1.How do I purchase a property in Bulgaria?
Foreign nationals are allowed to purchase land in Bulgaria only though setting up a company. Foreign citizens are not allowed to purchase land in Bulgaria as a physical person. If you purchase a house you need to set up a company in Bulgaria and we can assist with that. As the company will own the land and you own the company, this is just a legal work around.
The first step in the purchasing procedure is to pay a deposit of 10% of the purchase price of the property (in some special cases we require 15% deposit). Once we receive the deposit we sign a preliminary contract with the owners so we could guarantee the availability of the property for at least 30 days. During these 30 days we will have to register your limited company and prepare all the necessary papers for the deal. In order to start the registration procedure we require you to sign the papers that are necessary and to pay the amount of 600 euro, which is the cost for a company registration.
2.What is the legal treatment of foreign investors in Bulgaria?
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.
3.How can be established an enterprise with foreign investment in Bulgaria?
As far as Bulgarian houses, villas, apartments and limited ownership rights (the right of use, the right to build a house, etc.) are concerned, you can directly purchase them as a person.
When talking about Bulgarian real estate with land, you need to set up a company that will be the owner of the property. Setting up a company in Bulgaria is relatively easy. All you need is a good solicitor or barrister at law. There are other ways to do it, like:
• Establishing a joint venture with existing local companies;
• Setting up a new venture;
• Acquiring a company through privatization;
4. How can be established an enterprise with foreign investment in Bulgaria?
As far as Bulgarian houses, villas, apartments and limited ownership rights (the right of use, the right to build a house, etc.) are concerned, you can directly purchase them as a person.
When talking about Bulgarian real estate with land, you need to set up a company that will be the owner of the property. Setting up a company in Bulgaria is relatively easy. All you need is a good solicitor or barrister at law. There are other ways to do it, like:
• Establishing a joint venture with existing local companies;
• Setting up a new venture;
• Acquiring a company through privatization;
5. What are the fees and commissions charged by BG Properties For All Ltd.
Agency commission: Our agency commission covers many important services which we provide for the buyer during the process of purchasing - such as: solicitor's assistance, full checks on the title deeds and the ownership, preparation of all necessary contracts, paperwork, communication costs. etc. We protect the rights of the buyer!
Other expenses: Depending on each property there are other expenses like: notary fees, tax when purchasing property, stamp duty, checks on the property ownership, etc. These additional charges are usually around 2,5-3% of the price.
Company registration fee: Our team of lawyers will fully assist you in registering your LTD company in Bulgaria. For registering a company we charge a fee of 600 Euros. Please note that the company must prepare and submit annual tax declarations as well as keep accountancy books. Therefore, we have a qualified accountant to take care about the company's books. If you do not operate with the company, meaning if you do not perform any business activity, our accountant charges 30 euro per year.
Viewing trips charges: If our company car is used for the viewing trips we charge 0.20 Euros (approx. 0.14 GBP) per km to cover the petrol charges and wear costs of the vehicle. This charge is lower than the price charged by the taxi companies in Bulgaria. This fee is non-refundable.
Managing properties: BGPropertiesForAll is offering comprehensive property management services. We could take care of the rental of your property to the maintenance. Contact us for more details.
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