darrell1966

I am considering buying a business in one of the two mentioned islands and I just wondered if anyone could add to my pros and cons list.

Majorca appears to be much prettier and larger, which helps eliminate island fever.


Fuetaventura looks desert like but has all year round custom, and no cold windy winter. Accommodation appears to be much cheaper here too.

I am, diabetic but take very cheap tablets to keep it under control, so may need medical treatment at some time in the future.

Am I still entitled to free medical on Fuertaventura? Is Fuertaventura still not classed as being in the EU? Is it still tax free?

Thanks in advance, neither business is a bar or a cafe.

steviedeluxe

Hi. You will have to check with the local laws (which differ according to region in Spain) but it is my understanding that so long as you are paying the autonomo fee, you are entitled to join the state healthcare system, and indeed so are your family. The autonomo fee also pays into the pension scheme. Be warned though, it starts at about 260 Euros a month, which many believe is expensive.

http://www.advoco.es/advice/26-auton...-security.html

if I were you I'd also calculate how many flights back to the UK you'd need each year, and work out what you'd do if local flights to the UK were withdrawn (unlikely with Mallorca)

darrell1966

I love that link, thank you.

I would not be going back to the UK very often, and do intend to live in Spain for a long time so the link is very good for me to know

amideislas

I can't speak about Fuertaventura, but I've lived in Mallorca (and run businesses) for quite some time and we really like it, despite the somewhat arcane regulations here, many of which are for a good purpose, but many are simply for no purpose whatsoever.

As an autonomo, it's pretty cheap, but like the rest of Spain, as soon as you have offices and staff, business can become rather expensive and challenging. There are successful businesses, however, mainly in tourism, real estate, and to a certain extent, IT.

Living costs depend entirely on where you live. It is a big island and if you choose to live in the more expensive areas, it's pricey, but if you needn't have daily access to Palma, for example, you can live very well, for a lot less than what you'd pay in the more popular areas.

It might be wise to take a trip down here and get some first-hand experience. Flights are cheap from the UK.

Feel free to PM me if you have any specific questions, I'm happy to help.

-Ami

darrell1966

Thanks for the reply, the business is in Alcudia, it is tourist reliant and has been established for eleven years and does turn a profit.

amideislas

You have a very good start, then. The Alcudia area is among the nicest, yet less expensive areas to reside. A bit of a secret, really. Most everyone seems to believe they need to live in the southwest, which can be more expensive than London.

darrell1966

How does it do for tourists?

amideislas

Alcudia and surrounding areas are really the "family" tourist meccas. Huge, beautiful beaches (Playa de Muro is arguably the best and highest rated beach on the island - the beaches along the north are all rather expansive), Alcudia is the island's 2nd largest port, plenty of activities for kids, modern accomodations, "sane" nightlife, direct motorway access and centrally located, scenery is good, not far from the mountains, a rather impressive wildlife reserve area, not the cheapest, but far from the most expensive.

I believe Alcudia and the north in general is likely to be the next big growth area. Good start, definitely.

JLFS

Having to make a decision of buying a business,between the 2 places FV or Mallorca, I would look at the business side first.

Obviously you have looked into both of them,and I would tend to go with the business which would be the better bet for making a good profit and give a good standard of living.

Look at the most important item first, chase the money dont forget beautiful views/ landscape or nice all year round weather wont put food in your belly or pay the bills.

darrell1966

I see your point, but if I had to live in a hole for 5 years to earn £100,000 a year or a beauty spot to earn £30,000 a year I would choose the beauty spot. I am not saying that either place is a hole. It all boils down to quality of life I suppose.

The businesses are also two different kettles of fish, one makes more than the other but is also four times the price to buy.

One trades all year round whilst one knowingly makes a profit in six months. Both are lifestyle businesses that I would enjoy doing.

JLFS

Nobody is suggesting that you live in a hole for 5 years, certainly not me, so I dont know where that came from, and as you have narrowed it down to 2 places, I did not think you would consider either of them a hole that you did not want to live in

and dont forget you did ask for pros and cons, so I gave my opinion. Also I would suppose that you dont mind living in either one, so your reply to my suggestion is a bit over the top as far as I am concerned.

darrell1966

Well sorry, but that just makes you a little touchy.

I gave a hypothetical example to highlight the value I give to quality of life, you chose to take it literally. I even wrote that I was not suggesting either place was a hole.

JLFS

Maybe you should stick with your first choice, New Zealand. If that is where your heart is.

darrell1966

Both choices are actually part of Spain.

JLFS

That is good news.