Denmark is a country where there is a high standard of living and therefore it is a popular place with desirable real estate, especially property located near docks and harbors. The country is not open for non-residents or foreigners to purchase real estate. You must meet several qualifications before being allowed to buy any real estate in the country, including getting permission from the Minister of Justice.
Restrictions on Foreign Buyers
Plus, you must have a permanent address in Denmark, as well as having lived there for five years or more. If you have a business in Denmark and a work visa, you may also be allowed to purchase real estate. However, there are additional restrictions for real estate such as properties considered to be vacation homes in coastal areas, as these are restricted to Danish citizens.
A possible way to get around some of the restrictions on buying property if you are a foreigner is to form a private limited company, which is called “Anpartsselskab” or “ApS” in Denmark. It’s also best to get an attorney to help you to understand the sales agreement, as well as the contracts, survey reports, and how to run a check through local councils. In Denmark it is usually a real estate agent that writes up a sales contract to buy property.
Once a suitable property is found, the attorney will investigate it for the potential buyer, make sure the reports are legitimate, and then do the check with the local council in the buyer’s behalf. Negotiations will then be made for a final price with the real estate agent and the contract will be written up for signatures.
For more information please visit us at Algerens.