Questions & Answers

 

As an EU citizen, may I buy a buy-to-let suite or apartment?

Yes, this is possible for both private individuals and companies. There are tax aspects to consider in each case.

What exactly is being purchased?

A parified condominium. The public areas remain in the sole ownership of the resort operator.

Can I register a primary or secondary residence?

No. The hotel suites and apartments are "commercial properties", which means that they are exclusively for tourist use.

What is the exact zoning designation of the apartments?

Building land recreation area.

Is the purchase price invoiced with or without sales tax?

The purchase price is invoiced plus value-added tax (VAT), which can be reclaimed due to the commercial property character if the tax requirements are met.

To whom will the leaseback be made?

 The leaseback is to the operating company. The term of the contract is for an indefinite period.

What are the incidental costs of purchase?

Land transfer tax, registration fee in the land register and contract preparation costs.