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Post by marija on Dec 5, 2005 18:12:43 GMT 1
Sorry to ask a question that I'm sure has been discussed already, but I am new at this. I and three or four very interested partners are still confused about this first step: 1) I assume it is a Croatian, not U.S. LLC that we are to set up. If so, where do we begin? What are the steps? 2) Another very important question is whether something like the multiple-listing service we have in the U.S. exists in Croatia. If not, does that mean that I must look all over the web and then, when I am ready to take a trip, set up a number of appointments with different agents?
I have been waiting to have my login approved by the webmaster for about a week. I wonder if it has gotten stuck.
Fantastic website! Thank you!
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Post by Peter Ellis on Dec 5, 2005 21:13:05 GMT 1
Hi Marija Sorry you had a delay on getting your login approved. It should be automatic. If you are wanting a limited liability company to buy with it would need to be a Croatian one, known here as a d.o.o. Our legal department can set one up for you. You can see all the costs at www.croatiapropertyservices.com/include/www/eng/fee%20scale.docThere is no multilisting service here that I know of. The nearest that I can think of is www.realestatecroatia.com/eng/default.aspThis is a website that most of the Croatian estate agencies advertise on. You need to contact the agencies individually if you want to set up viewings. We can certainly help you if you are interested in Istra, where we have a large portfolio directly from the vendors. www.croatiapropertyservices.comWe can also help you to organise a hotel in our area.
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Post by marija on Dec 28, 2005 18:29:13 GMT 1
Peter, Please help - I am still not registered. I still keep getting that message that my account is awaiting approval, and it has been a month! Now, a new question: isnt there a double taxation treaty between Croatia and the U.S. which means that I dont have my income taxed in both places? Thinking about my (hopefully soon to be approved) Croatian citizenship last night, it occured to me, uh-oh, if I get that, wil both countries tax me?! But then I recalled my research into double taxation. I'm ready to head over to Dubrovnik and Hvar Jan 11-17 and am still stumped, after all these months of research, whether it is better to go the MFA route or set up the d.o.o., if you take into account do I rent it or not, all of the expenses involved, taxation, etc. I know that it must in the end be my subjective decision but is there any general consensus out there? Thanks! Marija
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Post by Peter Ellis on Dec 28, 2005 19:30:04 GMT 1
Hi Marija I think it should work OK now. I don't know whether there is a double taxation with the US. If there is, my understanding of a double taxation treaty is that if you pay tax in one country on something, you don't have to pay it in the other for the same thing. I'm not a tax advisor though and you should talk to a qualified professional. If you are renting, it needs to be through a company, although it could be that of a rental agency, not necessarily your own company. Having your own company will entail certain expenditure and you will need to emply someone to make regular returns. You need to consider how this will relate to the overall income to decide whether this is worthwhile. HTH
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Post by marija on Dec 30, 2005 0:01:31 GMT 1
Hello again Peter, May I ask you this: as a foreigner, then, does the Croatian govt tax my income?
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Post by Peter Ellis on Dec 30, 2005 9:00:17 GMT 1
Hi Marija They would tax the income on renting out property in Croatia. Whether they would tax any other income that you have I do not know. I don't think, for example, that they tax pensions coming from abroad. There is a link on our main website www.croatiapropertyservices.com to KPMG, who may be able to provide more specific information.
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Post by marija on Mar 7, 2006 5:37:51 GMT 1
Peter, I have found a property that I would like to purchase and would like to go through with the establishment of the d.o.o. asap. I dont have a clear idea, though, what your costs are: 1500 euros, but typically what do the extra costs amount to?
Once the company is established, I can go ahead with the purchase "as if" the company and I are the same entity?
And once it is established, if I have no income, do I have to submit yearly tax forms or some other form of accounting?
Thank you.
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Post by Peter Ellis on Mar 8, 2006 18:09:41 GMT 1
Hi Marija
I'll pass your queries to Ksenija, our in-house Croatian property lawyer, for her to respond to. In the meantime, to give you a general idea, extras are things like court fees, translation, gazetting, etc. You would then buy the property in the name of the company. You will need to employ a bookkeeper to make regular returns to the tax authorities. They will expect to see some form of trading, even if it is only the occasional letting, as we don't have dormant companies here.
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