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Post by dvrgorac on Apr 11, 2012 18:12:02 GMT 1
Hi all I have a Croatian company and wish to transfer ownership to my private person. (Have Croatian Citizenship/passport if that helps) My initial guess is this is probably going to be a complete nightmare  However just in case someone out there knows of a way of doing this or have done it already please let me know Ideally need to know 1) Costs 2) Lawyer that can deal with this and has history of dealing with these things 3) What is required. Limited Company would have to be closed. 4) Is there any worth delaying till the EU comes about? 5) Other things to be careful about 6) Rental issues should I decide to rent in the future Any help would be greatly appreciated. Regards D |
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Post by Carol on Apr 11, 2012 21:19:07 GMT 1
You are asking for at least two separate things here: selling your company's house to yourself
and
closing your company.
The first is straightforward i.e. get the documentation together and write a sales contract sign it in the buyer space in your own name and in the seller space as the company director. Pay your company the money for the house and then register your ownership and let the tax office know so it can calculate RETT.
Then there is the stuff to do on behalf of your company. Presumably you loaned your company money to buy the house in the first place. Once the company has sold the property it can start to repay this "shareholder" loan to you. Your accountant can arrange this for you and its a very simple thing to do. The tax office will make their own valuation about how much your property was worth (they don't seem to be aware that property prices have fallen since 2008 BTW). If they think that you've made a profit, they will be sending your company a profit tax bill.
As to actually closing your company, this has been discussed endlessly on this forum without any real conclusions about the best way forward.
One complication may be what will happen about VAT (if you made a PDV claim in relation to your company's purchase of the house (or the costs of upgrading it). In an ideal world, your accountant should be able to discuss your company's individual circumstances on this issue.
Good luck.
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Post by dvrgorac on Apr 12, 2012 13:30:33 GMT 1
Thanks Carol for your reply.
Can anyone recomend a good Accountant and lawyer that have experience dealing with the above in the Split/Dalmatia area.
From reading the posts the same problems/question seem to be popping up all the time.
On another note is there a website so I can check if my property has been recorded in the land registry? I believe there may be however couldnt find it online.
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Post by sandybear124 on Apr 12, 2012 22:41:22 GMT 1
When buying the property from the company can it be put in the contract that the company will be responsible for the property tax or does the buyer always have to pay it?
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Post by dvrgorac on Apr 13, 2012 10:09:54 GMT 1
Good question.
I noticed the views to replies ratio is very small on this site.
Either no one has the answers or people are sick of the same issues being repeated or a combination of both.
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Post by crojoe on Apr 13, 2012 11:54:41 GMT 1
Good question. I noticed the views to replies ratio is very small on this site. Either no one has the answers or people are sick of the same issues being repeated or a combination of both. Well, I could speculate and give you advise that isn't worth 2 pence. The problem with this site is there are really about only 10 main posters, everyone else visits once in a blue moon, has no interest in Croatia, their advise is way out dated or we have never experianced some of the trick questions asked. For example, I have never purchased a home on a company. I have never purchased an apartment that does not have it's own water and electrical meter (nor would I do such a silly thing). Either way, you sell to yourself you will have to pay and you will need to treat it as a business deal which means you need a lawyer. |
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Post by upthevilla on Apr 13, 2012 12:07:02 GMT 1
When buying the property from the company can it be put in the contract that the company will be responsible for the property tax or does the buyer always have to pay it? No it cannot. The new buyer always pays the property tax |
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Post by dvrgorac on Apr 13, 2012 15:35:48 GMT 1
Crojoe in most countries outside the emerging markets you could probably safely assume that the the property had its own electricity and water supply. In hindsight you are right I should have double checked this. As I bought this off plan even if the developer had promised it there is no guarantee I would have received it.
The big problem is greed, cowboy developers, lack of information and everyone is out to screw you if they can. You only need to look at the posts for 10 minutes to realise this. However this adds to the joy of investing in Croatia.
Love the country, majority of people are fantastic, just a few rotten apples that all.
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Post by sandybear124 on Apr 14, 2012 8:56:25 GMT 1
dvrgorac, have sent you a private email
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