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.
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.