Bulgarian Frequently Asked Questions

Billing and Exchange Rates
Do I need a visa to travel to Bulgaria?
Legalization of British Documents for Official Use in Bulgaria
Do I need to register a Bulgarian company?
Do I need a surveyor to inspect the property ?
Refurbishing & Furnishing
Transfer fees when buying a property in Bulgaria
Transactions with land are exempt from Value Added Tax (VAT)

Billing and Exchange rates

BulgariaWise billing methods adhere to exchange rates defined by the Bulgarian National Bank. Bank transfers, cheque payments or cash in currency other than Bulgarian Lev will be invoiced according to the exchange rate BGN-Foreign currency on the day when payment is received.

National Bulgarian Bank exchange rate tariffs: http://www.bnb.bg/bnb/home.nsf/fsWebIndex?OpenFrameset

Do I need a visa to travel to Bulgaria?

Bulgarian visas are issued by the Bulgarian embassies and consulates abroad, not at the airports or t he land and sea passport control points in Bulgaria.

A visa is issued only to holders of passports or travel documents that are valid for Bulgaria, for at least 3 months after the end of the intended stay, and that contain a blank page for affixing of visa vignettes.

With effect from 1 January 2006, all children entering Bulgaria will need to have their own passport. Children included in their parents' passports will only be allowed in if the passport also contains their photograph.

Upon entry into Bulgaria, foreigners should declare in writing the purpose of their stay and the address at which they will reside. To this end they should fill in a registration form.

Nationals from EU member states will not be restricted to enter the country and reside as long as they wish as of 1 st January 2007 when Bulgaria becomes a full member of the European Union.

Holders of valid ordinary passports from the following countries do not need a visa to visit Bulgaria for up to 90 days within each period of six months:

Legalization of British Documents for Official Use in Bulgaria

Very often nationals from United Kingdom have to legalize documents of various kinds in order to purchase a real estate in Bulgaria. In most of the cases individuals have to prepare papers to register a Bulgarian company that could help them purchase land. The organization dealing with legalizations of British documents for official use in Bulgaria is the Legalization Office of the Foreign and Commonwealth Office in London. Once legalized by the Foreign and Commonwealth Office, such documents do not need further legalization by the Embassy of the Republic of Bulgaria in London.

Do I need to register a Bulgarian company?

If you are a national other than Bulgarian you'll have to register a Bulgarian company, which can be with 100% foreign ownership, in order to be able to purchase land in Bulgaria. You become the sole owner of a Bulgarian registered company and your company will be allowed to become the owner of the land you are buying. So in an indirect way you become the owner of a piece of the beautiful Bulgarian countryside. You do not have to register a company if you are buying an apartment because in these cases you are buying the right to use a percentage of the land below the block of apartments. So there is no actual transfer of ownership of that land.

Do I need a surveyor to inspect the property

For your own piece of mind you might want a certified surveyor to check the actual condition of the property they you are buying. We, as a company, are not certified as a real estate surveyor. We use third party companies and their fees may vary. If you'd like a surveyor to identify the condition of your property we can recommend a qualified surveyors, but all charges will be payable directly to them not to us.

Refurbishing & Furnishing

We can assist with refurbishing and furnishing your property. However, we do not have a set price for this. As Bulgaria's economic development is fast growing prices may change, and likewise quotes for refurbishments may vary from property to property. Once you've acquired your Bulgarian property and you tell us what you need to be done on the property, we shall be able to give you an estimate for the building work.

Transfer fees when buying a property in Bulgaria

Before you actually start buying a property in Bulgaria you must be prepared for some extra money you'll have to pay along the buying process. These are the transfer fees that most agents do not mention to you until you actually sign a binding contract for the property. Apart from the price of the property, agents' fees and company incorporation fees (where applicable,) you will also incur notary fees and a tax that is payable to the local municipality ( 2% of the market price ).

Transactions with land are exempt from Value Added Tax (VAT)

Transactions with land are exempt from VAT which is 20% in Bulgaria. All other transactions are subject to VAT. The buyer is entitled to a VAT refund, provided that you are registered for VAT purposes.

Return to top of page ^