Clear advice on Brexit for UK buyers

UPDATED 20 January 2021.

There is some confusion and sadly misleading information being given to UK and non-EU citizens about buying property in Austria at the moment.

Here is a quick steer based on unambiguous advice provided by our retained lawyers in Innsbruck who help our EU and non-EU based customers buy apartments in Tirol, Austria: according to the TGVG 1996, United Kingdom nationals are no longer covered by the fundamental freedoms for the purposes of the Tyrolean Land Transfer Act.

This means UK citizens can no longer buy property in Austria as a natural person like other EU citizens but they can buy using a European Company (Ltd or GmbH) and we can set this up.

We have many associate companies in Tirol and we know how to create an EU company to buy the property (the directors and shareholders can be of any nationality).

We have been using this SPV approach for years for non-EU buyers from the US, New Zealand, South Africa and Norway etc

Tax treaties between the UK and Austria are negotiated separately between us and not under the control of the EU so there will be no change in that respect.

It is possible that after 31 December 2020, there could be an agreement that enables UK citizens to buy in Austria just like before – there could be a special case made for the UK (after all, we are their 4th most important tourism market and highest spenders per capita).

And there are also 3 times more Austrians living in the UK than Brits in Austria and the Austrians are keen to keep things the way they are and avoid any reciprocal changes.

Please do not hesitate to contact us or call on +44 20 3735 8790 for advice without any obligation.