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Bulgaria, Burgas 39, Kirill & Metodiy Str. Phones: +359 888 842 452 - English and Русский +359 896 808 393 - Русский +359 898 616 419 - Deutsch sprechen English speaking Israil, 0523514356 - Russian and עברית Hebrew E-mail: bulgproperty@abv.bg info@bulgproperty.com rotondabuild@abv.bg kitchen equipment in bulgary, Agricultural land, farming land, large plots of farmland for sale burgas, karnobat, Marinka, commercial property for sale in bansko, Property in Sandanski, business for sale in dupnitsa, Bulgaria, Property in Bourgas, Недвижимость в Бургасе, Бургас недвижимости, Сапарева баня, квартиры в болгарии, estate agents in bourgas, houses for sale in Bulgaria, Sapareva banya, Sapareva bania, agence de location appartement sandanski, Property near Plovdiv, Rodzaj nieruchomosci Domy i rezydencyje, Bu?garia, lakes for sale, bulgaria, Bulgarian real estates, Real estate in Bulgaria, Real estates in Bulgaria, cheap apartments in for sale, Bulgarian property, Rodzaj nieruchomosci Apartamenty w osrodkach turystycznych, Bulgarian property for sale, properties for sale in Bulgarian Black sea coast, Buying property in south west bulgaria, Bulgarian real estate, Bulgarian real estates, Real estate in Bulgaria, Real estates in Bulgaria overseas, villas, houses, cottages, rural house, rural villa, rural cottage, h?user in budjaka sozopol, golfplatz burgas, hot properties, country houses, dream holiday house, properties in Varna, properties in Kavarna, properties in Balchik, properties in Byala, properties in Nessebar, properties in Sunny beach, properties in Obzor, properties near Bourgas, apartments for sale, apartment in Bulgarian black sea coast with sea view, flats near the sea, flat for sale, new building, land, plots of land, land for new developments, properties in Varna, apartments for sale in Varna, Real estate in Bulgaria for all, propertis in bulgaria, makler Bulgarian real estates, Real estate in Bulgaria, Real estates in Bulgaria,Bulgarian property, Bulgarian property for sale, properties for sale in Bulgarian Black sea coast, Buying property in Bulgaria, Bulgarian real estate, Bulgarian real estates, Real estate in Bulgaria, Real estates in Bulgaria overseas, villas, houses, cottages, rural house, rural villa, rural cottage, hot properties, hot property, country houses,dream holiday house, properties in Varna, properties in Kavarna, properties in Balchik, properties in Byala, properties in Nessebar, properties in Sunny beach, properties in Obzor, properties near Bourgas, apartments for sale, apartment in Bulgarian black sea coast with sea view, flats near the sea, flat for sale, new building, land, plots of land, land for new developments, properties in Varna, apartments for sale in Varna, Real estate in Bulgaria for all, propertis in bulgaria, land for sale bulgaria Bulgarian properties, Property in bulgaria, Property Bulgary, Nekilnojamas Turtas Bulgarijoj Bulgarijoje, Ejendom Bulgarien, propri?t? en Bulgarie, Immobilien Bulgarien, Propriet? 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Contrary to recent rumours that the Bulgarian real estate market is not so attractive to foreign investors any more, Andrew Regan, a Scottish online freelance author, comments that the Bulgarian property boom shows no signs of abating. front line land for sale mandra lake, land for sale on or near kabland golf in bulgaria, buy land airport, cost of renovation in bulgaria, Properties for sale in Burgas old town, house for sale in bulgaria, school property for sale bulgaria, school buildings for sale, bulgaria sunny beach renovations, lakes for sale in bulgaria, studio for sale in nessebar, cheap land for sale in Bulgaria, transactions for buying in Bulgaria, industrial land plot kyustendil bulgaria, apartment blocks for sale, land for sale bulgaria, land near lake bulgaria, Land zu verkaufen, black sea yacht broker, real estates agency sandanski, Is bata village a good investment area to buy a house in bulgaria, bulgarian houses for sale at cheap cost, property for sale with lake in bulgaria, villas in bulgaria for sale, land by the lake in burgas, cost of building work in bulgaria, nekilnojamo turto agenturos, cheap apartments for sale in Ravda, cheap bulgaria property for sale, developing construction and investment companies Bulgaria, immo sandanski, country with cheapest agricultural land, golfplatze in burgas, building plots bourgas, south west bulgaria, immobilien Bulgaria, arable land for sale in bulgaria, bulgaria company registration nessebar, work in hotels in bulgaria english speaking people needed. Investors are particularly interested in Bulgaria, as it is believed that EU money will be spent on improving the country's infrastructure. Bulgaria has seen a great deal of political reform since the Communist era, and the government has shown solid commitment to economic improvements, with GDP growth the highest in Eastern Europe. Economic growth has also caused a vast escalation in land values, which have risen from just 20 euro a square meter to around 350 euro in some areas. The prospect of high profits has lured many individual and business investors from Britain, Ireland and Russia to buy ski and beach chalets, which can be purchased for a fraction of the price of similar properties in more traditional holiday areas such as France, Spain, Austria and Switzerland. The high price of UK properties and the recent rises in interest rates have also led UK investors to widen their search for better real estate deals. Bulgaria continues to excite investors as it is an emerging market that offers property at prices that are unobtainable in other parts of the world. It is still possible to pick up property for as little as 30 000 euros, a sum which would buy little more than a garage in the UK. Agricultural land for sale and rent in bulgaria, agricultural land for sale and rent in bulgaria, agricultural land for sale and rent in bulgaria Property in bulgaria, Property in bulgaria, Property in bulgaria, Property in bulgaria, Property in bulgaria, Property in bulgaria, Property in bulgaria |
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| HOW TO BUY |
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NOTE !!! ALL OF THE BELOW EXPLAINED PROCEDURES WILL BE EXECUTED BY BULGPROPERTY AGENTS AND SOLICITORS!
WE ARE WORKING FOR YOUR CONVENIANCE.
Bulgaria is one of the new boom countries for property investors - property is relatively inexpensive compared to neighbouring countries and certainly much better value than the developed economies of Western Europe. Buying property in Bulgaria is a relatively straightforward procedure. We've broken the process down into a few simple steps - follow these and you'll soon be the proud owner of a new property in Bulgaria!
1. Find your property. If the property seems cheap by UK standards, it may indicate that it:
- Requires significant refurbishment.
- Is built in an older style o It's located in a remote area
- Only has an outside toilet .
Many new developments, especially on the coast, are sold "off plan" which means that they are currently under construction. You need to ensure that the relevant terms and conditions are included in the preliminary contract - our legal advisor will assist you.
2. Set up a limited company: Foreigners are permitted to buy buildings in Bulgaria but not land. If you are not a Bulgarian national, we recommended setting up a limited company that will then own both the real estate and the buildings on the land.
If you are buying an apartment, it may not be necessary to form a limited company - check with the property agent whether a direct purchase is permitted. While this law is expected to change in 2014, it is also the reason why Bulgarian property is currently so inexpensive compared with other European countries.
What is a limited company?
As shareholder in a limited company you are liable for the company's financial commitments up to the value of your share in the company's registered capital ie: if the company incurs any expenses or debts your liable is limited to the full amount of your investment in the company.
Who can set up a limited company?
Essentially anyone can form a limited liability company in Bulgaria - you do not have to be Bulgarian to do so. This enables foreign nationals to purchase Bulgarian property indirectly.
How do I set up a limited company?
Before signing any agreement you should agree with all the other shareholders what commercial activities the company will be involved with and agree the structure of the company. Once you have all agreed on the nature of the business, the relevant documents for incorporation will be prepared by your legal advisor and signed by all the shareholders.
Is it possible to buy and set up a company without coming to Bulgaria?
Yes, this is possible, but not always so straight forward. You will have to get documents signed and stamped in your country. It is often easier and quicker to come to Bulgaria for a couple of days and sort everything out here. Plus, you will be able to see the property.
The money you need to register a limited company are 450 Euros.
These money are for government and court taxes and for the solicitor fee. Next you will need to open a dedicated company bank account to collect all share capital.
The minimum share capital necessary to form a limited company is 3500 levs. As well as your share capital you will be required to pay administration costs for the registration. Don't forget you will still have the money in the company. Your limited company will officially exist as soon as it is added to the Commercial Register of the district court, in the region where the company will be based. This entry is made as soon as the district court make a decision to permit the incorporation of your company.
When you submit your registration application you will need to provide the following documentation:
- Proof that each shareholder has paid into the company at least one third of the total amount of his or her financial interest, amounting to no less than 10 leva.
- Articles of incorporation
- A memorandum relating to the appointment of directors In order for any law to take effect, all Bulgarian legislation has to be published in the official Bulgarian state newspaper, the Bulgarian State Gazette. Publication of your company's entry in the commercial register is a public declaration of your formation. Finally, you will need to register your company with the National Tax Register Authority to complete the process of formation. Following registration, once you have paid your entire share capital you can withdraw funds from the company to make your property purchase. Now you've formed your company you can get on with buying your property.
3. Make sure you know about the taxes In Bulgaria, as with pretty much everywhere else, property transactions are subject to tax. It's important that you factor these charges into your financial planning.
Transfer taxes Corporate tax (10% from the begining of 2007) is the only direct tax on the transfer of property. Because you are buying the property with your company you are liable for corporate tax.
Notary fees are payable on the transfer - rates depend of the price of the property but usually are 1,5-2% from the price.
Municipal fees of 2% of market value are also payable on completion.
Lawyer`s fee.
Capital Gains Tax There is no Capital Gains Tax on the profit when your company sells the property.
Local taxes and rates Property tax is payable by anyone who owns a building or building plot. This is charged at 0.15% of the list value of the property. If the building is on a municipal or State-owned plot, the value of the plot will also be included when tax is calculated Local taxes are not payable on arable land All building owners must also pay fees for waste collection.
Value Added Tax VAT of 20% is payable on all real estate transactions except with land and lease of property is for residential use. The buyer or lessee can claim a VAT refund provide they are registered for VAT.
4. Put down a deposit on your property.
Once you've found the property you want, you will need to place a deposit to reserve it. The deposit is usually 10% of the selling price and is refunded on completion of your purchase.
At this you will usually pay a commission to the property agent who will then take the property off the market while you begin the purchase.
THE COMMISSION OF BULGPROPERTY IS 3% FROM THE PRICE BUT NOT LESS THAN 400 EUROS.
5. Sign an initial contract of sale. It will contains details of all the relevant terms and conditions, monies paid and any other information relating to the property transaction. Once this contract is signed, after checking all documents by the solicitor you can be sure that the titles deeds are valid, that any relevant licenses and permissions are taken into consideration, that any debts on the title are brought to light, and that the terms of the final contract are agreeable to both buyer and vendor.
6. Sign the Notary Act. The last step in the buying process is to sign the Notary Act - essentially an official declaration that you have agreed to buy the property. At this point any state and municipal taxes must be paid and any outstanding balance of monies must be paid to the vendor. The title deed of the property is then transferred into your company name.
Congratulations - you're now the owner of a Bulgarian property !
Bulgarian Real Estate agency Agent BulgProperty - Bourgas Builders in Burgas Bulgaria Property in Sandanski Property for sale in Bulgaria |
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Information Where is the best location to buy property in Bulgaria FAQ Sunny Beach Property Bulgaria Buying Property in Bulgaria The Cost of Living in Bulgaria Renovation of Properties in Bulgaria |
