Government approves bill allowing foreigners buy real estate
The government has approved a draft bill that should allow foreigners to buy real estate in the Czech Republic without restrictions. The bill passed by the government on Monday will abolish an exemption which the Czech authorities negotiated with the EU on the country’s entry to the European Union in 2004. If passed by Parliament and approved by the president, the bill will enter into force in May next year. According to insiders, the law will especially benefit potential buyers from other central and eastern European EU member states.