Here at Laws in Spain, we realize the importance of good clear advice when it comes to setting up a new business or commercial venture. We ensure that all new commercial contracts are legally binding and that you understand the implications and conditions of entering into a contract.
Our job is broken down into two parts. The administrative side of things which is the setting up of bank accounts, the filing for the NIE numbers and residents cards, the checking and preparing of new lease contracts & the presentation of these documents in the corresponding offices and Town hall’s. The second part is made up of the work involved in the technical side of opening license, projects, plans and corresponding inspections.
The process that we usually follow for the transfer process is to confirm all the details that have been given to the estate agents from the owners/sellers, and request a draft of the proposed rental agreement. At the same time we will send our engineer to have a look at the property and then he will check at the town hall that there will not be any issues in changing the opening license into your name. These are the first steps that we will undertake in the due diligence process.
Once the initial checks have been carried out as mentioned above then any deposits paid would be released to the seller under a deposit agreement setting out the terms for the completion. These will include the price, the deposits paid to date, the duration of the contract and the completion date period.
We have a member of staff who will handle the after sales matters with you either in our office or at the place of business. They will be able to spend some time making phone calls, changing the names on the utility bills, setting up phone and internet for you etc. She will be on hand at the start as much as you need her for the first few days.
We work directly with a firm of accountants and I recommend their services to set up your social security and tax etc. I would recommend a meeting with them as soon as you can to run through the social security and tax obligations.
The standard fee that we charge is 1.500€ plus IVA ( 1.815,00€) for the transfer.
This includes the transfer process, all administrative documentation, bank accounts, and the after sales service.
The engineer would usually charge 450,00€ Inc. IVA for his work including all applications needed by the town hall.
Most town halls charge a fee to change the name of the municipal opening license which is usually in the region of 400,00€ inc IVA
The accountant would charge 200,00€ to set up your tax and social security obligations.
The transfer process should therefore be in the region currently of 2.800-2.900€ including all the above.
If you wish to send a reservation deposit to our account we are happy to receive it. We will then be able to notify the seller that we are due to receive the deposit on your behalf and request the information from them that we will need to commence our work. We also request please, from all our clients that they pay a retainer for services to begin the due diligence process of One Thousand Euros (1.000€), with the balance payable at the completion of the purchase.
In the event that for any reason we cannot complete on the business purchase, the retainer paid will remain on account for a period of six months from when received and is non returnable once received.