What if I do not complete on the Sale?
If you simply change your mind or cannot complete by the agreed date, after you have paid your deposit, for any reason, you will lose your deposit and it will not be returned to you. This is under Spanish law and will be in accordance with any contract you sign.
What if the Seller does not complete on the Sale?
In the event that the seller of the business, for any reason, failed to complete on the sale – your deposit is returned to you in full or you can transfer the deposit to another business purchase.
What if there are any Debts on the Business?
Your Gestor will check any debts and in the event that there were any debts found outstanding, these will either be paid by the seller prior to completion or will be deducted from his money for your Gestor to pay. Either way, you receive a debt free business!
How long will the lease last?
Leases vary, but leases usually last for 5 years and then are renewed. You can get leases for 5, 10, 15, 20 years and even lifetime leases. You will be told before the signing and paying your deposit, how long your lease will be.
What happens when the lease expires?
At the end of the lease contract term, you have the option to renew the lease for another term. Your landlord can increase the rent by 10% to 20% if he wanted to.
How much will my Rent increase by Each Year?
Your rent is fixed under the term of the lease for the duration of the contract. The rent will only increase each year by a couple of percent with inflation.
Can I sell the lease?
Yes, you can sell the lease for your business at any time that you want to. Remember, you will need to pay a percentage to the landlord and a commission to the agent who sells it for you.
What is the legal Age to buy a Lease in Spain?
You must be a minimum of 18 years old.
Will I fail?
If you buy the right business, with the right agent and you work in a professional way, you should make a decent living and will not lose all your money. The people who tend to fail are those who think that moving to Spain is an extended holiday and that the don’t have to work – they are wrong – buying a business in Spain is the same as anywhere else – you have to work hard to make it work!
Do I need a License?
No, you do not. All businesses that are offered by Costa Businesses S.L. are licensed. In Spain it is the premises that are licensed, not the person. Your Gestor will check that everything is above board with the license on your business.
Legal Costs
Costa Businesses S.L. works with a very reliable and experienced Gestor on the Costa del Sol and they charge 2500€ and for this fee, they will do everything for you, which includes checking that your business is debt free, checking license, drawing up and checking lease, NIE number, Social security, accounting and much more. This gives you a complete package and covers everything in order that you can start working from day one without any stress or problems.
How Much Money do I need?
When you buy the business, you will need the initial cost of the business purchase price. You will also need 3 months rent (2 month returnable deposit and 1 month rent in advance) and 2500€ to cover all of your legal costs. You should also consider that you may need to buy stock, pay a deposit to rent an apartment, buy a car etc.
Living Accommodation
Costa Businesses S.L. can help you relocate to Spain with your new business and we can also find you good quality rental property within a close distance to your new business. Speak with your Costa Businesses S.L. consultant and they will be pleased to help and advise you. We do not charge any of our client’s commission or finders fees to find you a rental property, so this is a totally free service that we are pleased to offer all of our clients.
When you rent a property in Spain, the contract is usually for 11 months and this can usually be renewed if you are happy to stay there and that the landlord is happy you have paid the rent on time. You should allow for a two month returnable security deposit and one month rent in advance.
We always stress that the most important thing is to first establish where your business is going to be located as you can then arrange to live within a sensible distance, often walking distance if you do not want to drive, of your business.
If you are looking for an apartment to rent, you should allow an average of about 600€ per month for a decent 2 bedroom apartment, which would be fully furnished and ready to move into. We can find you apartments, townhouses and villas in all areas in many different price ranges. This is something that we will discuss with you and will be pleased to work with you and find you something to your satisfaction.
Why choose the Costa Businesses S.L. as Your Agent?
Quite simply; the Costa Businesses S.L. has an untarnished reputation and offers all clients a personal and professional service. We really work with you and consider all of your circumstances and requirements when it comes to us advising you on a business purchase.
All of the team at the Costa Businesses S.L. Team have vast experience of living on the Costa del Sol and an array of experience in running businesses in Spain. Our team have experience in running bars and other businesses in Spain, which means we know the pitfalls to avoid and can advise our clients, knowing they are getting the right advise from experienced people!
Costa Businesses S.L. is operated by a registered and licensed limited company, meaning your money is safe with us.
