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Guide to buying property in Croatia

Buying a property in Croatia is quite a simple process as long as you get a good professional advice and representation. This is a brief overview of the processes involved when buying property in Croatia, you're lawyer will be happy to explain the process in more details.

There are two different ways under which you can become a property owner in Croatia. You may invest as an Individual, or alternatively, we will set up a Company on your behalf.

Individual Ownership:

To acquire a property in Croatia as an individual, you will need to obtain authorization from Croatian Ministry of Foreign Affairs. This procedure is rather a matter of formality, providing you have a clear or no history with Croatian authorities.

It may take over 6 months for completion of all paperwork, but you can complete the purchase meanwhile. Under current Croatian legislation, mortgage facility is not available for foreign nationals, if purchasing property as individuals.

Company Ownership:

There are numerous benefits, if you decide to purchase as a company owner. This again is a very straightforward procedure. The company can then purchase the property immediately, without having to obtain permission from the Ministry of Foreign Affairs. You can also benefit from VAT deductions or mortgage facility, which as a company owner in Croatia will be available to you.

Allow us to explain in simple terms all the necessary steps:

1. When we have found you find a property which suits your requirements we make a pre-contract between you as the buyer and the seller. In this pre-contact all the vital terms of purchase are already agreed & fixed:

• the parties involved
• description of the property with all its relevant details
• the checking of all legal documents concerning the property
• the agreed price of the property
• the exact date of making the binding contract at the lawyer's
• the purchase costs
• the date and conditions of giving the property to the buyer

2. At this stage a deposit of 10-15 % of the price is paid, If the buyer pulls out he losses the deposit. On the other hand, if seller pulls out, he has to repay the double sum of deposit to the buyer.

3. Usually 30 days from the pre-contact stage the lawyer makes the binding contract which is witnessed by a notary. The balance of the buying price is paid to the seller and the buyer takes over the property.

The lawyer proceeds with the formal transfer of legal title into your name. He applies for the approval to the Foreign Ministry department.***

After obtaining the approval, the new owner's name is entered into the Land register at the Court and the buying process is finished.

***While such an approval can take from 6 to 12 months it can easily be avoided if the property is bought by a domestic- Croatian company d.o.o.(same as LTD in U.K.) which can be entirely owned by a foreign person. The property is entered into the Land register without the approval of the foreign Minister department.

4. After getting the approval the real estate purchase tax is to be paid: 5% of the quoted value.

A Guide to the Purchase Costs

• 5% real estate purchase tax
• 2% lawyer's fee for legal servicies (not less then 1.400 Euro)
• 3,5% agency's fee (not less then 1.600 Euro)

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Allow in total 10.5% for all purchase costs.

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