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Buying Overseas. Croatia

There are two methods for the private investor to purchase property in Croatia:

Individual Ownership

Beautiful coastline and fishing boats

If you wish to purchase the property privately as a foreign national you will need to obtain authorisation to do so from the Ministry of Foreign Affairs. This is a straightforward procedure though one which can take a period of up to 6 months. It is possible to complete the purchase while awaiting permission; it is purely a document formality which, unless you have an adverse history in Croatia, will not be refused. Under Croatian law a mortgage facility is unavailable to foreign nationals purchasing as private individuals. Furthermore, the rentals of this property will be allowed only in case you have declared residence in Croatia and are in the possession of working permit.

Company Ownership

This method is the fastest route and also benefits from a mortgage facility should you require it. Your lawyer will form a limited liability Croatian company on your behalf. You will nominate the shareholders (i.e. Yourself). This Croatian company can then purchase the property immediately without any permission requirements. The company ownership route should be used in the case you plan to rent the property you are purchasing.

Couple being introduced to their new Croatian property by their agent

In Croatia both the Vendor and Purchaser pay a commission to the selling agent, this is usually between 3% - 6% from each. Bluca Properties Limited have a fixed price policy of 4.88% (inc VAT) commission charge to the purchaser. This figure is added to the purchase price and only payable when the sale completes.

With the reservation document in hand your lawyer will draw up the contracts relating to the sale. He/she will ensure that ownership title is clear and that the vendor has paid any taxes due. There is a 5% buying tax and lawyers fees of approximately 2% to be paid.

Once the contract is ready for completion you will need to ensure that sufficient funds are available in Croatia. The lawyer will handle the transaction and on completion, your dream home will be awaiting you.