Registered office: Calle Sorell 12, Bloque 3, Local 5, Altea (Pueblo Mascarat), Alicante, 03590, Spain
CIF: B01928928
Sole Director: Charan Nelms (British Citizen)
Up to date date accounts available, no outstanding debts.
Owner of two properties which are:
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- Sunset Waves, one apartment in , Bloque 2, Piso 4, Avenida Republica Argentina 6, Poniente, Benidorm, 03502, Alicante
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- Golf Albir, second apartment in Calle Pau Casal 16, Bloque 1. Piso 3., Albir, Alfas del Pi, 03581, Alicante
The property in Pau Casal has a Tourist License which will be retained by the new buyer if the company Baba Golinath Properties SLU is bought as a company with 3 shareholders, if bought as stated above there is no Spanish purchase tax to pay, only the notary’s and solicitor’s fees, the purchase tax which normally 24% for non-EU buyer and 19% for EU citizens.
For new buyer having 3 shareholders it is then possible to sell the shares to one of them piece meal, say the shareholding is 1%, 5% and 94% then the 94% shareholder first buys the 1% and pay tax on it and lastly to complete the house he buy the last 5% and pays a tax of 1% on the 5%. I would advise anyone to take professional tax advice to ensure this information is accurate and to their own satisfaction, good luck and be tax efficient!
The 94% sharehold may exercise a General Power fo Attorney over the other shares by agreement so everything takes place smoothly, job done! Just the same be advised first! One does not have to take the advise and just pay the 19 or 24%.
The company Baba Golinath Properties SLU is for sale for the asking price of €1,100,000.00 (one million and one hundred thousand Euros) without any encumbrance and includes the above mentioned two properties, including all fixtures and fittings.
Currently the Pau Casal apartment is rented out on a monthly basis for €1500.00 per month but on short term rental during the peak season it can well demand €2500.00 per month. Sunset Waves was rented out at €2750.00 per month on a long term but can demand a higher rental if desired.
Company accounts are carried out by a Spanish company named Exactly Accountancy SL, Altea and their professional fees are €186.00 per month, I send each months bill to them and they do the rest and they file the account and do a V.A.T. every 3 months and one Tax return at the end of every 12 months.