"With Hvar Estates, our guidance, advice and expert team of industry professionals will ensure your investment is a simple and straightforward process..."

Which Method to Buy Property Hvar?

Once you have found a suitable property, we will forward your offer to the seller. At this point you will need to be clear about which method of purchase you are going to adopt. Hvar Estates legal team can advise you on the most appropriate route to meet your objectives.

Private Individual

If you wish to purchase the Hvar 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 but can take around 6 - 12 months.

It is possible to complete the purchase while awaiting permission, as it is purely a document formality, which, unless you have an adverse history in Croatia, will not be refused. It is possible to move into and use your Hvar property whilst awaiting permission. However there are certain additional appendixes to the main purchase contract that must be approved by the seller. In most cases this is a power of attorney that gives you the necessary powers to connect the utilities and where necessary apply for planning permissions. This is a fairly standard procedure in Hvar Croatia and if required should be negotiated before completion of the main purchase contract.

If you intend to sell your property within 3 years of purchase as a private individual any profit will be subject to Capital Gains Tax at 35%. Furthermore, under Croatian law a mortgage facility is unavailable to foreign nationals purchasing as private individuals.

Hvar Church An old church in Jelsa




A silhouette of a statue in Hvar town A silhouette of a statue in Hvar town

 

 

A typical dalmatian old stone house A typical dalmatian stone house

 

Croatian Real Estate Company

This method is the fastest and in our opinion the most effective route. It also benefits from a mortgage facility should you require it. A Hvar Estates lawyer will form a limited liability Croatian real estate company on your behalf. You will nominate the shareholders (i.e. Yourself). This Croatian real estate company can then purchase the Hvar property immediately without any permission requirements. It is a relatively inexpensive procedure that can be concluded within a matter of weeks.

If you aim to sell your Hvar property within in 3 years, you will not pay Capital Gains Tax if a company owns the property. Instead you pay company (profit) tax at a reduced rate of 20%. There are also provisions within Croatian tax law to account for amounts invested in real estate, as well as depreciation of buildings. Our tax adviser can advise you depending on your circumstances and objectives.

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