Questions and answers about real estate in Bulgaria

Frequently asked questions and answers about buying property in Bulgaria. How much is property in Bulgaria, what is Act 16, how to buy land in Bulgaria, etc.

Does the property in Bulgaria give a right for a temporary residence permit?

Temporary residence permit and buying property in BulgariaUnfortunately  buying property in Bulgaria does not provide an automatic right for getting a temporary residence permit. Below we listed the cases described in the law about foreigners in Bulgaria when getting property (apartments, houses, offices, shops, etc) give this right.

What is a Notary Act for the property in Bulgaria?

What is a notary act in BulgariaA Notary Act in Bulgaria  is the only document confirming the title for the property (a house, an apartment, an office, a shop). It contains all the information about a buyer, a seller and a property: a name, a last name, an area, an address of the property, a date of the deal, any other information.

What is Act 16 for the property in Bulgaria?

Act 16The each step of the building construction in Bulgaria is completed with signing special construction documents called Act 14, Act 15. The final document is Act 16. This is the the document which confirms that the building is completely ready. All the works are completed, the building is allowed to be used, everything is ready for life.

Low price of the property in Bulgaria. Why?

Недвижимость в Болгарии недорогаяWithin last 10 years that price of the property in Bulgaria has increased, still the Bulgarian property is the cheapest in the European Union. One of the the reasons is that the growth of the prices started from a very low point.

A 65-70 m2 one bedroom apartment in Burgas or Sofia with could have been bought in 2001 just for $ 10-12 000.

Fees and taxes for the property in Bulgaria

Taxes and fees for property in BulgariaAccording to the low, all the owners of the property in Bulgaria must pay a property tax. This is related to apartments, houses, offices, etc. The owners are also to pay a garbage utilization tax from the surrounding territory. The taxes are paid in 2 parts. The first one is to be paid by the 30th of June, the second – before the 30th of October each year.

How to buy a land in Bulgaria?

A land in BulgariaTo buy a land in Bulgaria the foreigners must register a company. Only a legal entity may own a land. A type of the company does not matter, It might be LLC or any other type of the ownership. One can open and register a company in Bulgaria within 4 days. The price with all the taxes is  Euro 280.