Buying in Bulgaria is easy and is not more or less difficult than buying in any other foreign country. There is only one specific thing that is to be taken into consideration and it is that according to the Bulgarian Constitution and legislation foreign persons currently are prohibited from owning land and can acquire only buildings but not land on which the buildings are built.

This is easily overcome by forming a Bulgarian registered company with you being a sole owner and director.

This law is due to be removed before EU membership in 2007 and it is one of the main reasons that property prices are so attractive compared with Western Europe.

Setting up a company in Bulgaria is very easy and our solicitors will do this for you. The preferred form of business is a 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 nationals may found a private limited liability company. The minimum foundation capital is 5000 Bulgarian leva /2600 Euros/. You need to open a bank account and to deposit the initial company capital. This money can be withdrawn once the company has been formed. It usually takes up to 4 weeks for a company registration. You do not need to be present while your company is being registered as our solicitors will do this for you. All you have to do is to sign all relevant documents in English. You will be explained in details all steps and all documents that you will be signing. Charge for setting up a Ltd. Company is 550 Euros which includes all state’s, legal and solicitor’s fees.

Please find bellow the steps for buying a property:

• Visit our website
• Find a property
• Make a preliminary enquiry and get answers to all your questions
• When you are completely satisfied and sure that you really want the property place a deposit to secure your new home. The deposit is usually 10% of the asking price and a preliminary contract is signed. The deposit is nor refundable in case you pull out of the deal.
• We then do detailed checks on title documents, building permissions, debts on title, etc.
• If the property that you like to buy comes with land we start setting up a company for you.
• After the company is formed and we have made sure that the vendor is the legal owner of the property you now are ready for the final transfer of ownership.
• Make an appointment with a notary and sign the Contract of Purchase /Notary Act/
• Transfer the remainder of the funds and get the title deeds transferred to your name.
• Become a proud owner of a property in Bulgaria.

Please note that in case of off-plan developments the final Notary Act is not signed until the building is completed.

Please also note than in Bulgaria there is a Tax estimation price /similar to ratable value in UK/ which is usually several times lower than the sale price. Because of various reasons most vendors prefer that this lower price rather than the real sale price is written in Title deeds. Due to this practice there might be discrepancies between the price you are paying and the price written in title deeds and bulgarianproperties-abc.com can not be held responsible for that.