Upon request, our real estate experts will conduct an expert assessment of the property.
How is the evaluation process run:
There are various methods of real estate valuation, but basically, the appraiser's actions algorithm consists of the following steps:
the site visit to get acquainted with its parameters, condition and location;
the study of such offers on the market in appropriate sources - sites and portals of real estate, property registers, etc.
Based on the information collected, the expert makes a report that contains the following information:
Who owns the property
Description of the property, including photo materials
Examples of similar offers in the real estate market, including photographic materials and links to sources
Liquidity assessment (how fast real estate can be sold)
Estimation of rental income if the property is not for sale, but remains in ownership
Estimated sale price
Bulgaria has one of the most liberal foreign investment legislations in the region regarding bulgarian properties, including for foreign investors. According to the Bulgarian Constitution and legislation foreign persons and companies can invest in real estate in Bulgaria either personally or through a local legal entity. As a rule, foreigners - not EU citizens - as individuals can only purchase buildings, but not land. Only EU citizens and legal entities registered in Bulgaria (including those with a foreign owner) can obtain ownership of the Bulgarian land.
For non-EU citizens, in order to purchase Bulgarian real estate with land, it is necessary to create a company that will be the owner of the property. Creating a company in Bulgaria is very easy. Best is a limited liability company with one owner (OOD). Bulgarian capital is not required to participate in the company. A permanent address or permanent residence permit is not required.
You should be aware that …
in Bulgaria there are terms such as “assessed value tax” and “purchase price”.
The tax assessment of the value of the property for tax purposes differs from the actual price for which buyers purchase real estate, so as a result of this there may be a difference between prices for taxation.
All objects offered on our website are evaluated depending on their size, conditions, situation, but most importantly, in accordance with the established cost of sellers.
Deposit (deposit)
If you want to reserve a property, you must sign the so-called preliminary contract and pay the Seller a deposit, which, as a rule, is 10% of the sale price of the property. The preliminary contract prescribes the sale price of the property, the due date, rights and obligations of the parties to the contract. If the Buyer cancels the purchase, then he loses the deposit.
In principle, you receive a Deposit receipt, and are determined with the terms of the remaining payments on the transaction.
Property Acquisition Procedure
Choosing a property to buy, you decide: you buy it with or without land. If necessary, a limited liability company must be registered when purchasing land.
After this, the preliminary contract is signed, the lawyers check the property.
Registration of a transaction by a notary on the transfer of ownership of you or your company.
Upon request, our lawyers will carry out a full audit of the property you are interested in:
notarial act, building permit, Act 16, certificate of existing encumbrance or its absence (mortgage, seizure, pledge), depending on the case. Upon completion, they will give you a professional opinion with supporting documents.
The main advantages of holding a residence permit in Bulgaria are:
visa-free entry and stay in the country;
the opportunity to take advantage of the simplified procedure for obtaining a Schengen visa (for registration, you must contact the embassies of countries that have their representative offices in Bulgaria);
opening and running your own business in the country (it is worth noting that taxation in Bulgaria is one of the lowest in the EU);
the right to issue a visa invitation to visit the country for foreign citizens.
How to get a residence permit in Bulgaria?
Pre-conditions for obtaining a residence permit are: the applicant having a category D visa, own or leased real estate, medical insurance policy and sufficient funds for living in Bulgaria.
Also, the applicant must fulfill one of a number of conditions. The most relevant are:
having your own business in Bulgaria with at least 10 employees - citizens of the country;
presence of the status of a representative of a foreign company registered in the country's chamber of commerce and industry;
the presence of a pensioner status with a certain amount of pension or own savings.
Upon request, our lawyers will provide You with professional assistance in preparing documents for obtaining a residence permit. Our lawyers provide a full range of services for preparing documents for obtaining a D visa, opening a representative office, applying for a residence permit in the Ministry of Internal Affairs (Migration Police).