Guide to the Process of Buying a Business in Spain
When buying a business in Spain you will consider the selling agent, the price, the type of purchase (freehold or leasehold) and the completion. When you negotiate all these factors successfully you should complete the purchase of a Spanish business without any complications. The process is relatively straightforward and is carried out successfully many times a day in Spain. This guide has been provided for those who may not have much, if any, experience of business purchase matters in Spain or indeed anywhere.
The Agent
On the first step you can rest assured you have found the professional option in BusinessForSaleSpain.com. We are fast becoming the leading agent for business sales all over Spain and are expanding our area of operations up the coastal regions from the Costa del Sol, through the Costa Almeria to the Costa Blanca and further afield. We will also soon be expanding inland to the major suburban areas of Madrid.
The Business
Once you have found a good selection of businesses you would like to view in the correct area, the next important step is for us to arrange viewings for these businesses. We will co-ordinate with you to arrange your trip to Spain in order to travel to the various bars, restaurants, hotels, guesthouses, offices, land etc. for you to take a good look and begin your decision process. We will have all information on hand for the selected businesses and nothing to hand will be provided immediately thereafter.
The Price
Once you have viewed your selected businesses you may already have seen a business that perfectly suits your needs. If not we can arrange for the immediate viewing of other businesses that we feel may be similar to your original choices. Either way, once you have made your decision we will then discuss the pricing arrangements with the seller. During discussion a price can be agreed that both you and the seller are happy with.
It is important to note at this stage the various factors that could greatly affect the price of the businesses being sold. The single largest factor that will affect the price is the type of sale that is being negotiated. If you are leasing the business from the seller (who may also be leasing the businesses themselves), this will invariably mean the price will be lower than if you were purchasing the freehold for the business.
Leasehold or Freehold
Purchasing a lease more often than not means that for 5, 10, 15 or even more years you will hold the lease to the business (very similar to a rental contract on an apartment but more involved as there is more to a business than an apartment). When you purchase a leasehold, you will pay rent on the property to the owner (who, again, may or may not be the seller of the leasehold). You will also be expected to pay community costs, terrace tax as well (costs vary from business to business and area to area).
If you are purchasing the freehold for a business and property then you are purchasing not only the business but also the premises associated with the business also. Invariably this means a higher price as you are purchasing the premises as well as the established business as opposed to simply purchasing the established business and renting the property. This option is more attractive if you are investing in the premises in addition to being committed to creating a well-established business.
Completion
Once all matters between buyer and seller have been agreed, the next important step is to complete the buying process. This involves acquiring all the necessary paperwork which we can coordinate between you and your solicitor. The most basic of these is the NIE, which is required in Spain should even wish to simply apply for a mortgage etc. All this can be discussed during the buying process.
We hope this will give you a general overview of the buying process in Spain. It is not intended as a full guide to buying a business, but simply an overview of the process you can expect to go through when buying in Spain.
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