LEGISLATION IN BULGARIA

At present foreign natural persons are not allowed to own land in Bulgaria. This restrictive provision will be in force till 2014. That is why if you are interested in buying a plot or a property with land you should overcome that obsticle by setting up a company that is considered a Bulgarian legal entity and is entitled to buy and own land in Bulgaria.

COMPANY REGISTRATION

There are several types of legal entities provided by the Commercial law. These are General Partnership, Limited partnership, Limited liability company, Joint-stock company and Association limited by shares. Each of them can be established by natural and legal persons. There is no difference between these types of entities regarding taxation. The most common and suitable form for the purpose of buying property in Bulgaria is the limited liability company. Founders may be one or more domestic or foreign natural persons or legal entities. The minimum capital is 5 000 leva that should be deposited in the bank during the processes of registration and then can be withdrawn. The company has to be registered in the court and the decision of the court has to be promulgated in the official state newspaper ?State bulletin?.

FEES

The commission fee of our agency is 3 % of the negotiated price of the property.
The registration of a limited company will cost you about 600 euro.
The minimum capital of the company is 5 000 leva or approximately 2560 euro. Once the court decision is ready you can with draw it from the bank.
Taxes for the transfer deed are as follows: municipal tax ? 2 % of the price, registration agency fee- 0,1 % of the price and notary fee ? about 0,5 %.
We offer a travel service as well ? organizing your journey, reserving tickets, etc.
Other expenses ? rates for transferring money from abroad and charges for documents translation ? about 200 euro.

STEPS IN BUYING PROPERTY IN BULGARIA

On deciding to buy a property in Bulgaria you should clear out for yourself what kind of property you wish to acquire /a flat, a house, a plot to build a house or a block of flats on it, etc./, its position /in the centre of a city or in the suburbs, at the seaside, in the mountain or in a spa-centre, etc./ and the sum of money that you are ready to invest for such a property. Then you can contact our website and our representatives with more clarifying questions and details. We will promptly answer your inquiry with the most suitable offers available at the market at that moment. When you choose a property our lawyers work out a preliminary contract and you pay a 10 % deposit to put the property off the market. Parallel to the setting up of the limited liability company takes place. In a month the transfer deed is done and you become the owner of the property you have chosen. The only duty that still remains is to enjoy it.

1. Deciding where to buy and the investment rate.
2. Selecting offers and choosing the proper one.
3. Company registration.
4. Paying 10 % deposit.
5. Notary deed.