REALWorld Law

Sale and purchase

Ownership restrictions

Are there any legal restrictions on foreign investors acquiring real estate?

Poland

Poland

The Act on the acquisition of Real Property by Foreigners dictates that the purchase of real estate by an entity considered to be foreign is conditional upon prior permission in the form of a decision issued by the Minister of Administration and Internal Affairs if no objection is made by the Minister of Defence or – with respect to agricultural real estate – by the Minister of Agriculture and Rural Development. Any breach of this obligation will render a transaction null and void.

These rules apply equally to rights of perpetual usufruct.

However, since Poland's accession to the European Union, foreigners from the European Economic Area or Switzerland are not obliged to obtain such a permission, save in relation to the purchase of agricultural or forest land, where a permission was required until 1 May 2016.

Since 30 April 2016 a law is in force, fundamentally changing the rules of trade in private and public agricultural properties, applying also to foreign investors.

This law introduces, subject to a few exceptions, a prohibition on selling real properties composing Resource of the Agricultural Property of the State Treasury Agricultural (Zasób Własności Rolnej Skarbu Państwa) being at the disposal of the Agricultural Property Agency (Agencja Nieruchomości Rolnych) (which was replaced on 1 September 2017 by the National Agricultural Support Centre (Krajowy Ośrodek Wsparcia Rolnictwa)) for five years following entering into force of the said law. After this deadline the sale of such real properties will be permitted, as an exception, to a limited group of persons and in a form of limited tender.

Moreover, this law limits also the trade in the private agricultural properties. The law introduces a number of criteria a purchaser of the agricultural property should meet (individual farmers, congregations and religious associations). Entities which do not meet these criteria are obliged to obtain a consent of the Head of National Agricultural Support Centre. The area of the purchased agricultural land may not exceed 300 hectares. Such properties should be used as an agricultural holding and may not be disposed of for the next 5 years.

This law extends the pre-emption right of the National Agricultural Support Centre to any agricultural property and introduces a pre-emption right of the National Agricultural Support Centre in relation to the purchase of shares in a commercial company, which owns agricultural property and in case of the personal changes in a partnership, which owns agricultural property.