Who can buy a property?
As the laws currently stand, a foreigner is not allowed to own land in Bulgaria.
However...A foreigner can own a Bulgarian company which is a Bulgarian entity and entitled to own land.
It is not necessary to own a Bulgarian company for the purchase of an apartment or buildings where there is no land included in the sale.
Is it difficult to set up a Bulgarian company ?
No...
All you need to apply for the registration of a Bulgarian company is:
- A passport
- A company Name
- 5,000lv for the capital account
A good agent or lawyer will be able to organise all the documentation required for the registration process.
What are the risks involved in buying a property in Bulgaria?
Property ownership is subject to both Bulgarian and European laws.
A good agent will ensure that all transactions comply with these regulations and that any purchase is secure.
How can my Company / Property affairs be dealt with when I am not in Bulgaria?
It is recommended to appoint a Bulgarian representitive to manage your affairs. This is considered to be the most practical and cost effective method for absent owners.
What if my property needs renovating in my absence?
This is a common situation in Bulgaria and there are many companies offering renovation services in the owners' absence.
It is strongly recommended that you find a company or individual whom you can trust to carry out work in your absense.
How do I pay the utility bills if I'm in the UK?
With electricity and water bills, the simplest solution is to get someone you know in Bulgaria to do this for you.
Both these utility bills are paid monthly at either your local post office or through the Bank.
How can I ensure that my property is secure when I am not in Bulgaria?
Crime is low in Bulgaria..... In most cases your neighbours will look after your property for you. This works well in the village areas.
However it is possible to have a security system installed and linked to a monitoring service that delivers 2 or 3
guards to your property minutes after the alarms goes off.
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