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Croatia

Buyers' Guide

Top tips and points of guidance

Research
Many of our clients have researched the Spanish property market and looked at some of the emerging markets like Brazil, Bulgaria, China, India and Morrocco and decided that buying a holiday villa in Croatia or an investment apartment in Montenegro was the right option for them. Why not join them and contact Adriatic Living today.

Advisors
We recommend that wherever you buy overseas property (whether a dream holiday home or a pure investment) you seek independent legal and financial advice. Good quality advice from a lawyer specialising in buying property in Croatia or Montenegro can save you money in the long run. Also see the section on currency exchange and feel free to use the currency converter to make the most of your investment.

Ownership
As a general guideline, the following steps may help you to purchase a property in Croatia.
If you are a UK or Irish citizen, you may under the condition of reciprocity, acquire real estate in Croatia.

There are two ways of buying property in Croatia (each with its own merits):

As a Private Individual.
Via a Croatian Company.

As a Private Individual
If you wish to purchase the property privately as a foreign national you will need to obtain authorisation from the Ministry of Foreign Affairs. This is a straightforward procedure though it can take a period of time of around 6 months. It is possible to complete the purchase while awaiting permission. It is purely a document formality and is usually accepted. Under Croatian law a mortgage facility is unavailable to foreign nationals purchasing as private individuals.

Croatian Company
This method is the fastest route. Once the company is set up you will nominate the shareholders (i.e. yourself). This Croatian Company can then purchase the property immediately without any permission requirements. There are advantages of purchasing property in Croatia via a 'Croatian Company' e.g. obtaining a mortgage but these need to be offset against the initial and ongoing costs in maintaining the new entity.

Currency Exchange
Most sales are quoted in Euros so it is worth keeping an eye on the exchange rate as this can work for or against you. If you are buying one of our off-plan developments (e.g. Olive Island) where there are staggered payments then some currency brokers can 'forward fix' an agreed price with you for a later date. This enables you to know exactly what you are paying in sterling giving you peace of mind. Alternatively you could opt for a 'spot price' closer to the time. It is also worth 'shopping around' so that you are comfortable that you are getting a good exchange rate compared with the high street banks.

To help you with real time currency conversion for the best euro exchange rate, beat the bank and see the Moneycorp currency converter. This and other financial information can be seen on the Moneycorp web site www.moneycorp.com or tel +44 (0) 20 7589 3000 and just say you heard about their excellent services from Adriatic Living Ltd.

Contact us now by e-mail or +44 (0) 1932 851 882

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