Do you want to own property in Croatia? Well if you are planning to, this article will be very resourceful for you. Before we sink deep into the reasons why you should grab such an opportunity of owning property, it is important to understand some basic facts about ownership of property in Croatia.
Firstly, Croatian law permits property ownership for foreign enterprises and foreign citizens after they have been Granted consent from the ministry of justice. If you are a foreign citizen you will be granted permission only if there is a reciprocity agreement between the state you are coming from and Croatia.
Additionally there are two methods of owning property in Croatia; Company purchase and private purchase. In both cases, buyers will be required to pay 5% RET tax on top of the initial buying price.
Why do you think you need to invest in property here in Croatia before anyone else?
The benefit of doing business in EU country
Croatia is the new member of the European Union hence it has access to business opportunities in the EU community. You will be allowed to import and export goods within the EU without any restrictions which allows you to open up for a greater market with minimal effort.
Additionally, as the newest member in the EU, Croatia has access to up to 1€ billion to promote entrepreneurship which implies if you invest here you will also benefit from such grants.
The workforce is Affordable, talented and multilingual
English is a widely spoken language and it is interesting to note that in Croatia 49% of the population speaks English which is far much better than countries like India.
Additionally other languages are also represented well, 34 % goes to German and 14% Italian.
Besides, its workforce is very innovative because products that are celebrated in the market today traces its origin from Croatia i. e world fastest electric car.
It has modern Infrastructure
A country with stable infrastructure is good for business. This makes Croatia ideal for acquiring property because it has well developed transport systems which improves accessibility. Currently, it is investing heavily on seaports which opens up the interior to the external world.
There are few barriers to foreign investors
If you are a foreign investor you are not excluded from owning property here in Croatia. You are allowed to hold 100% shares in a Croatian company which makes it a unique country to invest on property. There is no obligatory declaration unless acquisition of public joint stock companies.
It offers appealing Tax incentives
Before you choose to invest in property ownership in any country you need to consider its tax. Croatian tax incentives are appealing with up to 0% profit tax for ten years, it has no customs since it is an EU member, no double taxation because of the agreement binding 55 countries and you can earn up to €9000 cash incentive for each new job created.
Generally, Croatia is in the spotlight of becoming an attractive business destination. It is not too late to get started, this is a perfect place to invest your money and you will never regret it.