FAQs

Q: Is it difficult to buy a property in Bulgaria?

A: No. Bulgaria has one of the most liberal foreign investment laws in the region regarding Bulgarian real estate. 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. Generally speaking, foreigners as persons can acquire only buildings but not land. In order to obtain the ownership of land in Bulgaria all non residents should buy the property as a juridical person not as physical one, in other words, register a company on your name and buy the property trough it. If you are a foreign person, you are still not allowed by the Bulgaria Law to own as a physical person a property which comes with land. Properties that come with land are: houses with gardens, plots and in some cases, apartments which go together with ideal parts of the land the block was built on. The only way to buy a property with land in Bulgaria is by forming a Bulgarian limited company. This is a smooth a straight-forward procedure, which has been used by thousands of foreigners so far.

Q: Why do I need to register a company in Bulgaria?

A: Bulgaria has one of the most liberal foreign investment laws in the region. Despite all, only Bulgarian residents can acquire title to land, while non-residents may acquire only buildings and limited rights (e.g., leasehold and construction rights) to land. In some limited cases, acquisition of immovable property by non-residents requires prior permission of the Ministry of Finance. Therefore the most common way for foreign investors is the company with limited liability.
IMPORTANT NOTICE:
The company you register will own the property and you will own the company and its assets. There is no need to have a Bulgarian partner or manager of the company – any foreign person can register and own 100% of the shares of a Bulgarian company. It will be a regular limited company, which can also trade and you can do business with it if you wish. Tax conditions in Bulgaria are very favorable for starting a business.

Q: How much cost the company registration?

A: Our lawyers will fully assist you in registering your LTD Company in Bulgaria. To register a company on your behalf we will charge you a fee of €450 (Euro). Please note that the company must prepare and submit annual tax declaration forms as well as to keep accountancy books. Therefore, we have qualified local accountants to care after you company's books at additional cost.

Q: What the property price includes?

A: The price displayed is NOT the total purchase price. It only includes the price of the property (vendor’s asking price) and fees for basic consultancy on legal and tax issues.
Please read carefully the following taxes and fees applied to each property.

Q: What are the payable legal fees and taxes?

A: Transfer taxes
The transfer is subject to notary and municipal fees. The notary fees are paid on the higher of the market price or the book value of the property at varying rates, specified in a special chart. In addition, 2% of the market value of the property is paid to the municipality where the real property is located.
Value Added Tax
Transactions with land and lease of property for residential purposes are exempt from Value Added Tax (VAT). All other real estate transactions are subject to VAT at the uniform rate of 20%. The buyer/lessee is entitled to a VAT refund, provided that it is registered for VAT purposes.

Q: What are the fees charged by Bulgarian Estate 4U?

A: Our fees as your agent cover many important services which we provide you with during the purchase process - such as: searching properties to your requirement, organizing all viewings, solicitor's assistance, full check on the title deeds and the ownership, preparation of all necessary contracts, paperwork, negotiations with the sellers, communication costs, etc.

Administration Fee
The administration fee applies to every single property we sell. Our administration fee is fixed and does not depend on the price of the property you buy. The amount of the administration fee is €150 (Euro) and must be paid together with the holding deposit. It is not refundable if you decide to pull back from the deal.
Commission
We believe that choosing Bulgarian Estate 4U to be your partner is the right first move to get involved in Bulgarian real estate market. We know that you are familiar that there is no such thing like “free lunch”, even so we believe that we are giving you the best possible service at affordable price.

Q: What kind of documents I am entitled to get for the property I buy?

A: You will receive title deeds in your name (when buying property without land to it like apartment, studio, etc), or if you are buying any property with land belonging to it, that must be through a company and the deeds you will get will be in your company name.

Q: How long it takes to buy a property in Bulgaria?

A: Generally it will take 3 - 4 weeks to buy a property. Once you have decided on a property, give us a call or use the “contact form” box located in every offer. You can even send us an e-mail with any questions you might have about the properties. For viewings you need to arrange a trip to Bulgaria and let us know or let us book it all for you. We will then set the necessary appointments. You can also ask us any other questions that you have, we’re here to help!

Q: How the viewing process works?

A: Coming to Bulgaria is easier than ever!
Just choose a real estate and leave the rest to us:
- We will book your hotel or even rent-a-car to suit you best. All you need to do is book your flights.
- Shall you decide to use one of our company cars for the viewings, this is not a problem – just let us know and one of our drivers will be on your services at small charge to cover fuel, wear and tear costs of the vehicle. We will charge you only €0.30 (Euro) per km. This charge is equal to the price charged by the taxi companies in Bulgaria. However, if you buy a property with us, any transport costs during the viewings charged by Bulgarian Estate 4U are fully refundable! If you would like us to drive you further distances (from one of our offices to another, or from the airport to a hotel, or other destinations than properties we offer for example) we will negotiate a fixed price for each journey. This fee is non-refundable.

Q: Who needs visa to visit Bulgaria?

A: At the moment EU citizens can stay in Bulgaria for 90 days in any 6 months. After this period you can easily apply for a Residence Certificate once you are in Bulgaria. This is valid for up to five years. Non EU citizens should contact Bulgarian Embassy in their home country, for the latest visa information.

Q: What do I need to bring with me on my first visit?

A: Firstly you will need your passport, but also some money (Euro and Leva) if you want to place a deposit immediately. (You can bring up to €10,000 (Euro) each into Bulgaria without declaring it if you have come from another EU country.). We would suggest you to bring some sturdy shoes for the viewings in the country, as some properties might be less accessible than others.

Q: How do I reserve a property?

A: The deposit ensures that the property is removed from the market and not sold to anyone else. After you have made the decision to buy a certain property you have to place a deposit in order to reserve it. The deposit is 10% of the selling/asking price, but not less than € 1000 (Euro).
Upon receipt of cleared funds we will take the property off the market for a period of 30 calendar days. During this period you must pay the rest of the property price, if nothing else agreed.
The reservation deposit of 10% is refunded when you complete on your purchase.

Q: What if I change my mind?

A: If you put a deposit for a particular property and decide to pull out of the deal then you will not receive the deposit back. Therefore we suggest that you put a holding deposit only when you visit Bulgaria and see what you are buying. This way you will be 100% sure if your investment is the right one for you.
If the vendor pulls out of the deal your deposit will be transferred to another property we sell.
You can also reserve the property by paying a deposit equal to the the full price. This amount will be treated as a reservation deposit and the reservation deposit terms will apply. Please see the previous paragraph!

Q: Is it possible to buy without coming to Bulgaria?

A: Yes, this is possible, but not always so straightforward. You will have to get documents signed and stamped in the UK. You will need to go to Bulgarian embassy in your country to sign the power of attorney/s so we can act on your behalf and do all the purchase. It is often easier and quicker to come to Bulgaria for a couple of days and sort everything out here. Only this way you will be able to see the property, which we always suggest our clients.

Q: Can I use credit cards while in Bulgaria?

A: Yes. Credit cards, such as MasterCard, Visa, Diners Club, American Express, Access, Air plus, are accepted in Bulgaria. They can be used for payment at the most hotels, shops, restaurants, supermarkets, travel agencies, car rentals, etc.

Q: Can I pay by travelers’ cheques in Bulgaria?

A: Travelers’ cheques are cashed only in the big towns and it is very likely that you will get charged high commissions for doing that. Normal cheques take about 4 weeks to clear and they are not suitable for payments, especially for placing a deposit! Therefore our company will not accept that kind of payments.

Q: What is the political situation in Bulgaria like?

A: Political situation in Bulgaria is determined by a stable parliamentary democracy. Bulgaria is a NATO member since 2004 and a member of the EU since 2007.

Q: What is the weather like in Bulgaria?

A: Weather in Bulgaria is determined by a temperate continental climate and four clearly marked seasons. Summers are warm and sunny; the average temperature for five months (May-September) is about 25 degrees Celsius. Although not severe, winters are cold in some parts of the country, especially in the mountains and offer excellent opportunities for winter sports. That is why Bulgaria is an attractive tourist destination both
during summer and winter. A mild Mediterranean influence is felt in more southern parts of the country and at the Black Sea coast and winters there are milder and not so cold.

Q: What are the regulations for currency import/export?

A: Foreigners may import and export Bulgarian banknotes and coins in circulation (and relevant amounts of foreign currency) to the amount of up to €10 000 (Euro) without declaring it. They may import and export sums exceeding this amount if they fill in a declaration after a sample for the currency value they carry. The foreign persons may export without any other formalities convertible (hard) currency in amounts that do not exceed the amount of the currency they had imported and declared.