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- N I number:
N I number is the equivalent to the English National Insurance Number.
To buy a business in Spain you need to be registered, this is done through your N I number.
To get your number all you have to do is go to the national police station in the area not the local police with your passport fill out the necessary forms and one month later your number
will be waiting for you, alternatively your agent will be able to direct you to gestoria who will
do the job for you for a nominal fee.
- Bank Accounts:
Opening a local bank account again is not something that is complicated, all banks have English speaking staff some banks specialise in English customers (your agent will be able to tell you which) You can go into some banks and wait to see the manager (other wise just make an appointment) who will open a account for you. You will need your passport and €50 and a little bit of time because remember you are in Spain. If you don’t have a Spanish address all correspondence will be sent to your English address.
- Knowing what you want:
This may seem a silly thing to say but a lot of prospective clients (buyers) come over not knowing what they want to buy apart from a bar.
There are all different types of bars
Drink only bars ---- Drinks with snacks---- Drinks with restaurants--- Restaurants----
Music bars---- Karaoke bars and more.
The decision you are about to take is a big one so take the time to decide the type of bar
that is going to suit your talents and expertise.
- Buying the bar of your choice:
When viewing bars check what is being left and what is being taken. All bars are sold as
seen so check that the nice mirror or bric a brac are being left.
Ask about the rent and the terrace tax (if Appropriate)
Ask about the cost of electricity and water.
Gas is bought in bottles on a weekly basis.
Ask the owner of the bar what they are doing and where they are going, you don’t want them opening a bar next to you and taking all their customers with them.
- The buying procedure:
Upon deciding on the bar of your choice you will have to pay a 10% deposit this is paid to the agent, this payment guarantees that the bar comes off the selling list and that the price will
not alter. These moneys are usually placed in a client account until the completion of the sale.
You will sign an option contract; this is usually 30 days but can be more or less with agreement
SpainBars deal only with certified lawyers
You will be introduced to a lawyer (you become their client and the lawyer is there to represent you Not the seller not the agent) they will check for any outstanding debts against the property and also check the licenses this will cost you 1% of the buying price. You can do it cheaper but you have no legal recourse if anything goes wrong.
- Completion:
Right the day has arrived, everybody meets at the lawyers, the landlord, outgoing lessee, agent and not forgetting yourselves, leases are signed, moneys and keys exchanged.
More and more transactions are now being made in Euros this is not unusual
CONGRATULATIONS
You are now the new owners.
Please note
This guide is a personal one and does not profess to cover all situations if you have any queries do not hesitate to contact us here
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