The Croatian commercial real estate market has been witnessing explosive growth for the past years. The construction of hotels, resorts, and other assets with a tourism-related focus has been a major contributor to the development of the market in recent years as a direct result of the thriving tourism industry in Croatia. The thriving economy of the nation has led to a surge in the need for warehousing and distribution centers, logistical facilities, office and retail space, and other facilities that are linked.
The market for commercial real estate in Croatia
Zagreb, the capital and largest city of Croatia, is also the country’s most populous metropolis, making it one of the busiest regions for commercial real estate. The cities of Rijeka, Split, and Dubrovnik are the most significant in terms of the Croatian industrial sector. To encourage the growth of the industry and encourage investment and development, the government of Croatia has implemented some programs, including tax incentives for business developers and investors. The nation’s membership in the European Union is another factor that draws the attention and interest of international investors in the commercial real estate industry. It is anticipated that the expansion of this industry in Croatia over the next few years will be driven primarily by the rising demand from both domestic and international investors.
Getting your real estate business off the ground in Croatia
The following is a list of the stages that you may take to get started:
Choose a format for your company
The first step in creating a commercial real estate firm in Croatia is to decide on a suitable organizational form for the company. Three different types of organizations can be chosen when registering a business: a limited liability company (LLC), a joint stock company (JSC), or a cooperative. Before selecting a decision, it is essential to give careful consideration to the specific needs and goals you have for your firm since each type of business structure comes with both advantages and disadvantages.
Register your business
When you have chosen a structure for your company, you will need to register it with the Croatian Commercial Court so that it may legally operate. As part of this process, you will be required to present a variety of documents, including articles of organization, a business strategy, and verification that the required fees have been paid.
Ensure that you have all of the necessary licenses and permissions
Depending on the type of real estate endeavor you want to pursue, you could be required to submit applications for some licenses and approvals. If you wish to engage in construction or redevelopment projects, for example, you need to obtain a building permit beforehand. If you intend to manage properties, you should investigate whether or not you are required to obtain a license in property management. It is essential, before starting a company, to conduct research to determine which licenses and permits are necessary for your particular line of work.
Put in place a reliable monetary system
If you wish to maintain command over the monetary dealings that take place in your company, you’ll need to put in place an appropriate financial system. In addition to that, it might involve employing a financial manager or accountant, opening a bank account for the firm, and installing accounting software.
Form a marketing plan
You are going to require a strong marketing plan to advertise your company and bring in new customers. Building a website, maintaining an active presence on social media, and devising a marketing strategy that is geared toward your ideal customers are all examples of what this entails.
Create new relationships and expand your existing network
One’s level of success in this market may be directly correlated to how well one network with other real estate professionals. Participating in networking events, professional organizations, and regional business groups is a great way to meet and interact with new partners, clients, and suppliers. These are also good ways to make new business connections.
Recognize and adapt to the changing market trends
To maintain a competitive edge in this market, it is essential to be abreast of emerging trends and technological advances. To accomplish this goal, it is likely required to keep up-to-date on the latest changes in the market as well as any relevant regulations by reading trade magazines and attending relevant industry conferences.