What You Need To Know

Many people have left the UK to set up business/project and a new home in Spain, most are happy with their move and have an excellent new way of life. However, it is not something you go into lightly, a great deal of planning is required to make the move as smooth and successful as possible. You only get one go at it. We as Intermediaries help you or introduce you to people who will assist you with all aspects of the move, NIE Numbers, Schools, Accommodation, Pets, Doctor/Clinic, Registrations, Town Hall Licenses, Lawyers and much more after sales attention for weeks, Months and sometimes years. This is what we get paid for and why our minimum built in charges are dependant on the extent of the project 8,000 Euros upwards. we are on hand virtually every day to attend to you.

SELECT THE CORRECT/PROPERTY/ BUSINESS/PROJECT: - Find out as much as you possibly can about the business/property/project, why is it for sale?, how long had the last people been there?, how long has the business been established?, is it in a good location with all year trade?, Is the business trading well?, (Business we list are all trading and/or viable due to their location otherwise we do not entertain them). Who owns the business, does the seller have the right to sell, lease or pass on the property be it written or verbally. Has the Landlord been informed of the transaction, is the rent up to date, if not then, it could be that the previous people struggled. Is the property/business free of all debts. These are just a few of the most important thing to look out for, we have a much larger check list which we complete for our Clients, that is what we get paid for. We check all as best we can but very occasionally people lie to us. We cannot make provisions for this or be responsible for it but their lies do catch up with them. If you 'go it alone' or use an unscrupulous agent the you could be going in to a transaction blind and asking for trouble. Be sure that you have a Legal Representative, you would not buy a house or business in the UK without one so why do it in Spain. Use an Independent Legal Advisor who is not connected with either Agent or Seller. Do not part with any money until your Advisor says it is safe to and all the checks are carried out to his/her satisfaction.

PURCHASING THE BUSINESS: - Once you have decided on a property/business/project, do not be forced in to paying a deposit on the pretence that you may lose the business if you don't. Get the checks over with first, most of the business we list are already pre-checked and we know all about them. It is far better to lose the chance to buy a business than to lose all your hard earned money, so don't, under any circumstance, be rushed. It never fails to amaze me the amount of people who are ready to believe a person they have never met before and in doing so, put themselves and their families at risk. Don't get carried away in the heat of the moment or at a drinking session, keep a clear head, there will be plenty of time to celebrate after you have made the right decision. Even if you don't go through us, we will be pleased to check out any business for you or act as your 'Buyers Broker' if you choose this route working for you on your side. We have prevented people losing money in the past, some agents don't like us for it. Agents who offer to cut the price of a business leave no margin for looking after you after the sale. Don't be tempted to do the job on the cheap. Our Fees/Commission/Profit (Rental/Lease Transactions, Key Money) is built in to the cost to you and more than sufficient as mentioned above to offer our Clients an after sales service and ranges from 5 to 15% of the freehold value If you leave nothing to chance then, your purchase will be safe.

THE CONTRACT
Before any contract is signed/agreed be it freehold, lease, rental or rental, verbal or with verbal permission to pass the business on (we will tell you which it is), it is not unusual for a landlord to give verbal permission to pass a business on providing the rent has been paid up to date and he receives any participation that may be due to him/her from the transaction. It is also not unusual to be asked for key money which is usually for goodwill and to pay agents commission, expenses and/or profit. It is not unusual in Spain for sellers to receive part payment in cash  but Before any money is handed over, you need to know what comes with the business, so, together we usually take an inventory of all equipment etc that is included in the sale, this inventory then becomes part of the contract. In some cases we may hold back funds from the sale price on completion day, in most transactions the inventory is checked just prior to completion. Contracts must be straightforward and where possible we try to have them all in English and understandable. Your legal advisor/Jestor is responsible to you and should read the contract to you in full. Full English translation can be supplied at nominal cost. We as a company act as Intermediaries.

MOVING IN - TAKING OVER - GETTING STARTED 
In most cases the outgoing owners stay on to instruct the new owners at no charge for a given period so as you are familiar with how the business runs, where all the switches and plugs are etc, who are the suppliers and on what days they call. On take over we will supply you with a guide on running a successful business in Spain, written by the writer of this Information Pack which you should find invaluable. We can help you organise your official opening party which usually takes place some time after you take over, giving you time to settle in to a system. These parties are always well attended by local traders, ex pats and the general public alike. Please ask for your guide.

TAXATION
Is similar to most European Countries with 2 systems to choose from, I have never to this day heard any Bar Owner complain at how much he/she has had to pay on the good profit they have made. We will, of course, introduce you to a professional who will take care of your books and accounts which will free you to concentrate on the business and making money.

HEALTH CARE
Spain has a First Class health care system with the most up to date and state of art hospitals and clinics. I was rushed in as an emergency and spent some time in a Spanish Clinic where I was treated by what I can only describe as Experts who, to this day. I am grateful to for my life especially Dr Carillo. We have since had many of our clients use the hospitals all of which were delighted.

LICENSES - LEGAL FEES OTHER EXPENSES ETC
Prior to Brexit As a National of an E.C. Member State, it was your right to work and live in another Member State and to be afforded the same treatment as a National of that State. Fortunately, I studied Basic EC Law at university and am fairly familiar with the Treaty and many of it's Directives and Regulations and am happy to say that, people leaving the UK to set up business in Spain will now find it much easier than in the past, however from January 2021 this will change as the UK leaves the EU. We will introduce you to Legal specialists/Lawyers and/or Jestors that will handle the legal work required to get the business license in your name and advise on the required visa options. Charges vary dependant on the business and what district it is in but a guide where a license is already in place with a business would be around £2,200. For a new project from scratch would obviously be more. Please also remember to allow for other expenses such as legals/due diligence €1,200 a charge we make for checking and preparing the legal contract and due diligence relating to the transaction but not to be confused with lawyers or jestors fees/taxes which are always separate and charged by them, Lawyers fees are high but they offer as we do, a professional service. Advance rent on the business and living accommodation must be considered. Be sure that you understand all the start up costs.

SCHOOLING FOR YOUR CHILDREN
Schooling for your children is vitally important as is their being settled in their new environment. There is a wide choice of either State or Private schooling. We will be pleased to advise on which we consider best for your children, take you and introduce you to the Principals of the schools in order that the children are settled. If the Children are not happy and settled then neither will you be.

LIVING ACCOMMODATION
Most new business owners on their arrival in Spain move into a nice comfortable and fully furnished apartment/Town House near to the business. We will help all our Clients locate accommodation. The cost of accommodation obviously varies depending on where you want to be, the amount of rooms and the style. An example would be a 2 bedroom model averages around €450.00 per month. Sometimes less.

LANGUAGE
You will be pleased to hear that in most popular resorts English is widely spoken so it is not vital that you speak Spanish, however, it is a nice language to speak and can be rewarding to learn a little. Young Children will be speaking fluent Spanish in around 3 months, sometimes less.

BAR - BUSINESS OWNERS - EX PATS 
Bar and business owners have their own associations/social media forums in most resorts and hold regular meetings and events, there are also a wide range of English newspapers that are printed locally, satellite/cable TV is widely available and on in most bars.

OUR FEES - WHO PAYS US?
As with most Agents/Brokers, our fees/commissions/profit (similar hourly scale to those charged by Solicitors) are normally paid by the seller or built in to the initial cost of the transaction/project as in most countries and is normally a minimum of euros 8000 to include preparing contracts/leases, introduction to tax and fiscal advisor, introduction to suppliers to ensure you do not pay too much and maximise your profits, schooling for children, and many week and months of after sales attention, these fees only become due once the contract to buy/lease/rent has been signed/made/agreed, However, you may wish to employ us as your 'Buyers Broker' where we work for you alone and charge you a fee which is normally a percentage of the sale price ranging from 5 to 15%. This fee and sometimes more, we negotiate out of the transaction/seller/owner for you. This is the system widely used in the USA and other countries which buyers prefer. we can let you have more details on becoming your 'Buyers Broker' if you wish.(A high percentage of Clients in the past opted for this scheme) The important thing to remember is; we have NO HIDDEN CHARGES. Once the contract is signed/made/agreed our fees become due. On a Rent/Lease/Traspaso contract, fees are sometimes calculated on 5-15% five to fifteen percent of the Freehold valuation in order to arrive at a fair payment for the agent which he will  have earned.

TRANSPORTING YOUR PERSONAL EFFECTS
There are many companies who specialise in transporting your personal effects. We would be pleased to put you in touch with the ones we recommend. We do not advise you to bring all of your furniture with you as most English furniture does not fit in with Spanish architecture and design and costs a great deal to transport. Pets can be easily transported by road, rail or air and providing you abide by the import regulations are freely admitted to Spain. We can advise you further on this if and when you require.

In Conclusion

It is still a fairly simple procedure to purchase a business in Spain, set up home and fulfil your dreams of a new way of life, many thousands have already done it and would not, under any circumstance, come back. If you are prepared to take notice of the advice we give and you work at your new business then, you will be rewarded in many ways. Changes are due to come in to effect in January 2021 as the UK leave the EU.

Some people do fail, but they will be the first to admit that, they went into the venture with their eyes closed or took wrong advice from unscrupulous people. There are agents out there that care nothing about you, your family or your future. We are here to help you, that is what we get paid for and are with you before, during and after any transaction and have been for over 35 years and Many Millions in £'s , Pesetas and Euros in Client Funds have safely passed through our Lloyds UK Company account.

Our experience tells us that you will have a mountain of questions and queries so please list them as you think of them and do not hesitate in calling or let us know if you would like to meet with us to discuss the venture. It is a big move and it is nice to sit down face to face.

Despite the years we have been in this business we never lose sight of the enormity of the move you are considering and look forward to assisting you in every way we can.

Noel Philip Lynch. 

Euro Business Consultants (Spainproperty.net Ltd) Registered In England & Wales Reg No.5095996

Planning a on Viewing a property in Spain ?

The following advice is intended for your protection and to ensure that you have "Peace of Mind" whilst you are viewing properties prior to, during or after a purchase.

People who purchase Property/Bars, Businesses etc in Spain through Agents who are resident in Spain have little or no protection whatsoever and virtually no comeback if things go wrong. Many Agents care only about their commission and not you or your family, despite the impression they may give.

Some Agents do not care what business/project you purchase and will tell you anything to get you to part with your hard earned money. When things get tough or go terribly wrong, some Agents are nowhere to be found. If you had to take action against an unscrupulous Agent in Spain then, you would find it a very difficult, long and expensive process. We have permanent offices in the UK and are a fully registered Limited Company. .

Some purchasers, with the best of intentions, try to "Go It alone" hoping to save a bit of money but invariably get caught and lose their investment. SOME TIME BACK IN BENIDORM MRS 'T' THOUGHT SHE COULD SAVE THE AGENTS COMMISSION BY GOING DIRECT TO THE SELLER. SHE PASSED OVER APPX €22,000 IN CASH, THE SELLERS DISAPPEARED WITH HER MONEY. SHE LOST IT ALL. WE HAVE HEARD OF OTHERS TOO You would not purchase a property in the UK without proper advice so why do it in Spain. Be very, very cautious if replying to small adds you see in the Local Free English language newspapers whilst you are in Spain. Ensure that anyone you are dealing with is either long established with satisfied clients he/she can introduce you to and is not just a privateer operating out of a car and a mobile phone and hiding behind a local Lawyer or pretending to be the Owner of the property.

We offer some protection to our Clients, even if they are not viewing through us. We can if you choose act as "Buyers Broker" for you the Client, a system successfully used and accepted throughout the U.S.A. for many years and one we recommend you consider using if you are traveling out to view with us and/or any other Agents. If you travel out with us and wind up purchasing through another Agent and it all goes wrong, we could be held responsible for bringing you out in the first place. So we need to be on hand as your Broker to advise you against a purchase if we feel it is unsafe. We will be working for you for our nominal fee as your "Buyers Broker" ensuring that you get the purchase you want. If other Agents have nothing to hide then, they will not mind us being your "Buyers Broker" and should be pleased that we are advising you. We will often save you more than our nominal fee. The Buyers broker scheme is separate and differs from our usual Intermediary position. Please ask for details.

The Usual Duties of A "Buyers Broker"

A "Buyers Broker" if you choose this route is retained by you to look after your interests and is normally a person who has particular experience in the Spanish Real Estate Market. A "Buyers Broker" in most cases will carry out many more tasks than an English Solicitor would. We let you know in writing our charges before we start work for you.

• He/She will locate properties/businesses/opportunities for you that best meet your criteria.
• He/She will negotiate on your behalf, the price, the contract and the conditions within it with any other Agents, Vendors or Lawyers.(or introduce you to a lawyer)
• He/She will advise you in respect of any property or purchase and use his/her best efforts to ensure that you are protected against any transaction that is felt would not be in your best interests or to your best advantage.
• He/She will arrange Inspection Flights and accommodation for you and your party at the most reasonable cost and pass on any discounts offered to you.
• Every effort is always made to ensure that the cost of the Inspection Flight and accommodation is as reasonable and comfortable as can be obtained.
• He/She will investigate and inspect any property under consideration and report back to you with the findings.
• He/She will ensure you receive professional advice on all legalities in connection with running a business in Spain and that all of your paperwork is checked by these people and in order.
• He/She will ensure that you become familiar with the area in which the business you choose is located.
• He/She will be on hand to assist and advise you in the UK, when you are viewing in Spain and be available for further advice after you have taken over the business.
• He/She will act as "Escrow Agent/Stakeholder" in the transaction and not release any funds to any other Agents/Vendors until such time as conditions have been satisfied.
• He/She will gladly notify any other Agent that He/She is retained as your "Buyers Broker"

A "Buyers Broker" is your Agent, Advisor and Friend. ©