Real Estate In Bulgaria: Legal Aspects Of The Purchase Of The ...

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According To the Bulgarian legislation foreign legal entities and physical persons, can buy real estate in Bulgaria in property. Acquiring a real estate object, you can legally registered at this address. Non-residents of Bulgaria after the purchase of local property, on an equal footing with local citizens, can rent out the property.

When buying a property in Bulgaria there are legal nuances, which apply only to land plots and households to acquire in ownership the land on which the facility is located property, it is necessary to register a legal entity on the territory of Bulgaria and purchased land in the property of the company. Individuals not resident in Bulgaria, the existing legislation does not have the right to purchase plots of land in property. Such rule is valid only in respect of land plots, their value is from 1 to 10% of the value of the object, this amount is always considered in the formation of the overall price of the object. You can not buy land in the property, concluding a long-lease contract at a low rent. While there are some risks, it is necessary to take into account when making a final decision. This option is ideal for those, who buy real estate for relaxing in the seasonal time, and for those who plan to stay in Bulgaria for accommodation, we recommend making land in the property.

What is necessary for the registration of a legal entity in Bulgaria

Your personal presence;

the authorized capital of about 2600 Euro, which you can withdraw from the account immediately after the registration of the firm;

700 euros for costs which include: fees in court, in the statistical office, for the production of documents for translation and legalization of passports, and for the services of a notary.

After the registration of the legal person you can conduct business activity on the territory of the Republic of Bulgaria. If you do not plan to work here, and you need to have a long-term visa ? it is best to register a representative office of a foreign company.

Registration of right of property on real estate in Bulgaria

the Notarial deed for the transfer of property and the certificate of property rights to immovable property shall be certified by a notary.

After the signing of the document of the seller and the buyer and the certification of their signatures, the notary is a notarial act to the district court. The judge makes a change in the state register of immovable property (in Russia the state registration in the Federal reserve system). It is worth noting that the mark is done and in the notary act.

Before the transaction the notary must submit an extract from the same register on the absence of ?burdens? of the object, in other words, on its purity. In the statement, you can see the presence or absence of a mortgage facility, the right to use the object property of others, a ban on the sale, open trials, etc. Check-out the same confirms the belonging of the object of the particular person ? the seller.

Also important document is the public assessment of the value of the object, which is issued by the territorial tax service. The price of the object specified in the notarial act, can not be less than this value. The mentioned prices are determined by the size of the state duty on the transaction and notary fees.

Documents for registration of real estate property in Bulgaria in property:

? for a natural person ? foreign passport

? for a legal person ? the constituent documents of the

As is usually the transaction on acquisition of real estate in Bulgaria

1. Paid reservation (if the customer?s selected object is removed from sale, the price is fixed.)

2. Conclusion of the preliminary contract is within a month from the moment of the reservation, or is combined with the reservation, it gives alienated object, fixed price, order of payment, date of the conclusion of a Notarial deed, etc.

3. The signing of the notary deed. This is a document certifying the property right to object. Is arranged after the payments between the buyer and the seller, at the Notary office operating in the area of the purchased real estate.

Notary fees and state fees paid when making a purchase-sale transaction, in the amount of make up approximately 3% of the tax evaluation of the property.

Tax valuation ? the cost of the object, calculated according to the established state standards, and which is the basis for calculation of taxes on the payment of real estate in Bulgaria. Is usually about 30-50% of the market value of the object.

throughout The transaction, from the moment of booking and prior to receiving of the Notary deed will work with You an experienced lawyer of our company. All related procedure of buying a property in Bulgaria, a consultation for our customers free of charge.

according To Bulgarian law, within two months after registration of the ownership rights to immovable property must be declared in the local tax authorities.

in Addition, under Bulgarian law, individuals and legal entities non-residents, owners of real estate in Bulgaria should be registered in the ?Register of tax ID / VAT? (this is the Bulgarian statistical office). After registration You will be given a certificate and a plastic card with tax ID / VAT with a unique ??? (single identification number).

Declaration in the tax bodies and tax ID / VAT registration is also the lawyer of our company, power of Attorney. The package of ready documents share personally in hands, or send by mail.

every Year the owners of real estate in Bulgaria should pay the real estate tax and tax for garbage collection.

Read more about buying property in Bulgaria you can find on site http://www.bg-properties.ru

Source: http://helahada.com/2012/07/real-estate-in-bulgaria-legal-aspects-of-the-purchase-of-the-property/

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