Purchasing in Bulgaria
A foreign citizen has the right to purchase property without land plot. For registration of the transaction it is sufficient to present a passport. For land purchasing you should register the company. The owners (non-resident aliens) have the same rights as the residents (Bulgarian citizens). This right is also applies for renting.
1.THE REGISTRATION OF THE PROPERTY PURCHASE IS :
The property more suitable for request is selected from the list.
■ The object is removed from the marketplace and it is reserved when entering the reserve sum (1,500 – 2,000 Euro)
■ The Preliminary sales contract is issued, approximately 2-3 weeks. When signing the contract 20-30% from the object cost is paid. When conclusion the Preliminary contract the term of signing the Main contract – Notarial act – is stipulated.
■ The main features are transfered into the final contract – Notarial act, which is the property document. The Notarial act of the property transfer and the certificate of ownership on the property is issued by a notary.
■ Before signing the Notarial act you should present a certificate (statement) from the register of non-encumbrance of the object.
■ A mortgage, the rights to enjoy the object by third party, different encumbrances are mentioned in the certificate.
■ After the signing and signatures the notary presents the Notarial act In the District Court.
■ The judge amends the state register of immovable property. This mark is also put in the Notarial act.
2. THE PAYMENT OF THE FULL COST OF THE OBJECT:
■ the registration of thePreliminary contract is excluded;
■ there can be a discount for the property
3. THE TAX PAYMENTS ON THE PROPERTY
While the transaction 2 quantities are mentioned:
■ tax property evaluation is the price which is specified in the transaction documents (approximately 50% of the actual cost). It is the basis for object taxation.
■ the real cost of thr transaction according to which the actual calculation are made. The state fee on the transaction and notary fees are determined on the basis of the tax assessment. They make up about 3% of the cost specified in the Notarial act. Let us consider the excample (1 Euro=1.95 lev)
■ The tax assessment of the property: 100,000 lev = 51,282 Euro
■ The state fee is 11 lev = 58 Euro
■ The tax: 2000 lev = 1025.6 Euro
■ The notary fee: 418.50 lev = 214.6 Euro
■ The total: 2529.5 lev = 1297 Euro – You should be ready to pay this sum over the paid payments.
IMPORTANT INFORMATION: The property availability does not give the right of visa-free entry the country and obtain the residence permit. But is simplifies the process of getting the visa for short-stay (90 days)
