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    Tenerife Business » Useful Information » Buying a Business - Starting Guidelines
Updated: 24-10-2009

Buyer's Starting Guidelines

The majority of small Tenerife businesses for sale belong to the catering and entertainment industries aimed at the foreign tourist market. There are a wide range of establishments such as bars, cafes, restaurants, pubs, night clubs and discos which have been tested and proven successful in such a popular holiday destination as Tenerife. Also in demand are services around property sales, business sales, property rentals and property management, as well as professional services and specialized craftsmen. Many Tenerife businesses are successfully operated by non-Spanish residents, which makes Tenerife such a cosmopolitan place with a unique mixture of cultures and nationalities. These maybe, along with the beautiful climate, are the key attractions for the millions of returning tourists, as well as the new residents coming here to build their new life by either buying an existing Tenerife business or starting a new venture from scratch.


As in every country, the process of property/business purchase or starting a new company will have its specific local regulations.  Tenerife, being the largest of the Canary Islands, belongs to the territory of Spain and consequently is part of the European Union, abiding by its legal and administrative regulations. Additionally the Canary Islands offer various tax savings and tax deferral opportunities, which might be interesting for potential investors in Tenerife businesses. To make your new business experience a success from the beginning it is highly recommendable to use the services of local professionals and experts specializing in the relevant fields. They will be able to protect your best interests and provide you with valuable advice. Whether you are looking to buy an existing Tenerife business or start a new venture you will reach your goal faster and will have piece of mind if you use the services of the following professionals:

  • A Tenerife business sales agent, who has access to a wide selection of Tenerife businesses for sale and, based on your requirements, will find the best match to suit your short-term and long-term business targets. Knowing local specifics your agent will be the one guiding you through the necessary steps of a business sale transaction and will be able to introduce you to other local professionals required for a successful completion of a business purchase and for setting up your new business in Tenerife. Your Tenerife business sales agent will most likely be your first point of contact, even before you come to Tenerife, and will continue acting as your key counterpart during the complete business purchase and sometimes even business start-up process. Therefore it is important that you feel secure with your choice - make sure that your selected Tenerife business agent understands your requirements and is able to provide you with the expected level of service and customer focus.   
  • A Tenerife Lawyer, who is a fully qualified professional able to advice you and prepare legal contracts, acting on your behalf and in your best interests. Lawyers, covered by comprehensive professional indemnity insurance often act as stakeholders in property and business sale transactions. We strongly recommend using the services of a local lawyer who is familiar with Tenerife business specifics and legal formalities. Based on years of experience and local legal practice a lawyer will be able to advice you on various scenarios and protect you from undesirable consequences
  • A Tenerife Gestor, who is a qualified professional in the field of administration, taxation, labour and accounting matters related to your business in Tenerife. A gestor is an expert in Spanish bureaucracy, and is able to efficiently set up your Tenerife business paperwork, trading permits and licenses as well as maintain your Tenerife business accounting and tax returns. By outsourcing the management of above matters to your Tenerife gestor you will save yourself lots of precious time and will avoid potential difficulties of dealing with Spanish bureaucracy. Acting as your tax advisor and accountant a good gestor is invaluable at all stages of your Tenerife business development, so allow some time to research the market, get referrals and make the choice for a gestor you feel confident about.

 We at FRINA Tenerife provide professional and customer-oriented service as your business sales agent. By focusing on your personal requirements we will be able to find the best Tenerife business match for you. We will accompany you throughout the complete business purchase process, introduce you, if requested, to the local professionals and support you if required even during the start-up phase of your new Tenerife business. 
 


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