In regards to the business – renting your own property is not seen as a business here. Instead you will need to open a company, develop a business plan, show sufficient funds, etc. And if the Czech authorities consider your intentions serious enough, then you will receive a two-year business visa.

I am not a visa specialist, I am a realtor, and my task is to explain to foreigners that owning real estate in the Czech Republic does not help them with obtaining a residence permit. However, buying real estate in Prague is still a safe investment. If you are thinking about investing in Prague, contact me and I will guide you through the whole process.

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