Introductory Act to the Federal Act on the Acquisition of Real Estate by Persons Abroad (Real Estate Acquisition Act) (Grundstückerwerbsgesetz) - Holiday Apartments

1. An additional cantonal approval ground pursuant to Art. 9 BewG is the acquisition of a property as a holiday apartment by a natural person in a tourist area.

2. The licensing authority allocates from the quota.

1. The Government Council shall designate, by regulation and after consultation with the municipalities, the municipalities or parts thereof that require the acquisition of holiday apartments by persons from abroad in order to promote tourism.

1. Municipalities may issue additional restrictions pursuant to Article 13 BewG through ordinances.

2. The ordinances must be submitted to the approval authority, the authority entitled to file complaints, and the Federal Office of Justice for acknowledgment.

1. The assurance of approvals to a vendor (principal approval) expires if an individual approval is not applied for within three years from the date the decision becomes legally binding.

2. The approval authority may extend this period by a maximum of two years for important reasons, if requested before the period expires.

1. Permitting Authority: Pursuant to Article 15, Paragraph 1, Letter a of the BewG, the Justice and Security Directorate is designated as the permitting authority.

2. Cantonal Authority Entitled to Appeal: Pursuant to Article 15, Paragraph 1, Letter b of the BewG, the Directorate of Economic Affairs is designated as the entitled cantonal authority to appeal.

3. Appellate Instance: Pursuant to Article 15, Paragraph 1, Letter c of the BewG, the Administrative Court serves as the appellate instance.

1. Before making a decision on the granting of a permit, the competent authority shall obtain the opinion of the municipality in which the property is located, as well as the opinion of the authorities according to Article 19 of the Ordinance on the Acquisition of Real Estate by Foreign Persons (BewV).

1. Depository for the Deposit of Shares in Real Estate Companies pursuant to Art. 11 Para. 2 letter h of the Implementing Ordinance is the Nidwalden Cantonal Bank.

1. The granting authority charges a fee for its decisions.

2. The government council establishes the fees in a regulation.

1. The Executive Council issues the implementing provisions necessary for enforcement.

1. In aparthotels that exist at the time this law comes into force, a natural person may still be granted permission to acquire a residential unit within the framework of the cantonal quota.

1. The following decrees are repealed

1. the Introductory Ordinance of May 10, 1985, to the Federal Act on the Acquisition of Real Estate by Persons Abroad (Real Estate Acquisition Ordinance);

2. the District Council Resolution of May 10, 1985, on the Designation of Tourist Municipalities within the Meaning of the Real Estate Acquisition Ordinance.

1. This law is subject to a facultative referendum.

2. It shall be published in the Official Gazette and included in the compendium of laws.

3. The Executive Council shall determine the date of entry into force; subject to approval by the Federation.