What Foreigners Need to Know When Purchasing A Property in Slovenia

Slovenia, located in Central Europe, is one of the most beautiful destinations- so it’s no wonder that it’s rapidly becoming a hotspot in real estate. The small Balkan country is a member of the European Union (EU) with a Euro currency, and an estimated population of 2.08 million.

Slovenia is perceived as safe and rather untouched by worldwide events, with a low crime rate, as well. Its geographical position is advantageous, with plenty of summer and winter activities, all of which explain why buyers would be interested to own property there. After its official membership in the EU in 2004, citizens of EU countries were given the right to buy properties in Slovenia as would a Slovenian citizen.

Here are some things you need to know, if you are not from a country belonging to the EU – when buying a home property in this scenic country.

Law of reciprocity

If you’re from a non-EU country, the law might differ, but citizens of the United States of America, for example, can purchase properties here without restrictions, as prescribed by the provisions of the Treaty on Trade and Navigation. You can buy property based on reciprocity and this requires presenting several documents to the Ministry of Justice, which include:

A notarized copy of the passport
A statement of the purpose of purchasing of the property (Identifying if it’s for residential or business purposes, etc.)
A detailed document about the property that is issued by the Surveying and Mapping Authority.
Payment of all administrative fees.

Make sure your documents are all translated, if needed, to avoid any sort of delay.

If you’re not from any of these countries, you still can purchase property if you have started a business in the country, or also in the case if you’re married to a Slovenian citizen, or if you have inherited property there.

How to buy a property

Find the property: If you are looking for a property there are a couple of things you need to keep in mind. You might be looking for a Slovenia property for sale to be utilized as a residential home or an investment property or a mix of both. It would be in your best interest to contact a real estate agency that would know the country inside out, to help you invest in resort real estate. Since 2003, estate agencies have been regulated by law and must be licensed and registered, and pass exams, so be assured of the quality and legality of their work.

Apply for tax number. The next step you must take is to get a tax number and an EMSO number (similar to a social security number) from the local authorities where the property is located. This process usually doesn’t take but a couple of days.
Title search. Title records are public records listing ownership, encumbrances, liens, and other similar factors. The Land Registry must do a title search, and this can be accomplished in just a matter of days.
Final step. New copies of the land registry entry need to be made, showing no communal rights is being claimed on the property. This is followed by an official appraisal for an official payment of taxes.

If all your papers are in order and no bumps or hitches along the way, you can be the proud owner of a property in Slovenia in around 3 to 6 months, give or take. Buyers from the United Kingdom used to be the main market, but now there is a wider range of buyers from countries across the globe. Though there has been an increase in prices, like most places around the world, Slovenia is still perceived as offering good value in comparison, where you can enjoy both rural and urban lifestyles.

We are happy to present this collaborative post to offer valuable information to our readers.

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