Buying a Business in Mallorca

Buying a business in Mallorca, The Balearics or Spain whilst not difficult, is very different from purchasing one in the UK. Sales are normally completed fairly quickly unless otherwise agreed with the vendor.

However, you still need to have confidence in the knowledge, skills and professional standards of the third party you choose to use.

To gain this confidence you need to feel sure that the people you are dealing with are properly experienced in running a business such as this in Spain.

Collectively our team have over thirty years expertise working throughout the Balearics and Spain which is why we are market leaders at the cutting edge and able to offer a service which is second to none.

In addition rest assured you will never be pressurised to buy; it is a fruitless, pointless exercise when naturally you will want to make a considered decision.

Deciding on your purchase starts the ball rolling. Once the price and terms have been agreed with the seller, at this stage a simple “Option to Purchase” contract is drawn up by us and written in English.

This contract will show clearly the agreed purchase price and completion date, any terms or conditions of the sale, identify the buyer(s), seller(s) and the business.

A deposit is now paid which under normal circumstances is 10% of the purchase price. The signed contract and paid deposit guarantees you the buyer that the business has been withdrawn from sale.

You should know that in your interest (a) This deposit or any monies paid is held in a dedicated client account and (b) Should any problems arise with licences etc then it is returnable.

Your legal representative will now check licences, arrange transfers, negotiate lease/rental terms where applicable and deal with any other aspects such as escrituras etc.

All fees for these services are payable directly by you to your lawyer there are no fixed scales as purchases differ. However, there is an acceptable band which in normal circumstances for a standard business transfer will be within the region of €1000 and €2000 plus of course any local taxes, iva (vat) which may be due.

During and after the purchase process we are here for you to draw on our help and other services to enable the smoothest transaction and relocation possible.