FAQ

Boora Brokerage & Developments is a unique buy-side-oriented real estate platform. It was created to help prospective buyers find that perfect piece of real estate they have been searching for. We follow and advise you throughout the selection and investment process. In addition, as trusted advisors to our clients, we help navigate the often-arduous process of purchasing real estate. In addition to that, we provide legal coordination and financial planning services, assist you with sourcing the best architects and/or contractors. This has proven to be instrumental in helping customers succeed in sourcing the perfect piece of real estate.

Boora Brokerage & Developments is the only buy-side-oriented platform for all your real estate needs in Croatia. We will help you create a journey tailored to your unique needs and preferences. Our experienced specialists and agents will help you find the right property, provide you with all the necessary information, and organize a visit. Once you've made your final decision, we'll help you finalize that purchase. We will make sure everything is in order, coordinate paperwork with reputable law firms, and support you till you have keys in your hands.

We will organize visits to your selected properties as well as help you organize your stay in Croatia.

Through our trusted network of partner brokerages located across Croatia, we have managed to gain real estate insight into every part of the country. Working together with them while representing your best interest as buyers, we will ensure that your dream home in Croatia is found.

We have outlined all of the relevant steps when purchasing real estate in Croatia in our "Boora Research" guide. You can find it here.

To open a bank account or set up a company in Croatia, one must have an OIB number. An OIB is a personal identification number that anyone entering the Croatian regulatory system must obtain from the local Tax Authorities.

There are three citizenship dependant categories a prospective buyer could fall into. As a citizen of the European Union ("EU"), real estate can be acquired in the same manner as citizens of Croatia. If you are a non-EU citizen, rules may vary depending on your country of origin. Citizens from countries that have signed a Reciprocity Agreement with Croatia could buy property in Croatia if they have obtained permission from the Ministry of Justice. Citizens from countries that did not sign a Reciprocity Agreement with Croatia cannot buy property as private individuals. They can purchase real estate by creating an SPV established for such a purpose. Boora brokerage and developments have the expertise and knowledge to assist you in all of the scenarios mentioned above.

The Notary Public ensures, as far as is humanly possible, that legal documents are properly constituted, that anyone participating in a legal transaction is officially identified, and that the documentation is held in the archive for future reference if necessary. All major financial and bureaucratic transactions in Croatia are likely to require the input of a Notary Public at some stage.

A pre-contract (pre-agreement) precedes the main purchase and sale contract and defines the terms necessary for completing the property purchase. It serves as a way of reserving the property. It establishes the purchase price, the payment structure, and other conditions that must be met before signing the final contract. 

Usually, the buyer should pay a down payment on the same day or immediately after the conclusion of the pre-agreement, which is generally set out at 10% of the real estate value. However, the buyer and the seller may agree differently.

We have outlined all of the relevant steps when purchasing real estate in Croatia in our "Boora Research" guide. You can find it here.

Through their Croatian subsidiaries, foreign companies are allowed to purchase any type of property in Croatia, apart from agricultural land, forest land, or national monuments.  

It cannot be stressed enough how important it is to have a real estate lawyer – one that specializes in this line of work – to review the documents for you during the acquisition period. An expert lawyer will know what to look for and search for discrepancies. Boora Brokerage has therefore partnered with multiple top-tier law firms in Croatia with expertise in dealing with international real-estate buyers. 

Foreign citizens (those buying a property in Croatia) can notarize all of the documents regarding the purchase and sale transaction, as long as the country they are in recognizes the Hague Convention, and it can provide a signed and notarized copy with an Apostille Seal. 

Citizens of the European Union and countries with which Croatia has signed the Reciprocity agreement mostly buy real estate as private individuals because it is cheaper and more accessible. Others have to purchase real estate by incorporating a company first.

Opening a bank account in Croatia is pretty straightforward, and you don’t need to be a resident in order to do so. You will, however, need the following:

• Proof of your identity – this can be in the form of a passport, a social security card, a driver’s license, or any other government-issued identification
• A deposit – the minimum amount required for this will depend upon the type of account you are opening, but the currency accepted is the Euro (EUR) or Croatian Kuna (HRK)
• A residency permit – this is only required if you have one, as non-residents can open a “non-residents” bank account (but you will need to obtain a personal identification number, which comes from the Ministry of Finance)

The exact documents you will need will vary from bank to bank, but once you have them all in place, you’ll be able to open an account.

There will be a bunch of different fees (lawyers fee, registration fees, agent fees and other fees) that will be reflected in the closing costs of the transaction. Some of the  fees may also be subject to VAT, which in Croatia is known as PDV and is set at a flat rate of 25%.

A real estate transfer tax, sometimes called a deed transfer tax, is a one-time 3% tax imposed by Croatia upon the transfer of real property. Usually, this is an “ad valorem” tax, meaning the cost is based on the price of the property transferred to the new owner.

To purchase real estate in Croatia, the payment must be made in Croatian kuna. This regulation applies to any transaction, whether you are buying real estate as a private individual or as a company.