Tuesday, 31 January 2017 06:00

Buying a Business in Mallorca

Buying a Business in Mallorca / Business Brokers in Mallorca / Why Buy in Mallorca.

Calo des Moro

Mallorca, also spelt Majorca, is one of the Mediterranean’s most beautiful locations and provides entrepreneurs with the perfect opportunity to establish a highly desirable lifestyle. With the frequent sunshine and a continuous influx of holidaymakers, it is easy to see why so many people view setting up business in Mallorca as a lucrative and enjoyable venture.

Mallorca is the largest of Spain’s Balearic Islands with fantastic beaches, local historical attractions, as well as excellent restaurants and nightlife that entices many holidaymakers from across the globe year on year. For many, a Spanish sun holiday is a perfect way to spend their annual leave, and the holiday does not have to end as many people return to Mallorca to invest in a business and retire there. Mallorca offers a fantastic quality of life for both Spanish locals and the expats who move there, and the year-round sunshine is of course highly desirable.

Buying a business in Mallorca is a great opportunity for entrepreneurs and experienced professionals alike as the island is an extremely popular destination with the international airport, Palma de Mallorca Airport, being one of the busiest in Spain. As part of the European Union, Spain attracts many fellow Europeans who want to visit a country that also has the Euro currency, and with so many visitors coming to the island there is the ideal opportunity to set up and run what can be a popular and profitable business.

The Business Broker Spain team have over 25 years of combined experience in helping businesspeople from around the world find the right investment to match their objectives, as well as successfully selling an already established business. Our team enable you to achieve your goals and find the right business or buyer, as well as relocation assistance, language translation, advice with opening bank accounts and finding accountants or other business experts. We will also assist you with your legal obligations such as company documentation, licences, permits or other registrations you need to complete.

Buying a Business in Mallorca

Spain offers numerous benefits for businesses due to its geographic location and climate, as well as having a stable government and economy, making it appealing for development and investment opportunities. Being part of Europe also means that trade between other EU countries is easier and the labour and transport costs are low.

Using a professional business broker in Spain is the best way to buy or sell any business in Mallorca as you will receive expert help and advice from a highly experienced team. Whether you are wishing to buy or sell a Spanish bar, restaurant, shop, or bed and breakfast in Mallorca, our expert team will guide you through the entire process and use our vast network of owners, investors and suppliers to ensure you get the best service possible. Business Brokers Spain also has a range of amazing investment opportunities for those wishing to start or develop their portfolio in Mallorca.

For those interested in investing in the island, having a professional Spanish-based negotiator is essential to provide the help and advice you need to find your ideal business or sell your existing enterprise with ease. At Business Broker Spain, our management team have vast experience in the sale of businesses in Spain and have offices across Spain as well as in London.

For the professional way to buy your next business in Mallorca, contact your nearest Business Broker Spain office today: Alicante +34 965 020 527, Marbella + 34 95 127 226, London + 44 203 773 5016 Tenerife +34 822 680 011, or email info@businessbrokerspain.com.

Published in Blog
Friday, 16 June 2017 10:33

What's it Really Like living in Spain?

What's it Really Like living in Spain?

Having lived in Spain for over 13 years, I hope I can give a comprehensive answer to the question which I get asked on a daily basis.  Once you have made the move my advice is to embrace the culture as soon as possible, this will take some getting used to.  For example banks only open half from 8.00 am until 2.00 pm, the famous siesta from 1.30 pm until 4.30 pm where you will find the streets deserted, shops closed and everything at a stand still!  Don't expect shops to be open at 9.00 am  most open at 10.00 am or there about's!   If you expect the same working hours as the UK, you are in for a big shock!  Arrange for a tradesman to meet you or meet a Spaniard for business and most likely they will be late such is the laid back attitude, and as I mentioned previously this takes some getting used to if you originate from a disciplined work background!

Living in Spain offers you an incredible lifestyle, masses of culture, fiestas, diversity, and sunshine! The Spanish love their fiestas and each town prides itself in hosting these spectacular events so much so there are fiestas taking place somewhere in Spain, either at a local, regional or national level.  Once you have experienced a fiesta it will leave you waiting for the next one!

The diversity of Spain offers you fabulous coastline and beaches as you well know, however you are able to be in the mountains in a very short period of time and a few hours drive you could be skiing!

The weather is a major factor in people making the move to Spain, ask most people and they will tell you that they had enough of dull grey skies, cold wet summers and miserable winters in the UK.  Living in sunshine for the majority of the year offers so many different possibilities for a healthy outdoor lifestyle, plus the feel good factor to wake up to glorious sunshine!  One thing you can do here is plan for the weekend without the weather spoiling your plans, so get your BBQ ready!

Living in Spain

Coming to Spain opens doors to a new world of friends and acquaintances, however you have to be prepared to work at this and make the effort, join local clubs, talk to people, don't be shy!  Everybody will help you if you have a question and need some guidance if you ask and the Spanish will help and they appreciate you making an effort with the language.  The language should be learnt and even you aren't 100% fluent it goes such a long way to interacting with locals and enjoying their company, and don't be afraid to try the little Spanish you have learnt or learning, you will be rewarded for trying.

Working in Spain is hard, and anyone that tells you different is lying! There is very little work for expats and don't expect wages the same as the UK!  Before you move here be prepared to work, if you are buying a business in Spain then we can advise and help you through the whole process, but don't think for one minute having your own business will be easy.  My advice is that you have to be a certain person to be self employed, you have to a be fighter, not be beaten, and a grafter.  Simply because it will never always be plain sailing and there will be times when the chips are down and you have to fight to survive.  Anyone that's got or had their own business will know exactly what I am saying.

To summerise , Spain is a wonderful country, it's welcoming and offers fantastic opportunities and a fabulous place to live.  However, don't compare it the UK!  I hear many expats saying "well I could it in the UK"  you aren't in the UK!  Respect the laws, respect the people and work hard to build your life here and you won't go far wrong.  I for one have never looked back, I am passionate about living here and I enjoy every minute of it.

Published in Blog
Wednesday, 31 May 2017 12:15

Mallorca is a Jewel!

Mallorca Cathedral

Discover Mallorca and fall in love with it's charm and character, we guarantee that you will. The turquoise sea, fabulous beaches and hidden coves, small villages effervescing with character and a modern vibrant city it's impossible not to!

AlcudiaThe island is steeped in history however very little is recorded of the earliest inhabitants of the island. Burial chambers and traces of habitation from the Neolithic period (6000–4000 BC) have been discovered, particularly the prehistoric settlements called talaiots, or talayots.  The northeast of the island is famous for it's history Alcúdia which was founded by the Phoenicians, is understood to be the oldest city in the Balearic Islands. A successful Roman conquest in 121 BC,  resulted in Mallorca coming under the control of the Roman empire, and settlers poured into the north and south, forming Pollentia, in the area of Alcúdia, and Palmaria (Palma).
At the turn of the first century BC, Alcúdia fell under the command of Emperor Augustus, and it thrived for the next couple of hundred years, until the invasion of the Vandals in the fifth century. The Vandals were succeeded by Byzantine and Moorish invasions in the sixth and tenth centuries, and Pollentia fell to ruin; but even today there are interesting remains of this important Roman settlement which you can visit.

Mallorca became famous for it's "package holidays" many years ago, however town halls have refurbished the resorts resulting a far more friendly and family atmosphere.  

Palma

Palma is the capital city of Mallorca and is home to over 50% of Mallorca’s population.

Palma has evolved considerably, largely to city planning and extensive renovation measures in the old town. The ‘pearl of the Mediterranean’ is today stunning, and millions of visitors each year are charmed by the Mediterranean ambiance. In 2015, ‘The Sunday Times’ named it the world’s best place to live, now that's hard to beat!

Culture runs through the cities veins, with numerous galleries and museums such as Es Baluard and Palau March offering diverse exhibitions and classical music concerts all year round.

On the island there is a place for all tastes and ages and you will find your own piece of paradise.

Playa del muro Mallorca

Published in Blog
Saturday, 21 March 2015 12:35

Buy a Business

Buy a Business

Purchasing A Business in Spain

Buying a business in Spain is a relatively straightforward process, particularly if you are well advised and are dealing with professionals with first hand experience in the market. Here at Business Broker Spain, our management between them have more than 25 years experience in the sale of businesses in Spain. We doubt sincerely whether there is another agency with this level of expertise. From the sale of their first Spanish business in 1990, our Directors have advised in the sale and purchase of literally thousands of small and medium businesses throughout Spain. As a buyer you have no fee to pay us, all of the businesses that we sell are commission inclusive with all of our fees being paid by our vendor client’s.

Business Broker Spain offers impartial advice and helps you through every step of the process, and the golden rule we tell all clients is this “If you wouldn't do it in your own country, don't it here”
Many people forget to use their brains, or actually leave them on plane!   Our role is simple, we provide you with sound advice and recommend quality legal representation if needed to help you avoid the pitfalls.

Buying a Business in SpainOur services to buyers include all of the following and more!

Personal Guidance and Viewings

Business Planning

Supplier Negotiations – if you are buying a bar or a restaurant, you will want to make sure that you get the best terms from your suppliers. Our contacts and expertise will ensure that you can buy your products at the best prices thus making certain that you run your new business as profitably as possible.

Lease Negotiations – we will negotiate favourable lease terms with the landlord of your business where the business to be purchased is in rented premises.

Conveyance Introductions – it is essential that you obtain good legal representation and from someone that speaks your language.

NIE Numbers – in Spain we each have individual financial identification numbers, much like your Social Security numbers in the UK. For foreign nationals this number is called your NIE (Numero de Identification de Extranjeros), once allocated this number is with you for life and is both your VAT registration number and personal ID number. You will need this number prior to opening your new business and an important part of our services to new buyers is to guide you through the simple process of acquiring it.

Guide to Purchasing a Leasehold Business

Firstly obtaining finance from a bank to purchase a leasehold is very difficult in Spain unless you are can to guarantee the business against a property. The agreed price you are paying for the leasehold is paid in full on signing of the purchase contracts and the lease agreement with the landlord.  In normal circumstances a deposit of € 8,000 or 10% (whichever is higher) is payable. The deposit secures the business and it is non returnable.  Completion of purchase can be done within 10 to 14 days.

Standard Length of Leases

The normal lease length is 5, 10, 15 or 20 years, on a rolling contract.

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.

During the Lease

• Payment of the agreed rent on a monthly basis will be made.
• The business can be run in accordance with the terms of the lease (i.e. as a bar or shop).
• Refurbishment of the premises can be made to the décor etc., but any structural work permission from the landlord will be needed.
• Utility charges are the responsibility of the leaseholder
• The landlord is responsible for external repairs.
• The rent will increase only by the rate of inflation each year
• On renewal of the lease, negotiations on a new lease price and term will commence approximately 2-3 months prior
• Upon renewing the lease you do not have to pay again for the business.

Selling the Lease

Normally you can sell sell the lease within a certain time frame of commencing your new lease contract with the landlord and the landlord will have in the contract that you will pay him a percentage of the price you sell for. Permission will normally have to be granted to sell from the landlord and he has the to agree to the new prospective tenant.

Freehold Opportunities

Purchasing a business freehold, it is exactly the same as buying a home in the UK, it's no different, you will receive the deeds to the property.  Obviously you then can lease your building, and generate an income from it.

Contact us now at info@businessbrokerspain.com

Published in BBS
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