Investing In Spain And Portugal

Many people invest in Spain not simply to retire or acquire a holiday home but to actively engage in business. The most common investments, not surprisingly, revolve around supplying services to other expatriates or holidaymakers. The favoured businesses include setting-up and running small guesthouses or hotels, apartment and villa rentals, property management plus a whole panacea of services aimed at the expatriate market including building, plumbing, translation etc. As in any country, it is vital that considerable thought is given not only to what business services can be provided but how investments should be made - As has already been inferred in respect to purchasing a Spanish property, the main window of opportunity to correctly structure ones affairs exists before becoming fiscally resident in Spain. On a general level, it cannot be stressed too much that the Spanish way of going things is often very different to the British or Irish norms and that such differences should be identified BEFORE investing. It is also a very good idea to ensure that you have sufficient savings to cover yourself for at least the first 6 months of your business venture. Further, as in the UK it is highly advisable to try and separate business from personal assets ideally by using a limited liability company or branch. However, what cannot be over stressed enough is that thorough research should be carried out before proceeding with any business investment - In far too many cases the 'dream' of living in a sunny climate seems to mitigate all logic, DO NOT LET THIS HAPPEN TO YOU!