Taking the first step to acquiring your property in Bulgaria may seem a daunting task,
but the harmonization of Bulgarian legislation with that of the European union makes the procedure of a real estate transaction in Bulgaria not much different than the procedures in other European countries.
The most significant difference is that non-Bulgarian nationals are not allowed to purchase the actual land itself.
They may however form a Bulgarian Limited Company through which the shareholders will acquire the land and thus purchase and own their property this way.
The process is relatively straight forward but involves navigating through several Bulgarian legislative procedures. An essential part of the service offered by INFOMAX is to guide you through this process using our own legal and financial team.
The costs associated with real estate transactions are however pleasingly low. As elsewhere in Europe, the transfer is the subject of Notary and Municipal fees.
These fees total approximately 3% of the value of the transaction and are paid to the municipality in which the property is located. In addition to these statutory government fees clients will incur solicitor’s costs of between 1% and 3% of the declared price of any real estate transaction.
All foreign buyers purchasing real estate property must be aware that in Bulgaria there are such terms as “tax estimation price” and “purchase price”.
The “tax estimation price” is for the purposes of real estate taxation.