Buying a Business in Tenerife

If you are NOT thinking of buying a freehold business property, then in general what you are “buying” is what is called here a “Traspaso”. This is a private type of arrangement and what you are paying for is goodwill, stock, fixtures and fittings in the premises (if they are not the property of the premises owner) and also the existing business holder is giving up the right to what ever is left on their premises rental contract. A much better format is to negotiate a proper lease “cesíon” – but this is not so readily accepted by Tenerife landlords! …

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Social Security Number Applications

A social security number ( not to be confused with an NIE number) is only obtainable if you are becoming self employed OR if you have a written job offer in Spanish known as a “pre- contrato” OR if you are a foreign pensioner who has entitlement to health care funded by their home country. UK citizens who are prospective  Employees have to have amongst other things a copy of the AUTORIZACIÓN DE RESIDENCIA Y TRABAJO POR CUENTA AJENA DE DURACIÓN DETERMINADA. Their visa application must be submitted  IN THE UK within ONE MONTH from the notification to the employer …

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On-line mailbox for reporting work related fraud anonymously

The department of Employment have created an online mailbox for reporting work related fraud anonymously. Previously, illegal workers were nervous of reporting an irregularity because they had to give their details, even though the information was know to the work inspectors, but was never communicated to the employer. Now the process is totally anonymous. The move is clearly aimed at detecting those companies that hire under the table workers, or issue part time contracts and then force their workers to work eight hours or more , and also those people who are collecting unemployment benefits and working on the black …

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