In order to transfer a business into your name, it is necessary to understand the various ways it is done in Spain. In some ways it is very similar to the UK.
FreeholdIn Spain, that normally means you purchase a commercial unit with electricity and water supplies, and then you develop your unit to your own requirements and at your expense. However, there are businesses in Spain that are freehold but have already been fully equipped and are a going concern.
You can also rent a unit from the proprietor on a renewable contract (normally 5 years) and develop it as for freehold property. The problems, whether you buy or rent are evident. You will need material supplies, electrician, plumber, builder, carpenter etc. THEN you will need to ask for permits, licences, water and electric contracts in SPANISH.
By far the easiest is - tell us what type of business you are looking for. We will tell you the cost of preparing your property to start earning. On rental property, this fee makes you the owner of everything except the land. We arrange the land renting contract with you and the owner. The collateral in your business, in Spanish is called TRASPASO.
The second and most common method is TRASPASO . This is similar to the above except that the premises are complete and fitted out for the purposes of the business e.g. a bar is fitted with the machines, refrigerators, furniture etc that you would expect to find in a bar and, with us, your contracts with the electricity and water companies plus the necessary licences to open. Once you have purchased the Traspaso and signed the rental agreement, you are then the owner of everything within those premises and, should you wish, you have the assets to sell at a later date.
In the last example, a non returnable deposit of 15% is normal with the remainder paid upon completion. In Freehold purchase, the deposit is normally 5%. The only other expense relating to the business is the registration with the local authority with the PROJECTO, which is prepared by this office.
