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From the standpoint of business. Apartment houses, restaurants, wineries, farms ... View business overseas is real!

Hotel in the Czech Republic, a restaurant in France or winery in Italy? Our pragmatic compatriots consider any opportunity not only for vacations abroad, but also for income. On what options are worth paying attention to, and what business strategy to choose?

Many Russian agency today is not limited to the sale of vacation homes or under a lease - offering restaurants, hotels, agro-tourist farms and other variants of the operating business.

Motives for overt and covert
In most countries the door to ensure foreigners are wide open. "As a general rule, the state actively encourages foreign investment in the economy, and restrictions for the purchase or organization of small and medium-sized businesses are minimal - notes Cyril Vikulov, Attorney Baker & McKenzie, ECI, CIS, Limited. - First and foremost it is typical for the developed European countries and the United States. "
Why buy or build a business abroad? Besides the obvious main goal - to generate income - many rely on others. "In my experience, most business is acquired for the creation of a" reserve airfield ", - said the company owner Sander Estates AG Sergei Sander. - Investments - it is rather a kind of beautiful "wrapper". Variations can be as much as you want - and getting moving permit and citizenship, preparation for retirement, the dream of "candle factory and a long and happy life in another country, business for kids, etc. But the real desire - to" reserve airfield ".

Easy money or hard work?
The most simple, understandable, and therefore demand options real estate business, according to the agency - apartments in tenement houses or apart-hotels or guest houses at numbers 10-15.
"In the Czech Republic and Germany trendy topic for investment - apartment buildings - says CEO Vessan Reality Anna Zadvil. - In terms of profit is very stable segment. Bought a house at 10, 15 or 20 apartments, conducted redecoration, you can also build on the attic or make alterations to the apartment and rent for rent. Investment amount starts from 1 million euros plus repairs. Profit is 800-1000 euros per month with each object, or 96 000-120 000 euros with a 10-apartment house in a year. Alternatively, you can not buy a house entirely, and only one apartment per year. "
With regard to hotels, most in demand mini-hotels in Europe: the Czech Republic, Montenegro, Croatia, Spain, Italy and Greece. Their cost starts from 1,5-2 million euros, an average of 10.5 million euros. Over 10 million euros or more can purchase a full hotel, even owned one of the known world networks. Profitability depends heavily on the country, location and management. "For example, - says Director of CMM Investment Consulting Group Milan Milenkovic - Montenegro core business - travel, so hotels - it is always liquid investments: gains on Montenegrin hotels up to 10%. Even in a difficult 2009 profit up 7%. However, the relatively high profits implyuschestvennye costs, especially time and energy. "Most of our investors would like to receive a steady income and are not always willing to work hard for 12-14 hours to their restaurant or hotel makes a profit," - observes Sergei Sander. You can make your life easier by inviting professional management or management company.

It is worth mentioning that buy a really productive and revenue-generating hotel is not so simple - they sell very rare. For management reporting, which provides the seller, must always be treated critically. In Eastern Europe, it happens that the owner shows allegedly understated for tax services indicators, but in reality they are quite real.
Also very active now interested in the acquisition of farms, vineyards and restaurants. There are quite exotic options business, such as a small power plant in the Czech Republic. Anna Zadvil explains: "Buy land, installing solar panels on it, sign a contract with the Czech power company for 25 years - and you can sell electricity. The project pays for itself in about eight years. "

Experts offer various ways to purchase a business. "One could consider as a direct purchase of assets, such as apartments, houses a restaurant and related equipment and furniture, and stock purchase organization - the owner of the assets - tells Cyril Vikulov. - In the second case preserves the integrity of business, there is no need to renegotiate contracts with employees and contractors, to obtain the necessary licenses or certificates. But keep in mind that, together with the shares to a new owner goes not only all the property, but also all the debts of the company, the counterparty, payable to government bodies. Foreigners are generally much more difficult to obtain reliable information about the acquired company. Therefore, when planning the purchase of a business or asset essential to its due diligence. "
In any state you may have difficulty in obtaining permits or licenses because of bureaucratic delays, but a single list of "pitfalls" no. Much depends on national traditions. Tatyana Vasilyeva says: "The German said" tomorrow "- it means tomorrow. And for the Italians, Spaniards, "tomorrow" means a week or two at best. In Germany, the Czech Republic, the process of acquiring business and real estate under his well-regulated and extremely clear. Everything is solved in one window. Bulgaria - the same disorder as in Russia. Often, they asked the options business in Finland, the Netherlands, but to adapt to these countries, otzys many, is difficult. Therefore, to base a business plan to add additional force majeure costs. "
According to Mr Sander, difficulties arise with the valuation of the business: the state of the equipment more attractive to the client's reputation. Rate this property much easier.

State - how many do not feel sorry
Taxes - one of the main criteria in selecting countries for business. "In planning the investment necessary to consider the corporate income tax, indirect taxes, taxes on profit distribution, the possibility of deductions or special tax status, the tax authorities - Cyril warns Vikulov. - U.S. and Western European countries are traditionally vysokonalogovymi jurisdictions. Corporate income tax here ranges from 20 to 35% on real estate - up to 5-7% of the value of the object. " Therefore, a lot of attention here should be given tax optimization.
Much more benign mode offers Eastern Europe and Cyprus: in particular, in Montenegro, corporate profit tax - 9% in Bulgaria and Cyprus - 10%.
In advance, as noted by Cyril Vikulov, you need to determine ways to make a profit - whether it is dividends, interest on loans granted or the proceeds from the sale of shares or property - as well as associated costs. "Choosing an effective way of investing, such as through a special holding or finance company can significantly reduce the tax burden - the expert emphasizes. - It's important to choose the right approach from the outset, because the change of structure in the future may require significant expenditure. "
Experts advise to determine the proportion of own participation in the case. Investment in apartment houses or apartment hotels are much easier to manage, and rate of return (although not as high) is clearly defined and written into the contract. Making your business in full ownership and management of the hotel, shops, malls, wineries will require significant time and manpower - and profits can be several times higher.

Homesoverseas Anna MIRONOVA


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