Who Will Profit Most from New GUP?
Investors, project designers and construction companies appear to have all gotten what they wanted from the new Urban Development Master Plan (GUP) – the opportunity to build throughout Zagreb in a much less constricted way. The paper lists the...
Helsinki Satisfied with Crotram
The Sunsail / Thirsty Thursday Sailing Weekend
We are planning another sailing weekend for the May Bank holiday. If you are interested, please email us to register. CLICK HERE
For advice on buying property, living, working or moving to Croatia, please contact us. Click on the image below to launch a live CHAT session, alternatively email us directly with your questions.
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The office is open Monday to Friday from 9am to 5pm Central European Time. If you are trying to contact us out of these houses, please email - info
Adriatic Property Services has a range of removal services available to assist people in getting their belongings into Croatia. Click here for details
ACQUIRING / BUYING PROPERTY IN CROATIA
According to Croatian Law on Property Ownership, foreign citizens and enterprises will need to obtain consent from the Ministry of Justice in the Republic of Croatia.
Any application may be initiated by the application or through an attorney by sending a request in writing to The Ministry of Justice in Zagreb.
Permission will only be granted to a Foreign Citizen if there is a Reciprocity Agreement between Croatia and the State where you are a registered citizen. This means that if a Croatian Citizen has the right to acquire property in your home country then you have the right to acquire property in Croatia.
Full details on law governing Property Acquisition can be found at http://www.mfa.hr
If you require the assistance of an attorney in making your application, our Legal department can advise and assist. Please click here legal@adriaticpropertyservices.com.
There are 2 methods of acquiring property in Croatia, PRIVATE Purchase or COMPANY Purchase. In both cases Buyers must pay an additional 5% RET (Real Estate Transfer) Tax on the purchase price.
Private Purchase
Suitable for individuals buying property as a long term investment (in excess of 3 years to avoid current Capital Gain Tax legislation) or a holiday home (i.e You will not be renting it out!) You must apply to the Ministry of Justice for permission to purchase (as detailed above), but the purchase CAN be completed before permission is granted. If for some reason your application is refused, you can still purchase the property through the company route (see below).
Company Purchase
If you are planning further investment in your property (new construction / renovation etc) or planning to rent your property out, then purchasing through a company may be advisable. Incorporating a company cost approx €700 and will take between 4 and 6 weeks to complete. You will need to deposit 20,000 Kuna (€2,000) with a Croatian bank; this is the minimum Investment capital. These funds can be used to pay for company expenses. Individuals are required to be present when they start the incorporation process.
If you would like to discuss the options, please contact our accountant via email - accounts@adriaticpropertyservices.com
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