Are you planning to buy property in Croatia? The paperwork and other formalities are not that easy, and you need to follow a particular process to get things done in a streamlined manner. Taxes are to be paid, multiple papers have to be signed, verification processes are being carried out, and more things are done when you are buying a property.
To help you, we have made it easier for you to invest in real estate in Croatia with a quick guide. The process has been listed down so that you do not face any difficulties in buying your dream property.
If you are a foreign buyer, you have two options with you while making the purchases:-
If you are buying it as an individual, you must take permission from the Ministry of Corporate Affairs to do so. This is the simpler option that you can go for. However, getting approval might take up to 1 year.
The second option is a bit more complicated. You can even register a company and purchase houses in the name of the company. The process is faster here because you do not have to take any permission from the Ministry of Corporate Affairs, but the taxes, fees that you must pay are higher in this case.
Here are the steps that you need to follow while buying a property:-
You must sign a reservation contract. This will ensure that your chosen Croatia property is reserved for you and will not be allotted to anyone else while you are completing other formalities.
Signing a preliminary contract is the next step, which ensures that the foreigner is entitled to buy the property. This contract also has a clause that states a deposit of 10% of the total cost has to be made while signing the contract.
There are multiple intermediate steps where you have to pay fees to various concerned authorities. These include transfer taxes, notary fees, stamp duty, registry fees, and more that must be paid before you sign the final contract.
Once all this gets completed, you can sign the official and contract, which will state that the property is officially yours and is registered with the local registry in your name.
Prices
While buying any property, the rates or prices are extremely important and the deciding factor for purchase in most of the cases. You might find these prices expensive as the real estate industry is growing, and the purchasing power of the buyers is increasing. The prices will also depend on the location of the property. For example, if you are buying it in the coastal area or in an area where public transport facilities are easily available, the prices will be high. And, if you are buying prices in a remote area, the prices will be low as the aim of the low prices is to promote real estate in that area as well. You must consider the prices in detail before making your final decision.
