According to Bulgarian 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. Only Bulgarian citizens and legal persons / including such with foreign owner/ can obtain the ownership of Bulgarian land.
Therefore, the most popular and preferred by non -
residents ways to become real estate owners are:
- as far as houses, flats, villas and limited ownership rights are
concerned / such as right of use, right to build a house etc./ are
concerned, you can directly purchase them as a person
- when talking about Bulgaria real estate with land, you have to
set up a company that will own the property.
Choose a property at our web site.
Make Preliminary inquiry and get all your questions answered.
Visit Bulgaria and see the property and land at first hand, sign an agent contract.
Decide on your new property, accept the offer and place a deposit
of 10 % to take the property off the market.
We will now commence with all the paperwork, keeping you informed
at every stage.
By signing Contract of Purchase you pay 5 % of the property price which includes preparation of the Notary Act. You have to pay also 2 % local tax and the notary fees about the purchase.
Become the Owner of Property in Bulgaria
All this is illustratedwith the following example:
If you choose a property at a price of 30 000 Euro, all the expenses of buying it are:
The kind of the company you may form is Private Limited Company / limited
liability company/ - OOD.
It is a commercial
company with share capital owned by its members whose liability is limited
to the amount of the capital subscribed. One or more persons, including
foreign natural or juridical persons may form such company.
The minimum
foundation capital is 5000 lv, divided into shares. The company is incorporated
from the date of its registration in the trade register of the relevant
district court.
In order to be registered in the trade register, the
company must have its Articles of Association, have appointed its managing
director and have paid at least 70 % of its authorized capital.
