Rental Company for Sale

[pk]

I see from the message boards that a number of non Croatians are having difficulty in either acquiring a property or, if they have a property, are still waiting for the permission to come from the MOJ to show that they legally own the property. Some have a property but not the rental license and therefore cannot rent out legally.

We have a Company which was specifically set up for renting purposes. The Company has one apartment located in one of the most fashionable parts of Dubrovnik. The property was acquired as a new build and therefore has "clean title and papers". It has a rental license and a three star rating from the Dubrovnik tourist Board. The Company has traded profitably over the last four years and the Directors now wish to sell it. The apartment comes fully furnished to high Western standards and also comes with an allocated parking space ( very useful in Dubrovnik !). The Company has no PDV issues and has a signed Dopunski zapisnik from the tax office.

The Company is operated as a business very much like a hotel. However, in order to rent the property to tourists, we had to obtain Categorisation from the tourist board. The Company has a letting agent that looks after the renting business.

Note though that as we are selling the Company and the purchaser will not have the hassle we had when setting up a Company. This is therefore a ready made registered Croatian Company which can buy and sell property as well as earn rental income form the property portfolio.

Should anyone be interested in acquiring the Company please send me an E mail.
Regards
PK

[felicia]

Presumably then the buildings being rented out through this company all comply with the recently reinstated law in that they have commercial usage on their original building permits as required by the Heritage and Buildings Dept. (sorry cannot remember exact title but have it somewhere) who are the ones conflicting with the Tourist Board requirements which also prevents private non-nationals from leasing to agents who then in turn were able to rent to tourists. But the "commercial usage" is not in place on the original building permit (since houses and flats are built as private dwellings) so this way around the problem no longer stands.

[cropal]

If the property already has it's license from the Dubrovnik tourist board wouldn't this be inherited by the new owner? I am assuming that the new owner owns the company but it's the same company who owns the license and therefore no new application would need to be made ?

[pk]

Everything is in the Company name - the apartment and the rental license. To acquire the Company you would be purchasing the Directors shares in the Company. There will be no need to apply for a rental license as the Company already has one.