Are Austrian, U.S. Real Estate Restrictions A View Of What's To Come?

By Joe Foltz

Joe Foltz

Recently an American client asked me to assist with the acquisition of real estate in a mountain lake region of Austria. As I began the process I was surprised to learn that a U.S. entity or U.S. citizen may not own real estate in Austria (with an exception for people who have dual citizenship). This is not an ad hominem obstacle to U.S. investors.

With certain exceptions for treaty countries, the same prohibition applies to all non-Austrian persons or entities. These restrictions vary from province to province but as a region of natural beauty and tourist interest this province is particularly restrictive.

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