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BUY A BUSINESS IN SPAIN
If you consider living in Spain but you still do not know how to make a living
there you should think about buying a business in Spain. As tourism is one of
the most important economic sectors in Spain you could buy a business in one of
the Spanish touristic areas. You could become the owner of a bar or a
restaurant or even buy a hotel or a casa rural at one of the coasts or in a
nice inland-region.
If you consider starting a new live with a new business in Spain you should
think about it carefully and ask a qualified Spanish estate agent for help. As
the law in Spain is very different from the one in your home country that you
are used to and also because there are working a lot of crooks in the property
sector, especially on the Spanish coasts, it is important to receive advice of
a trustworthy person with wide knowledge in this area.
 Most of the businesses in Spain are sold on a
leasehold basis. The lease can range from 5 to 25 years and can normally be
renewed at the end of this time. During this period you, as the leaseholder,
will have to pay an agreed amount of rent to the landlord that can only
increase by the rate of inflation every year. When the lease is due for
renewal, the rent can be raised by 20%. As leaseholder you are also responsible
for the service charges on the business such as taxes, costs for electricity,
gas and water and the social security payments for you and your staff.
It is also possible to sell the lease to someone else at the time you are the
leaseholder. You can raise the price but normally you will have to offer the
lease to your landlord. If he does not want to pay the going rate you can offer
it to someone else but then you will normally have to pay a commission, usually
20% of the sale value, to your landlord. As the leaseholder you have to obey
certain laws. You have the responsibility for the business license, you are not
allowed to alter the structure of the building without the permission of the
owner and you cannot sublet the business.
If you are buying a business in Spain on leasehold basis you will have a
detailed lease contract that will outline all the terms. Even if most of them
are standard, it is important that your lawyer will examine the contract and
translate it for you. If nobody in your Spanish lawyer's team is able to
translate contracts or other important legal and official documents, you should
ask for the help of a Spanish translator.
Once decided to buy a Spanish business, you should bear in mind that running a
business in Spain, whether it is a bar, a restaurant or a hotel, is not going
to be an extended holiday. You should be prepared for long working days and
nights and there will be a lot of little problems lying ahead but if you are
well prepared they can all be solved quite simply.
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