Buying property in Bulgaria
Buying a property is one of the biggest investments of your life, and we recommend that investing in in Bulgaria is seen as a long term investment rather than for short term rewards. Alternatively if you buy for a holiday home or as lifestyle change, we believe you could reap the rewards of your investment in more ways than just financially.
Buying in Bulgaria is made simple with the correct professional assistance; otherwise it can turn out to be your worst nightmare. At Bulgarian Real Estate we pride ourselves on getting things right for customers. We won’t make any deal until all necessary documentation, including ownership and debts, has been checked and double checked by our trusted solicitor who represents you the buyer.
Who can buy a property?
Citizens of the EU
For many years the only way for a foreigner to own real estate with land in Bulgaria, was to set up a Bulgarian Limited Company (OOD), which then owns the assets. However, since January 2012 a foreigner who is a citizen of the EU is allowed to acquire the land on which a property is built in their own name. Currently there is still a restriction in terms of ownership of agricultural land.
Non EU citizens
It is necessary to set up a Bulgarian Limited Company for the purchase of property in Bulgaria if you are a non EU citizen.
Registering a Bulgarian Limited Company is a relatively simple and inexpensive process which we can assist with if necessary.
When you contact us about buying a property, we will endeavour to give as much information to you as possible to help your decision whether to view the property or not. We will send you photographs of each property that interests you, and check the current availability and price.
Once you have selected your Bulgarian property with us we will notify the owners of your intention and put your offer to them. We will negotiate between buyer and seller and once an offer has been accepted we ask that a 10% deposit is paid to hold the property and at this point we will mark the property as ‘under offer’.
We will ask the vendor to present documentation for inspection and we can retain our property solicitor in Yambol on your behalf, or if you prefer you may choose your own solicitor.
We also help the vendor with the preparation of documents to ensure that your purchase is 100% secure.
We will prepare all the necessary documents for your Company Registration application (if required).
We will plan the completion date with you and the vendor, and arrange an appointment with the notary, solicitor and interpreter for the signing of the documents.
On completion of the property purchase your property will need to be registered with various authorities and have the utilities registered in your name – see Property Related Services for more information.