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Q.
I have seen advertisements by estate agents saying I must only
deal with one registered with G.I.P.E. or A.P.I. Why is this?
A.
This is not true - the laws have changed! According to directive
67/43 of the European Community, recognised in Spain in 1985,
the ONLY THREE legal titles then were "Agenta de la
Propiedad Inmobiliaria (A.P.I.), "Administador de Fincas"
and the "Expertos Inmobiliarios" (A.P.E.I.) - -
NOT G.I.P.E.! THE
ROYAL DECREE: Royal
Decree-Law 4/2000,
of June 23, re urgent measures
of liberalisation in the real estate sector and transport. These
activities are
now open to anyone,
"without necessity of having a qualification or being a
member of any Institute." If
an estate agent hides the truth about titles - what else may he
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Q.
I’ve heard of people that have bought a home or business and
inherited a lot of debts. A. There have
been horrific cases of this happening, it usually does if
someone buys directly with the owner or an unscrupulous
agent, or someone met in a bar. This cannot happen if you
use qualified agents like us. We ensure you receive the property
free of all debts, correct title and all necessary paperwork up
to date.
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Q. I speak little or no
Spanish, will this be a problem? A. No by far the majority of businesses in the Canary Islands
is tourist based. Over half of more than 5 million tourists are
English and most of the others speak English as a second
language.
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Q. I don’t understand
Spanish rules and regulations and I am worried about making a
mistake. A. Regulations are not complicated but we will introduce you
to an Gestore who will look after all your paperwork and legal
requirements.
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Q. I’ve heard tax is low
in the Canaries. A. Yes very much so. V.A.T. is 5% many small businesses use
the modular tax system where you pay a flat rate of tax around
80 pounds per month, regardless of how much money you make.
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Q. How much will I need to
invest to make a good living for me and my family?
A. The more you invest the more you will make, but with our
advice you should make a comfortable living with an investment
of 35,000 to 50,000 pounds.
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Q. What types of businesses
do you have for sale?
A. Most are tourist related so obviously bars and
restaurants, we also have at present, Photolabs, Property
Management Companies, Laundry, Car Hire, Garages, Supermarkets,
Hairdressers/Beauty Salons, Sports Club etc.
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Q. What about health care?A. As a resident you can join the Canarian Health Service
currently 143 pounds per month for a family. This covers all the
usual social security benefits including health. Alternatively
you can take out private health insurance.
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Q. Do I need a residents
work permit?
A. You will need a combined residents and work permit. This
normally presents no problem to E.C.C. member states.
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Q. Why do you recommend the
Canary Islands?
A. Because the weather is always Spring and Summer. There is
a 12 month tourist season, tourists increasing by 11% per annum.
Low taxation, good quality of life, safe family lifestyle, etc.
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Q. When I find a suitable
business what next?
A. You will need to pay a 10% deposit, sign the contract and
we together with your Gestore will check paperwork is legal and
up to date, obtain necessary work permits and residencias etc.
This usually takes 2/4 weeks then the balance is due and you are
free to start being in business in the sun.
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Q. What are the Schools
like?
A. Your child can be educated in the Spanish state system.
Children very quickly pick up a foreign language. Alternatively,
there are both English and Spanish private schools. These are
inexpensive compared to private schools in the U.K.
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