Possible move to Spain
Dec 7th 2018, 11:31 pm
#16
Joined: May 2006
Location: Galicia
Posts: 3,140
Re: Possible move to Spain
You have to choose which sort of company would suit the way you want to run your business.
Taxes are required to be paid every quarter. Together with the rather large amount of social security each month could sink you quicker than you can say Titanic. I strongly suggest you find a decent Gestoría to take care of your accounts and business affairs. Yes they cost money – but they will save you a fortune by ensuring that everything is as it should be. Tax laws in Spain are very different to what you are used to in the home land.
If you want to do something different you can easily alienate those that would be everyday customers. Different is a risky way to start a business.
Note that pulling a few pints down at your local on a Saturday night will not give you any experience to running a bar in Spain. Think about all the behind the bar issues that go hand in hand with running, you know, Juggling the finances (see above) Speaking Spanish to your suppliers, evening classes will not help you there. Working from 7am until 4am every day of the week with no break and perhaps no sea side fun you may feel you will be able to grab. You will not be siting outside on the terrace with those young ones working their socks off for you raking in the Euros. There is no less stress only different stress.
When you buy a business you can look at the books and figures of the business and see if it is profitable (or not). However what will that prove? If you want to do something different then the income will never be the same. Do not change the business the impervious income will never prove to you that you can make a go of the business .
bars will need licences, noise, maybe to allow a terrace, if you sell food you need one for handling food.
In addition to that you need to know which food/hygiene regulations you have to abide by.
Reading your postings it comes across that at the present you do not have any business plans. No firmed up location and no idea of what is going to make you that bit different. even financially you are saying you are hoping the selling of UK assist will be OK.
I am sure that someone can enlighten you how you will pay the taxes due on the selling of your UK business and renting out the UK house whilst living in Spain. Better still find a
Gestoría.
Taxes are required to be paid every quarter. Together with the rather large amount of social security each month could sink you quicker than you can say Titanic. I strongly suggest you find a decent Gestoría to take care of your accounts and business affairs. Yes they cost money – but they will save you a fortune by ensuring that everything is as it should be. Tax laws in Spain are very different to what you are used to in the home land.
If you want to do something different you can easily alienate those that would be everyday customers. Different is a risky way to start a business.
Note that pulling a few pints down at your local on a Saturday night will not give you any experience to running a bar in Spain. Think about all the behind the bar issues that go hand in hand with running, you know, Juggling the finances (see above) Speaking Spanish to your suppliers, evening classes will not help you there. Working from 7am until 4am every day of the week with no break and perhaps no sea side fun you may feel you will be able to grab. You will not be siting outside on the terrace with those young ones working their socks off for you raking in the Euros. There is no less stress only different stress.
When you buy a business you can look at the books and figures of the business and see if it is profitable (or not). However what will that prove? If you want to do something different then the income will never be the same. Do not change the business the impervious income will never prove to you that you can make a go of the business .
bars will need licences, noise, maybe to allow a terrace, if you sell food you need one for handling food.
In addition to that you need to know which food/hygiene regulations you have to abide by.
Reading your postings it comes across that at the present you do not have any business plans. No firmed up location and no idea of what is going to make you that bit different. even financially you are saying you are hoping the selling of UK assist will be OK.
I am sure that someone can enlighten you how you will pay the taxes due on the selling of your UK business and renting out the UK house whilst living in Spain. Better still find a
Gestoría.
Dec 8th 2018, 7:08 am
#17
Just Joined
Joined: Jul 2018
Posts: 24
Re: Possible move to Spain
The Bar! It should be a tv series. You will get lots of advice about it. Most will suggest no due to the fact that everyone knows someone who has tried and failed. Having said that some manage so it can't always end in disaster. First I would say if you don't speak Spanish ( and you won't be good enough after classes for a year) you are at a disadvantage. Most successful bars have one partner who has Spanish. Secondly decide how much you can afford to lose. Then , if you can accept the worst , go for it. Oh Yes and be prepared to work everyday of the summer from morning to night. Good luck
Look up on 4OD - A New Life in the Sun - there have been at least three couples who have tried to this in this programme. Two successful and one not (from memory)
And also on 4OD - Gordons Kitchen Nightmares - I think had one.. including the drunk ex pat customer who insisted on serving food and being a waiter
EDIT - beaten to it by @TheBevs
Last edited by uk03878; Dec 8th 2018 at 7:12 am.
Dec 13th 2018, 1:04 pm
#18
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,142
Re: Possible move to Spain
Dec 23rd 2018, 4:21 pm
#19
Just Joined
Joined: Dec 2018
Posts: 12
Re: Possible move to Spain
Why open a bar?
It would only work if it were right in the centre of seaside town like Benalmadena.
English expats in Spain who spend a lot of time in bars tend not to be the most pleasant group of people.
They often tend to be racist and quite right wing and spend their whole time moaning about everything.
I wouldn't want to spend much time with a lot of half drunk Brits.
If you don't know Spanish and how to look after yourself in Spain then you would effectively have the naivety of a 6 year old when doing the initial deal.
The sharks would sniff out that naivety and rub their fins together in eager expectation.
Your fellow expats should not necessarily be trusted just because they speak your language.
How long would it take to lose all your investment?
Not long I would wager.
Even if it went well it would only because you were working 18 hours a day.
On the other hand you could just come to Spain and enjoy life.
The cost of living in a small village is so cheap that you hardly need any money.
Some people I know bought a five bedroom townhouse in Lanjaron for 35 000 then spent 10 000 on making it really nice.
Then living expenses are very low.
You could probably rent an apartment in a small village for 300 euros a month.
Another thing you could do it to volunteer with lots of different people who are running small businesses in Spain.
B and Bs small hotels, yoga retreats etc.
If you are able to observe lots of other people running small businesses it would help you decide what you would like to do yourself in a more informed way.
You can do this if you go to
https://www.workaway.info
You can volunteer in loads of different places.
It would only work if it were right in the centre of seaside town like Benalmadena.
English expats in Spain who spend a lot of time in bars tend not to be the most pleasant group of people.
They often tend to be racist and quite right wing and spend their whole time moaning about everything.
I wouldn't want to spend much time with a lot of half drunk Brits.
If you don't know Spanish and how to look after yourself in Spain then you would effectively have the naivety of a 6 year old when doing the initial deal.
The sharks would sniff out that naivety and rub their fins together in eager expectation.
Your fellow expats should not necessarily be trusted just because they speak your language.
How long would it take to lose all your investment?
Not long I would wager.
Even if it went well it would only because you were working 18 hours a day.
On the other hand you could just come to Spain and enjoy life.
The cost of living in a small village is so cheap that you hardly need any money.
Some people I know bought a five bedroom townhouse in Lanjaron for 35 000 then spent 10 000 on making it really nice.
Then living expenses are very low.
You could probably rent an apartment in a small village for 300 euros a month.
Another thing you could do it to volunteer with lots of different people who are running small businesses in Spain.
B and Bs small hotels, yoga retreats etc.
If you are able to observe lots of other people running small businesses it would help you decide what you would like to do yourself in a more informed way.
You can do this if you go to
https://www.workaway.info
You can volunteer in loads of different places.
Last edited by almendro; Dec 23rd 2018 at 4:24 pm.
