© 2020 | Paradise Village | Zainwestuj w domki kempingowe we Włoszech i Chorwacji
Aboute us
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Paradise Village S.A. is a dynamically developing co-partnership operating in the premium class camping sector. The main activity of the company is the rental of holiday homes situated on campsites in Italy and Croatia.
In case you have any questions, our team is always at your disposal.
Paradise Village S.A.
Al. Jana Pawła II 27
00-867 Warszawa
MANAGEMENT OFFICE
IMPERIAL BUSINESS CENTRE
30-363 Kraków
ul. Wadowicka 7
Mobile: +48 662 260 225
e-mail: biuro@paradisevillage.com.pl
FREQUENTLY ASKED QUESTIONS
MOBILE HOMES IN THE CONDO SYSTEM – CROATIA AND ITALY
RENT
21. When is the rent paid and how?
The annual rent is paid in arrears, in 2 equal instalments, in accordance with paragraph 5 of the lease agreement, by the end of June and by the end of December of each year of the term of the contract.
23. When renting a house, does the client have to give details of the bank account to which the rent is paid?
Twice a year the client issues to the subsidiary of Paradise Village S.A. a VAT invoice or a bill on the basis of which the rent is paid, in accordance with paragraph 5 of the lease agreement.
ACCOUNTANCY
1. On what basis is VAT recovered by an investor when buying a holiday home in Italy/Croatia? What’s the procedure and how long does it last?
An investor may recover Italian / Croatian VAT included in the price of a house (Article 7 of Council Directive 2008/9/UE 2). An investor has the right to regain the whole VAT amount from the Italian/ Croatian Tax Office. For this purpose, an investor should take the following steps:
a.) Submit a VAT-R registration application to the Tax Office, appropriate to an investor’s place of residence, and to submit to the Tax Office information about leasing a holiday home to a company whose registered office is in Italy/Croatia. The submission of both the application and information is essential to get an identification number in Poland for VAT purposes. The acquisition of this number doesn’t mean that an investor will have to settle VAT with the Polish Tax Office. The acquisition of an identification number for VAT purposes from the Polish Tax Office is a necessary condition to claim a VAT refund from Croatia (Artice 89 of the Act on tax on goods and services). (Though, after registration for VAT purposes an investor will have to submit monthly VAT returns, which will not show any taxable sales, to the Polish Tax Office).
b) fill in and submit online a VAT-REF application regarding a VAT refund from Italy/Croatia. The brochure on completing the application can be found in the following link:
http://www.finanse.mf.gov.pl/systemy-informatyczne/e-deklaracje/instrukcje/-/asset_publisher/Kq7C/content/instrukcje-zwiazane-ze-zwrotem-podatku-od-wartosci-dodanej-vat-ref
c) an investor should attach to the application scans of all invoices received from the seller, regarding both advances paid by the investor (if there were any) and make the final payment. An investor may submit an application for a VAT refund from Italy/Croatia until 30 September the following year after receiving the invoice. For example, an investor buys a holiday home in May 2020, and then the investor can submit a VAT-REF application for this year until 30 September 2021. There is no time limit concerning when the application is submitted. At the earliest it may be submitted immediately after receiving the seller’s invoice. Irrespective of when the VAT-REF application is submitted, the investor has to possess an identification number for VAT purposes in Poland. Paradise Village S.A. helps throughout the whole procedure. The Tax Office in Croatia should return VAT within 4 months from submitting the application (not longer than 8 months). VAT refund is transferred to the bank account specified in the application (after deducting the cost of an international transfer). The purchase of a mobile home is not subject to VAT in Poland.
2.What are the purchase tax settlements for an individual and a person running a business?
Paradise Village S.A. is able to provide the support of an accounting office, which will complete all legal and tax formalities on behalf of the buyer.
HOUSE OWNERSHIP
3. Is it possible that a house can be located on a different campsite other than indicated in the contract?
No, it isn’t possible.
4. How can clients inspect and control their property on the campsite?
This is possible however, with prior written notification to Paradise Village S.A., no later than 30 days before the planned visit and with the acceptance of Paradise Village S.A. The detailed rules of control are described in the Lease Agreement.
5. Who is responsible for the house insurance throughout the term of the contract?
The owner is obliged to cover the cost of house insurance throughout the term of the contract. Paradise Village S.A. will choose an insurance offer available on the Italian or Croatian market, taking into account protection of the owner’s interests, and will inform the owner whenever the insurance contract is concluded or renewed. The cost of insurance will not exceed 150 Euros per year.
6. Who covers the cost of home repairs?
The repairs are made by Paradise Village S.A., to ensure the availability of the home to tourists. Paradise Village S.A. also covers the cost of repairs essential to keep the house in constant use.
7. Is the buyer obliged to be in person for the technical commissioning of the house?
The house warranty is provided by the builder of the house for a period of 2 years.
8. Is the buyer obliged to be in person for the technical commissioning of the house?
No, they can appoint a proxy for this purpose, who may also be an employee of Paradise Village S.A. on the basis of the granted power of attorney.
CONTRACT
9. May these be settled in EUR?
A mobile home may be purchased in EUR.
10. Is it possible to terminate the lease before the date indicated in the contract?
Yes, it is possible. The terms of such a solution are set individually.
11. What are the possibilities of reselling the house by the owner?
a) The client may sell the house at any time at the market price, maintaining the pre-emptive conditions for Paradise Village S.A. in accordance with the provisions of the sales contract.
b.) The client may sell the house to Paradise Village after 8 years for the net amount of the purchase price.
12. Can we charge the customer interest after the conclusion of the house purchase contract?
For legal and tax reasons, we can charge the customer interest only when the customer signs the lease contract with us together with the attachments and the sales contract.
13. Does the buyer have any influence on the location of the house on the campsite?
Yes, when purchasing a house available locations are offered by Paradise Village S.A.
14. May the location of the house be changed during the lease and who bears the cost of transfer?
Yes, there is such a possibility. Paradise Village S.A. may decide to change the house location in order to secure and maximise income from managed houses. For the first 3 years of the contract, the cost of moving the house is borne by Paradise Village S.A.
LEGAL SECURITY
15. What is the legal status of the land on which the houses are built?
The land on which the houses are built are at the same time leased by companies cooperating with Paradise Village S.A. on several year lease contracts. Paradise Village S.A., as the owner of the houses, guarantees the possibility to change the location, if the situation requires it in the company’s opinion e.g. the land owner’s conditions change, which would adversely affect the company’s financial results), which directly reduces the investor’s financial risk.
16. Is profit up to 4.5% per annum guaranteed and how?
A subsidiary of Paradise Village S.A. operating in Italy or Croatia leases a house from a client in exchange for an annual rent up to 4.5% of the purchase amount. The profit is guaranteed by Paradise Village S.A., the situation on the tourism market and occupancy guaranteeing a stable income.
OWNER STAY
17. When can the owner have a holiday at the house?
During a calendar year, the lessor may stay for 2 weeks in the holiday home where it is located at no cost, provided that:
a.) The holiday takes place from 1 April to 15 June, provided that the campsite on which the holiday home is located is open during this period.
b.) It can take place from 15 June to 15 July for a total stay of no longer than 7 days.
c.) No holiday is allowed from 15 July to 31 August due to the high season.
d.) The holiday may be take from 1 to 15 September for no longer than 7 days
e.) It may be taken from 15 September to 30 August, provided that the campsite on which the holiday home is located is open during this period.
f.) Any holiday to be taken must be reported to the company by 31 March each year.
18. What are the approximate cleaning costs of the owner-occupied stay?
The cleaning cost is 50 Euros for the whole holiday. According to the length of stay, an additional flat rate is charged to the owner of the house, which ranges from 12.50 to 50 Euros (service costs).
19. May owners extend their holiday at other campsites?
From the third season of ownership it is possible after individual agreement with the company.
20. Is it possible to transfer the owner holiday rights to family or friends?
There are no restrictions in this regard.
