Buy a Property in Denmark
Buy a Property in DenmarkUpdated on Wednesday 13th September 2017
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During the last several years, the number of foreign students coming to Denmark has increased exponentially and many of them remained to work or to start their own businesses here. If at first renting an apartment or house was the best solution, later, buying their own properties made more sense. However, before starting the property purchase process foreign citizens or investors must know that there are a few requirements related to this procedure.
In order to buy a property in Denmark, a foreign citizen must:
- - have lived in Denmark for a minimum period of 5 years prior to the purchase;
- - be an EU citizen who work here;
- - be a non-EU citizen with a valid investor or residence visa.
Our lawyers in Denmark can offer more information on the requirements related to buying a property in this country.
Types of properties which can be bought in Denmark
Before explaining the Danish property purchase procedure, one must know that both individuals (as seen above) and companies can own real estate here. This is why the type of real estate to be bought in Denmark are divided into:
- - commercial properties;
- - residential properties.
Residential properties are further categorized as:
- - detached or terraced houses;
- - apartments;
- - co-operative apartments.
Once the type of property is chosen, one can start the preparations for the purchase which can imply a pre-sale agreement and after that the sale-purchase contract. However, it is best to request the legal services of a law firm in Demark when entering such contracts.
Completing the purchase of a property in Denmark
Before concluding the purchase and signing the sale contract, the future owner will have some time in which he or she can verify the property. A check with the Land Register and a technical inspection of the property are part of the standard real estate due diligence procedures in Denmark.
If the buyer is content with the choice, the contract has been signed and the money transferred to the seller’s bank account, the real estate must be transferred to the new owner’s name. This is done by registering the property with the local Land Register which will issue the new property title.
For full information on how to buy a property here, please contact our Danish lawyers. We can also help you open a company in Denmark.