What is the difference between freehold and leasehold?
Freehold: The freehold option for buying a business is the same as the UK. You buy the property and the business outright.
Leasehold: In the past this has been known in Spain as a traspaso. The contract issued is renewable and ongoing. Similar to a rental contract, but you have the right to sell the business and contract on to a third party. When you buy in this way normally the price includes the business, goodwill and fixtures and fittings of the unit.
Rental: There is a third option and that is a normal rental contract on a commercial property. Usually you then take a completely empty local (office or shop) and then you have the responsibility of installing everything. Eg) Floors, windows, electrics, water etc.
How long does the process take to purchase a business?
As we complete all the necessary checks on a business to ensure there are no outstanding debts or problems, the purchase procedure can be completed very quickly. Normally within a week.
How does the tax system and accounting work?
At Costa Blanca Business Brokers we ensure that you receive full support and professional advice. We will therefore introduce you to a professional accountant who will set up the correct paperwork for the tax offices and any employees you may take on. On an ongoing basis, the accountant will take care of your paperwork to ensure you pay the minimum amount of tax necessary, this is done at a very reasonable price.
I don’t speak any Spanish, will this be a problem?
If you were to buy a business inland amongst the Spanish population, then I would say that it is essential to gain a grasp of the language. However, in the tourist resorts, English is widely spoken. Many businesses have all English speaking customers and suppliers have English speaking representatives. There are many ex-patriots living in Spain from all walks of life and you will be able to find English-speaking, professional builders, accountants and anything else you may need. In fact, we will be able to introduce you to many English speaking professionals to help you along your way.
How much will it cost us to employ your services?
Our service is totally free to the buyer. We are paid by the seller and this cost is included within the sale price. Our charges are only paid when a contract to purchase a business is signed.
How much money can I expect to make from a bar?
Profit margins are normally in the region of 60-70%.
Will it be easy for me to obtain the licence for a business in Spain?
If you are buying an established business, then the procedure is very simple with a change of name only needed on the license. If however, new paperwork is needed to obtain the licence then we can help you with this to ensure that all runs smoothly.
Do I need a visa to work in Spain?
As the UK is part of the European Union, you do not need a visa to work in Spain. You will need to register for a NIE number (National Identification Number), which is a very simple procedure that we help you with.