Buying a business in Spain can be a complicated and expensive procedure; however,
with the right agent and the right advice, it can be made very simple.
Sol Commercials are the experts Buying a car in Spain on the Costa del Sol when it comes to buying a business. We offer a professional, honest and reliable service.
Who can buy a business in Spain
Quite simply, anyone though it is always easier for EU citizens as they have the
same rights as a Spanish national. You must have available funds as Spanish banks
very rarely loan money for business purchases and you must have an N.I.E number
or residency certificate. What types of businesses are available?
You can always purchase empty premises and set up any kind of business but generally
there are all manner of established businesses available for sale such as bars,
cafes, restaurants, retail outlets, hairdressers, beauty salons, offices, shops
and many more. Freehold or leasehold?
Freehold
If you purchase a business freehold, it is exactly the same as buying a home in
the UK. You are buying the building, bricks and mortar. You then own the property
and can sell it at any time. You can also sell a lease of your own to someone else
or rent it out. In some cases it is possible to raise finance to purchase a freehold.
We have mortgage companies who will lend up to 70% providing you have a home in
the UK. Freeholds in Spain are rising in value each year by up to 40%.
Leasehold
Buying a leasehold bar in Spain is a good way of acquiring a business without the
massive outlay of a freehold and this is the preferred method for most buyers.
Purchase price
The price quoted is for a new lease at the terms stated in that lease. You will
normally pay this in one lump sum on signing over of the new lease. It is normal
practice to secure a sale in the first instance with a 10% deposit. This deposit
is non-returnable unless the sale falls through because of the seller. If you simply
change your mind, you will lose your deposit.
Length of lease
This will be clearly stated in all publicity advertising the business and will be
written into the lease agreement. The norm is 5, 10, 15 or 20 years. Sometimes an
endless lease is offered.
Renewing a lease
You have an automatic right to renewal of the lease providing you pay the rent on
time and keep within the terms of the lease. On renewing the lease you do not have
to pay another lump sum but your rent could increase by up to 20%. During the lease