A Guide to Buying Property in Bulgaria

This section gives important information. If you're thinking of purchasing property in Bulgaria or visiting Bulgaria on a buying trip, please read it carefully before you go.

Choose Your Property

Select the properties you would like to view from our list and send us the reference numbers. Please note that it is not usually feasible to view more than 4 or 5 properties in one day. If we new properties come available during your visit, you will be invited to view them also.

Arrange Your Visit

We can arrange for one of our associates to meet you from your accommodation in Bulgaria and bring you to view the properties of your choice. You need to arrange your own flights and let us know your arrival time at Varna Airport (or train/coach stations). Pick up from Airport/Station and transport to your hotel can be arranged for €20. For more information on flights please contact us.

How long should you stay? That depends, of course, on your plans, but allow about 2 days to view property and 1 day to do the legal paperwork if you want to buy.

If you already have plans to be in Bulgaria, such as a package holiday to one of the Varna area resorts, then all we need to do is arrange a time for you to meet one of our representatives. All our associates staff speak English. They are friendly, with expert local knowledge, and will look after you well.

What to Bring

This is very important if you wish to buy property on your visit, so please read this section carefully. Please bring with you cash or travellers cheques in Euros (or Bulgarian Lev) to the value of 10% of each property price, plus 700 Euro company set up charge. And you will need to bring 5000 Lev (around 2550 Euro) to open your company account. This money remains yours and is only needed to open the account. Also add about 200 Euro to cover small charge for opening company bank account charge and Preliminary Contract fee, and document translation costs if required. And, of course, don't forget to bring some money to cover living and travel costs during your visit. Please note that credit cards are of little use in Bulgaria for these costs as there is a modest daily withdrawal limit on most.

Transport

Once in Bulgaria, you can hire your own car and our representative will accompany you to view without charge. Or you can hire a car from our associates with a driver for €50 per day, including petrol. Payment for this can be made to our representative. There are no other charges, such as for viewings that other agencies commonly make.

Accommodation

We can arrange accommodation for you. Either 25 EUR per person per night at your own villa (if available), or in good local hotel, which charge about 35/50 EUR per night single/double. Once you have visited your selected properties and made your selection, it is then time to set in motion the legal process.

The Legal Process

For non-residents in Bulgaria, buying property with land requires the setting up a limited liability company. This is not as daunting as it might sound and can all be done on the first visit if required. Allow a full day for these legal proceedings.

Once you have chosen which property to buy, you will instruct a Preliminary Contract to be drawn up and pay a 10% deposit. Then the lawyer checks Title. You also set up a company at a cost of €775 which requires opening a bank account (small fee applies) with the deposit of 5000 BGLev (around €2550), which can be withdrawn once the company has been formed. When the lawyer is satisfied that all is in order, the balance of the purchase price is paid plus agency fee and a land tax/Notary fee. Please note that this Land tax/Notary fee is dependant on declared value of property, which by mutual agreement between buyer and seller can sometimes be different from price entered on document of sale. The whole conveyance process takes about 3 weeks, but by giving Power of Attorney you do not have to return to complete. We then inform you that you are then the proud owner of your Bulgarian property!
Aquarius Properties recommend that you use an independent lawyer. We can refer you to an independent lawyer.

Remote Purchase

Some of the properties we have available are at such a low priced that an immediate decision and fast purchase is often required. To enable our clients to secure such bargains, we offer a way of buying quickly without visiting Bulgaria. It's called "Remote Purchase".

In this process, 10% of the purchase price is sent to us immediately and sale agreed with vendor. After checking that all is in order with the property's legal status, the solicitor sends the Preliminary Contract to the buyer (in UK or elsewhere) and very soon after, the balance is paid and sale completed in the client's name. All that is required after this is that the new owner travel to Bulgaria within a reasonable period of time to sign the Deeds and set up their company with our full assistance, if necessary. A simple and fast process that removes much of the stress from buying.

Summary of Buying Costs

Please see below for a list of the costs:

1. Purchase price
2. Land tax and Notary fee. Depends on value of property. Examples: Property value €9,000 , about €620 . Value €25,000, about €1600. For €100,000 it's €4000.
3. Agency commission of 4 % (plus VAT) or minimum of €995.
4. Preliminary Contract fee: 150 Euro approx
5. Translation of Preliminary Contract fee: 20 Euros approx
6. You can own an apartment freehold in Bulgaria however, non-nationals as individuals cannot own land in Bulgaria.

In order to purchase land non-nationals will be required to set up a company. When purchasing a property in Bulgaria, we advise our clients to get full legal advise from an independent lawyer. It is important that the concept of freehold is explained in detail to you and that you have a complete understanding of what the law in relation to this is in Bulgaria. By discussing this with you lawyer it will enable you to decide which is the best form of purchase suited to your requirements. If you don't already have a company set up in Bulgaria, then it will cost approx 775 Euro. Note that one company can own a number of properties. For daily living expenses take some Lev with you. Thomas Cook can provide this currency with a couple of days notice.