Britons living in Bulgaria. Guide to Bulgaria, Sofia and Varna

Euro Property Online
1550 EUROS or 1020 GBP) deposit in a personal bank account in Bulgaria. More information about D Type visa for British citizens can be seen at ...

A long term stay permit is valid for 1 year and is issued each year. Burgas processed 1.9 million passengers in Jan-Oct while Varna traffic was at 1.5 million.News 7 October 2007Bulgaria's residential property market has recorded the world's second highest increase in prices in the2nd quarter of 2007. During each year of stay you are issued a Bulgarian Identity Card (the same ID document that each Bulgarian citizen holds). If you are away you have to authorize someone to act on your behalf and sign the deed.Notary feeThe transfer is, however, subject to notary and municipal fees. In addition, 2% of the book value of the property is paid to the municipality in which the real property is situated upon completion.Local taxes and ratesThe owner of a building or a plot is obliged to pay a real property tax. It is necessary to register the address of the foreigner in the Local Police Department for the period of time he/she is staying in the territory of Bulgaria. Most often the company is set as a Limited Liability Company (Ltd).We will prepare the necessary documentation and register a company in your name in Bulgaria. Our solicitor acts on your behalf and do all the checks regarding title deeds, permissions, licenses, debts on the title etc.Notary actThis is the final stage when you will complete the purchase and become the new owner of the property. The annual tax is equal to 0.15% of the book value of the property. The deposit is normally 10% of the selling price. The notary fees are paid on the book value of the property at varying rates, with the maximum being BGN 3,500. The state and municipal taxes must be paid and the title deed will be transferred into your name. The two airports were added to the destinations of 19 new air carriers this summer. The whole process usually takes about 1 week.Preliminary contractThe preliminary contract contains all of the agreed details and states the deposit paid. This law is under review and is expected to be abolished with Bulgaria's entry into the EU in 2007, but at present foreigners can only own land by registering a company in Bulgaria, which then acquires legal ownership of the land. You must confirm before the Notary the agreement to buy the property.