1.WHAT ASSISTANCE CAN POLEIRE PROVIDE?
Power of attorney
A power of attorney is a formal legal document by which you give someone else the power to do certain things on your behalf. You can give power of attorney to somebody to do pretty much anything on your behalf. There can be many reasons why you may wish to get somebody else to sign the title deeds on your behalf instead of doing so yourself.
for instance:
You may be very busy and are finding it difficult to get the time off work;
You may decide that you would rather use your holiday time enjoying the property rather than signing the title deeds;
You may decide that it is cheaper to get somebody to do it for you rather than flying out to the country that you are buying in;
You may decide that it's such an important document that it is best left to somebody who is familiar with the system;
You may be worried that if you book flights out to sign the title deeds, the signing could be delayed for some reason.
We also can set up a company & provide a business address for you.
We have plenty of clients that have never been to Poland
2.HOW MUCH COMMISION DO YOU CHARGE ON EACH PROPERTY?
3% plus VAT (minimum €4000 + VAT)
Please contact us to discuss as on some properties there is no commission.
3.WHAT ARE THE ANTICIPATED EXPENSES WHEN PURCHASING A PROPERTY?
2% tax
Court Fee for ownership entry in the Real-Estate Register: 200 PLN
Court Fee for entry in the Mortgage Register: 60 PLN
Court Fee for entry in the Mortgage Register: 60 PLN
Notarial Fee:
Normally: depend on value of the house:
Euro Rate used €1 = 4.50zl
up to 3 000 PLN (€666) 100 PLN (€22,22)
over 3 000 PLN (€666) up to 10 000 PLN (€2,222.22) €100 PLN + 3% of excess over 3 000 PLN (€666)
over 10 000 (€2,222.22) PLN up to 30 000 PLN (€6,666.66) 310 PLN (€68,88) + 2% of excess over 10 000 PLN (€2,222.22)
over 30 000 PLN (€6,666,66) up to 60 000 PLN (€13,333) 710 PLN (157,77) + 1% of excess over 30 000 PLN (€6,666.66)
over 60 000 PLN (€13,333) up to 1 000 000 PLN (€222,222.22) 1 010 PLN (€224,44) + 0,5% of excess over 60 000 PLN (€13,333)
over 1 000 000 PLN (€222,222.22) 5 710 PLN (€1,268.88) + 0,25% of excess over 1 000 000 PLN (€222,222.22), but not more than 6x of average monthly income in national economy in the last year.
We can achieve approxamitely 50% discount on notary figures.
4.DO YOU SUBSIDISE VIEWING TRIPS?
No, this allows us to keep our prices low. We will however collect you from the Lodz Airport & bring you to all the properties we have on offer.
5.ASIDE FROM OBVIOUS COSTS OF BUYING, WHAT SHOULD BUYERS KNOW ABOUT THE COST OF OWNING PROPERTY?
Income Tax,
Maintenance Bills.
Property Tax
6.WHAT IS THE TAX IMPLICATIONS FROM RENT?
Under current Polish legislation, rates of income tax are as follows:
Taxable Base (Polish Zloty PLN)Up to PLN 37,024 (€9,873.07)
Tax (PLN) 19% + PLN 530
Taxable Base (Polish Zloty PLN)Between PLN 37,025 (€8,227.77) and PLN 74,048 (€16,455.111)
Tax (PLN)30% + PLN 6,504 (€1,445.33)
Taxable Base (Polish Zloty PLN)In excess of PLN 74.048 (€16,455.111)
Tax (PLN)40% + PLN 17,611 (€3,913.55)
You will also be subject to Irish income tax on the net rental income received (not depreciation), but you will receive a credit for Polish tax deducted on that income.
7.DO I HAVE TO PAY TAX IF I SELL THE PROPERTY?
Polish Capital Gains Tax changed in January 2007 to 19%. However, for an Irish resident and domiciled individual, the gain will be liable to Irish CGT at 25%, there is however a double taxation agreement.
8.Can my Property be Rented Out?
Yes - We provide this service, renting to local & corporate Tenants.