When we buy a Traspaso what are we actually buying?

A Traspaso or Lease, is usually for 5 years, although 3 and 10 years are quite common. As with any business it is hoped that a future profit will be achieved when the time comes for you to sell the Traspaso on.

Why do we need to pay Landlords Rent?

Buying a Traspaso does not buy you the freehold of the property, which will still belong to the Landlord. He will charge a monthly rent usually between €600 and €3000s, depending on the premises but has no involvement with the running of the business.

What do Landlords Contracts Contain?

In this contract the rules of the rental will be laid down by the Landlord and should be in both Spanish and English and signed by both parties.

What is a Gestoria?  

A Gestoria has a similar role as that of an Accountant in the UK, but also has knowledge of matters legal relating to running a business in Spain. For a monthly retainer he will prepare Tax and Social paperwork and will apply for all Licenses to enable the business to comply with all necessary legislations.

How long does the purchase usually take?

This depends on the searches that are necessary to ensure the legal process but usually all checks can be completed within 6-8 weeks.