Legal aspects of the acquisition and possession of real property.
Apartment.
The legislation authorizes the purchase of apartments in a foreign individual, foreign entity, and local officials. Along with the apartment and issued the so-called ideal part of land, located under the house and the "incident" at the apartment. Typically, it ranges from 0.3 to 5 square meters. m., and is a purely conventional notion. Is not prohibited by registration of the company at the apartment and its use as an office. This applies to the flats, decorated to foreign individuals. Foreigners - the owners of the apartments have the same rights as Bulgarians, including the right to grant a lease.
Houses, hotels, restaurants and other buildings.
Acquire buildings can the same persons who are entitled to purchase and apartments. Land under the building and adjoining land sold to foreigners is prohibited. As a way out of the situation we can conclude the lease land for a long time for a nominal fee. In practice, the sale of the building in its value is always included and the cost of land. It is a minor part (up to 1 - 10%), and therefore high rents is misplaced. This option is suitable when buying a house for periodic short-comings, for example, for a summer vacation. If the buyer intends to reside permanently in Bulgaria, when purchasing a building on a private person, land a better draw on the firm. Will be drawn two notarial acts: the building and land. In the standard case when buying and building and land on one and the same person who executed a notarial act.
Buying and building and site at the firm did not cause any legal difficulties.
Land and forests.
Prohibited the sale of land and forests by foreigners. This applies to the area under construction and agricultural land. Allowed to lease plots of land without limiting its size. The minimum rental period is 4 years, maximum - not installed. Foreign firm with Bulgarian participation, ie where at least 1% of capital owned by citizens or legal entities in Bulgaria, has the right to buy land and forests. The same right has a company registered in Bulgaria, but the founders of which are foreign individuals or legal entities. For all the legal regulations they do not differ from firms established by the citizens of Bulgaria.
Removing the ban on the sale of agricultural land to foreigners in the coming years are planned. Most likely, the issue will be resolved after the entry into the EU. A similar problem also facing all the former Socialist. countries - candidates to the EU.
Clearance sale - sales
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Notarial deed of transfer of ownership and certificate of title to real property is performed by a notary, in the area to which the facility is located. After signing the document by the seller and buyer and authentication of signatures of the notary is a notarial act in the District Court. Judge for fitting makes a change of circumstances on an object in the state register of immovable property (this operation is performed in Russian BTI). Evaluation of inscribing done and in the notarial deed.
Before the transaction is a notary certificate (extract) from the same register that there is no encumbrance of the object, ie on its purity. The certificate reflects the presence or absence of a mortgage facility, the right to use the object of others, a ban on the sale, open court cases, etc. It also confirms the membership of an object a specific person - the seller.It is also important document is the state valuation of the object, which is issued by territorial tax service. The selling price of the object, specified in the title deed can not be lower than this value. Based on the sales price determined by the size of the state duty to bargain and notary fees. In total, they represent about 4 percent.
For registration of real estate purchase - a foreign individual must submit a passport when you buy a legal entity - the constituent documents of the firm.
 Additional cost 1. Value added tax - 20% .0
2. Property tax
The tax rate is the same for natural and legal persons and is 0,15% .0
The tax base for companies is the carrying value of the property, for private individuals - the price of real estate, defined territorial tax service. Tax on primary residence of individuals is reduced by 50% .0 main recognized housing, where the owner and his family live chat big year.
3. Foreigners pay a final tax of 10% .0
 Cost of maintaining the estate tax on real estate.
Subject to all properties except for the forests and cultivated agricultural land. Property owners within two months from the date of purchase - a purchase or completion of construction - are required before it declared to tax authorities. The declaration provides a detailed description of the property: a year of construction, building materials, design features, size, number of storeys, the purchase price, etc.
The tax base for companies is the carrying value of the property, for private individuals - the price of real estate, defined territorial tax service. The tax rate is the same for natural and legal persons and is 0,15% .0 For example, the property tax assessment from 40,000 levs. tax is: 40000:100 x0, 15 = 60 lv. Tax on primary residence of individuals is reduced by 50% .0 main recognized housing, where the owner and his family live chat big year.
Paid in four equal installments until March 31, 1930 June, 30 September and 30 November. Companies and individuals pay tax only once before March 31, receive a discount of 5% tax.
Rate for household waste.
Taksa set by local authorities. On residential buildings - in proportion to book value, or depending on the amount of waste. For non-residential buildings - depending on the type and number of containers for waste collection. In the case where for each individual building is not possible to determine the type and number of containers, the rate shall be proportional to the carrying value of the building. Introduced simultaneously with the tax on real estate.
The fee is the same for natural and legal persons. Private housing taxed based on its value established for property tax.
Annually until the end of January each owner of real estate tax office sends a notice of the amount of property tax and a rate for household waste. Contained therein calculations allow the taxpayer to verify the accuracy of the data and the correct amount.
Here is the size of dachshunds in some cities:
Varna - 1,69%, Plovdiv - 1,71%, Sofia - 1,77%, Sofia - BGN 1,45% 5.
In Sofia, firms and individuals who pay tax only once before March 31, did not receive a discount of 5% tax.
Example: The tax valuation of the property - 40000 lv., The rate in Plovdiv - 40000:100 x0, 21 = 84 lv.
Banks. Credits.
Mortgages in Bulgaria
The mortgage market in Bulgaria after almost 5 years of dynamic growth, was seriously injured during the global financial crisis.Many lenders have been forced to abandon their mortgage programs for foreigners, while others allow you to get a mortgage on projects that their own finances, and a list of such proposals are incredibly small.
There are opportunities for lending to Bulgarian citizens or companies registered in Bulgaria, but the 7 banks that actually provide mortgage loans to foreign purchasers of real estate to individuals, is now only 2 finance the deals with buyers from overseas, with significant limitations.
Our company regularly analyzes the market for mortgage lending in Bulgaria, as soon as possible, obtaining a mortgage to purchase real estate in Bulgaria, we will immediately report it.
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Buying property - Bulgaria