1.Why to invest in Bulgaria TODAY?
The conditions for investing money in real estates have never been more favorable;
Bulgaria is a country with unlimited opportunities and one of the most attractive destinations on the real estate market in Europe;
Bulgaria is beautiful, due to the climate being pretty mild, because there are endless beaches, terrific ski resorts, lovely mountains and picturesque lakes and rivers;
The people are hospitable and friendly, and have unique and interesting traditions;
The prices of services, goods, labor, and land are low and you can afford them;
Prices of properties are reasonable and offer an enormous number of opportunities and circumstances which could help you make Bulgaria your home;
2.What is the economic situation in Bulgaria and what politics does the country pursue in relation to foreign investors?
After 1996 there is a positive rate of growth in Bulgaria, which is partly due to the introduction of the monetary board in 1997, and in the recent years there has been an economic development of over 4,5%(one of the highest in Europe), and largely intensified growth indexes in tourist business. Tourists from more and more countries are interested in Bulgaria as the best alternative for spending holidays, and as a country, in which you can invest free funds in real estates as well as in commerce and in different types of manufacture. This is so because of the low customs fees, the policy on attracting foreign investments by low taxation and a number of preferences for the foreign capital. Bulgaria has one of the lowest average prices in Europe, although manpower has a lot of experience and excellent qualification. The currency unit is a Bulgarian Lev (1 EURO=1.95 levs).
3.How can I enter Bulgaria and how long can I stay in the country within a year?
ENTRY REQUIREMENTS
With effect from the 1 September 2006, Britons holding valid passports will be allowed to enter Bulgaria for up to 90 days in any 6-month period without requiring a visa, instead of the previous 30 days. Prior to travelling you should ensure that your passport has a validity of three months beyond the end of your intended stay. You are not allowed to re-enter Bulgaria after the initial 90 days have expired if you have not spent the requisite period outside the country.
If you wish to visit for longer than 90 days, and/or reside in Bulgaria on a more permanent basis, you should contact the Bulgarian Embassy in London and arrange for an appropriate visa. Dual nationals of Bulgaria and any other country should enter and exit Bulgaria on their Bulgarian passports. It is always advisable to carry your Bulgarian travel document with you as well as that of your second nationality.
You may exceptionally be able to extend your stay in Bulgaria beyond 90 days (normally only for urgent or compassionate reasons) by applying at the local passport office. However, switching 'status' is no longer allowed. For example, if you enter as a visitor then decide to establish a business, or stay on a more permanent basis, you will have to leave the country and apply for the appropriate entry clearance at a Bulgarian Embassy.
With effect from 1 January 2006, all children entering Bulgaria will need to have their own passport. Children included in parents' passports will only be allowed in if the passport also contains their photograph. Single parents or other adults travelling alone with children should be aware that some countries require documentary evidence of parental responsibility before allowing lone parents to enter the country or, in some cases, before permitting children to leave the country. We can help you with this for a small fee.
4. Are there any limitations for obtaining a property by foreign investors in Bulgaria?
According to the Bulgarian legislation foreign real persons cannot buy land in Bulgaria. They can own an apartment or a house, but not the land they are built on. This is often inconvenient, but fortunately there is a way to avoid the problem by registering a Bulgarian company. The companies registered in Bulgaria are legal entities. After becoming an owner and a manager of a Bulgarian company, you have the right to manage the assets of the firm, which includes real estates too. Then you will be able to buy any property – land for cultivation, houses with plots, building plots within regulation, as well as apartments and all kinds of buildings, for more information look here.
5. How can I get a property in Bulgaria?
First you have to decide what you would like to own in Bulgaria – if you wish to obtain an apartment – it is necessary to examine our offers, they are represented in detail on our site Coming SOON, to select regions in which we can organize viewing trips for you and after deciding on a specific region, complex or apartment – we will book it for you, inform you about the builder’s terms, the way of payment by leasing, the disposition of the rooms, the stage of completion, the furnishing, and if there isn’t any, then you can order some from our online furnishing store www.bulgarianrealestateshop.com. We will also inform you about the requirements the property should meet if you intend to rent it out later on. For more information visit our website www.servicesinbulgaria.com, which is created especially for this purpose.
If you have decided to obtain a house with a plot of ground, the procedure is a little longer, but not complicated. After specifying the property, you have to be registered as a legal entity, i. e. to register a company of your own, by which you will have the legal right to own real estate property in Bulgaria. It is necessary to pay a 10% deposit from the market price of the property in order to draw it out of the market. At this stage you sign a commission contract with the Agent and the documentation on transferring the property is prepared.
After the registration of the company and concluding the preparation for finalizing the deal, the property is transferred to the new owners at a Notary’s office and after the expiration of the legal period the new owners get a Title Deed.
6.How can I register a company in Bulgaria and what are the types of organizations preferred?
The most widely-spread form of organization for foreign investors is the limited liability company (Ltd). Other types are: the joint stock company, the sole proprietor, the joint venture company, the subsidiary company, the holding, the co-operative, and the representative office. The limited liability companies, the joint stock companies, companies with limited public ownership, limited companies, holdings and co-operatives are legal entities. The subsidiary companies and the representative offices are independent legal entities; The subsidiary companies can also include business assets – they have their own property and keep a separate balance sheet. Representative offices cannot have business assets.
In order to register the most common type of company, which will give you the legal right to own a real estate property in Bulgaria, you only need to give your personal data and name to the company and to hire a licensed Bulgarian lawyer, who can take up its registration. You have to pay a registration fee and to deposit a certain amount of money with the bank account of the company. This exists as a requirement in the Bulgarian legislation which you could respectively use for your benefit.
If you register a limited liability company with the purpose of buying a property in Bulgaria, there are two possibilities. You could register a company with 1% Bulgarian participation, or as a one-man Ltd, which is 100% Yours. The Bulgarian participation with 1%, which our company transfers to you afterwards, is given with the only purpose to register the company, then to buy the property on Your behalf in case you don’t wish to travel to Bulgaria. After the deal is concluded this 1% could be returned to the client without being charged or we could keep it as this is often preferred by our clients. With the 1% we have, we can manage Your property while you are absent, taking care of the annual payment of all taxes and bills, as well as its regular cleaning, and in fact we assume the role of managers if this is assigned to us by our clients. In this case the process of registration takes 2-3 weeks.
In the case of one-man Ltd the company is 100% Yours and you are its only proprietor. This means that if you do not intend to travel to Bulgaria, we have to be provided with a power of attorney, to register the firm, and then to buy the property (unless you come here to do this personally). These letters of attorney should be notarized and certified with a special stamp called Apostil, which can be obtained only in the Ministry of Foreign Affairs in your country. This usually takes about a week for each separate activity. That is why the procedure becomes longer.In this case the whole process of registration takes one –two months. That is the reason why we recommend accepting the first option with 1% Bulgarian participation so that the purchase should be concluded for about a month. But it is up to you - our clients. Finally You will do the best for yourself.
7.Do I have to register a company if I want to buy an apartment?
The answer is: “NO”. Foreign individuals can buy apartments and buildings in Bulgaria as physical persons.
8.How can I view some of the properties offered in this site ?
When you choose some of our properties you only have to get into contact with us – on the phone or by e-mail and we are going to organize your entire trip. Our agent will meet you at the airport and will take you to the hotel, which we have booked for you according to your requirements and budget. You can visit one of our offices closest to you and we will show you our database with all the properties available at the moment in the region you are interested in. We do not take a viewing trip fee. If a company car is used, we charge you 0.20 EUR / km to cover the petrol expenses and wear cost of the vehicle. Most of our cars are air-conditioned. We offer a discount for the transport expenses to the clients who have bought a property from us, although this fee is not refundable. If you want to save our transport charges we highly recommend
renting a car at the most reasonable price through bulgarian-carhire.com 9.How can I organize my stay in Bulgaria?
Direct international flights to the capital Sofia are available during the whole year..
Direct charter flights to the Black sea (Varna/ Bourgas) are available during the spring and summer months and can be booked through our local British travel agencies.
Our company could help you during your entire stay in Bulgaria through our Bulgarian Real Estate Tours department who will take care of your trip, reception, accommodation, organize your entire stay according to the time you have for viewing and rest, and will take care of your peaceful departure.
10. How can I book the property I have taken a fancy to?
If You are interested in one of our properties and would like to book it, you have to place a deposit, which includes:
1.A booking deposit – 10% of the market price of the property.
2.Our commission, which is 3% of the market price of the property or a minimum of 500E. When the sum is at our disposal, we will take the property off the market and pay the 10% deposit to the seller for a period of 30 days. Within this period of time you have to register a company in Bulgaria and to pay the rest of the money in order to conclude the deal and get a Title Deed.
11. Is it necessary to come to Bulgaria in order to buy a property?
If you decide not to leave Great Britain, but are willing to buy a possession of yours and register your own company, then we need: a copy of your passport, your full address, the name you have chosen for your company, a 10% deposit for the property, our company’s commission, the share capital of 5,000.00 BGL and 500EUR (company set-up fee). After having all this we can bring all the procedures to an end instead of you and send you the Ownership Documents and the keys straight to your home.
12.Will the deposit be given back to me if I give up the deal?
Unfortunately we cannot offer a refund if you decide to give up purchasing a given property because the deposit will already be given to the seller in order to secure the property. If the vendor gives up the deal, you could transfer the deposit to buy another one, offered by Bulgarian Real Estate. Our commission is not refundable.
13.What exactly should I buy after having taken the decision to buy a property in Bulgaria?
-At first – 10% from the selling price of the property as a deposit for taking the property off the market, afterwards – the remaining 90% - the rest of the sum after the final preparation of the transferring documents.
- 3% from the market price of the property or a minimum of 500E – a commission for the company
-500Е- registration fee for launching your company if you buy a property with adjacent land.
5000 lv Ltd capital in a bank account;
-3% from the selling price for notary fees in order to transfer the property.
14. How long does the whole buying procedure last?
The whole procedure will last approximately a month – from depositing the property to receiving the Title Deed.
15. How should I proceed if I decide to renovate my property?
We have teams of specialists in the field of architecture, building construction and interior design. They work precisely and qualitatively and at reasonable prices. Moreover, our company offers expert evaluations for the condition of the properties and gives directions and advice, connected with the necessary means and materials for possible repair works according to the current condition of your property.
If you want to rent your property out during the time you are not present in the country – our to the state requirements for obtaining a category, and carry out the repair work and the furnishing.
16. If I buy a plot of ground – what should I do in order to build a house on it?
We have building teams on the territory of the whole country and it will be a pleasure for us to co-operate with you in building your new house. We work together with some of the best enterprises in the country and with some of the best architects. They can build any type of house you may wish. We can prepare architectural projects and make all the necessary calculations for you, as well as prepare the terrain and take all the building licenses and all the necessary documents for launching the construction in Bulgaria. After that we can build the house in full accordance to your requirements and preferences.
17. If I have taken fancy to a property somewhere, can I order you to buy it for me?
We co-operate with many agents from the whole country, and if a property has attracted your attention and you know that it is for sale but it is not present in our database, we will do our best to make you a better offer than the one you have already got or read.
18.If I want a certain property in a particular region, but cannot find it in your site, can you look for it or offer me something new especially for me?
We have several thousand properties in different regions of Bulgaria. If you are interested in a particular region and we do not have anything suitable, we can send a representative of ours in the same region and within several days we will make you interesting and absolutely topical offers you can choose from, dependant on your preferences and budget. There are no impossible things for our company. We are everywhere and do anything for our clients.
19. How can I earn money from the property I have bought in Bulgaria?
If you own or wish to buy a property in a region interesting for tourists, or your property meets certain criteria for renting it out, you need to get informed about the work we do concerning property management. Getting acquainted with our most promising and excellently organized department Property management will prove to be your most profitable step on the way to the return of your investment in Bulgaria.
