FAQ

Here you'll find useful answers to frequently asked questions about the ZELENA PUNTA resort and the purchase of new apartments.

Can I take a tour of the resort?

Sure - simply email apartmany@zelenapunta.sk to arrange your walk-around.

Are the apartment prices inclusive of VAT?

Yes, all prices include VAT.

Where will I park?

Each apartment has a designated parking space.

Can I see an overhead view of the renovated apartment buildings' location?

How about before/after photos?

How do the apartments look right now?

The apartment houses Planika, Agava, Mirta, Palma and Oleander are completed and fully furnished (a total of 46 apartments).

Apartment houses Lovor and Levanda (24 apartments) will be completed by the summer season of 2025, which we will gradually add to the offer.

As a new owner, what legally-applicable fees must I pay?

Property transfer tax (immovable property sales tax) in the amount of 3% of the purchase price.
Communal fees (komunalna zadna) in the maximum amount of EUR 5.60/m2 of usable area per year.
Recreational real estate tax (vacation tax) in the amount of EUR 3.50/m2 of usable area per year.
Income tax in the amount of 12% of the income reduced by 30% (flat-rate costs) in the form of monthly advances.

What are the specific operating conditions for the apartments?

This is through a hotel programme (rental pool), by which the owner - under pre-agreed conditions - leaves the apartment to the operator on the basis of a lease agreement for commercial short-term rental. Specific details as per the rental agreement. Rental income is divided in a 60:40 ratio in favour of the owner. Operational costs (energy and bills) inside apartments are proportionally divided between the owners in the pool.

What are the estimated annual running costs for an apartment?

Residential package: complete estimated costs of operating the resort are EUR 50/m2/year of apartment living area (i.e. excluding balconies and terraces).

The residential package excludes energy usage and bills inside apartments. The management company will make these payments on the basis of semi-annual advance payments for: electricity supply, water, heat, media and necessary adjustments inside an apartment. Advance payments in the first year are an estimate - the final amount depends on apartment size and real consumption. The estimated amount is EUR 40 to EUR 75 per month/apartment.

What about the terms of use? Upon buying an apartment, can I use it myself a few days a month? Could you expand a little on how the model works?

As part of the hotel programme (rental pool), each owner has a set time fund available for private use. That also includes a hotel services package for the owner's comfort - such as cleaning/ washing/changing hotel linen, hotel cosmetics, internet connection, and a standard TV programme package. In the high season (July - August), the owner can use the apartment for 14 days and out of the high season (June and/or September) for 7 days. For the rest of the year, the owner can use the apartment as needed, however hotel services (cleaning, washing, etc.) are charged as per the price list.

How far are the apartments from the sea? Is sea-access part of the hotel area?

The apartments are 30 to 150 metres from the nearest beach and part of an area of apartments, sports and leisure attractions, as well as places to eat.

Must I make the apartment available for rent?

Yes, part of the purchase includes entry into the hotel programme, as stipulated by the regulation of tourist area T2, where the property is located.

What's the admin fee?

The admin fee for the residential package is EUR 50/m2/year of the apartment's living area, i.e. excluding balconies and terraces.

Is profit from the shared pool or for a specific apartment?

Revenues are shared from a common pool, not per specific apartment.

Can an apartment be bought for a company (legal entity)?

Yes, that's possible.

Acquisition of real estate by a Slovak legal entity:

registration and management of VAT in Croatia
accounting for acquisition and business with Croatian real estate
risk of establishing a permanent establishment in Croatia
more complicated calculation of the tax base in Slovakia

The following alternative is simpler:

Croatian subsidiary (CroCo) owned by Slovak legal entity (SlovCo)
CroCo will register for VAT in Croatia
properties will be acquired by CroCo
business activities related to real estate will be accounted for in CroCo, and taxed as per Croatian tax law
dividends paid from CroCo to SlovCo will not be subject to tax in Slovakia or Croatia
the sale of real estate by CroCo will be subject to tax in Croatia
the sale of CroCo by the parent company SlovCo will be exempt from income tax in Slovakia if the conditions of § 13c of the Income Tax Act are met (very simplified: after two years of ownership)

Croatian corporate tax is 18%, and 10% tax applies for a tax period with sales of less than approx. EUR 1 mil.
Slovak corporate tax is 21%, and 15% tax applies for sales during a tax period of less than EUR 49 790.

The acquisition of real estate in Croatia directly by a Slovak company is a more complicated alternative (from the accounting, tax and legal perspective).

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