The Buying Process in Budapest, Hungary Released by: . Web Site: http://www.wwpropertyinvestments.com/budapest.php The Buying Process in Budapest, Hungary Email: info@wwpropertyinvestments.com Keywords: The Buying Process in Budapest, Hungary Update Date: 1/29/2007 1:54:48 PM Hits: 157 Descrption:  The Buying Process in Budapest, Hungary All property is freehold and the purchaser buys their unit outright plus a percentage of the whole building. When buying at a new development there will be a preliminary contract signed when the deposit is paid followed by a final contract when the unit is handed over. There are two ways to buy Hungarian proerty as a foreigner, as a private individual or by setting up a company. In order to buy as an indivual the buyer as to file a request for permission to the municipality of Budapest, the request will then be answered withing 60 days, although usually much sooner. The request will be approved if you wish to buy only two apartments. Should one wish to buy more than two apartments it is possible to either register the third apartment under the name of an associate or family member or establish a Hungarian RT company that can buy and sell properties with no restrictions. Setting up a company to buy a property will cost around 1300 EUR, but the company route is essential for investors who want to buy more than 1 unit. Apart from the low corporate tax rate mentioned before, another benefit to buying through a company is that when resold the company CGT rate is just 16%. Having a Hungarian company also avoids the need for a purchase permit, which private indiviuals are required to have and this can take around 6 months. For more information on Budapest Investment Property, please contact WW Property Investments for the latest property developments on info@wwpropertyinvestments.com Contact infomation: info@wwpropertyinvestments.com