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Do I need a visa to
enter and stay in Bulgaria? |
British citizens can enter BG and stay
for up to 30 days in every 6 months without the need of a visa.
These stays can be extended locally, depending on circumstances.
Longer stays may be arranged subject to the appropriate visa being
issued. (Please refer to our link with the Bulgarian website for
more detailed information)
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How difficult or
easy is it to buy property? |
It is easy. The client need only visit
BG and have sufficient time or money.
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Are most properties
sold with freehold? |
Yes, all houses and villas are
sold with freehold and most apartments too.
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How long does it
take to complete a property purchase? |
It takes about 4-6 weeks from the time
of signing
the preliminary contract to the time of receiving your
property deeds.
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Are there any
restrictions for foreign property owners? |
According to Bulgarian law, foreigners
can only buy buildings not land. To enable foreigners to buy land it
is necessary for them to set up a company that owns the land.
When Bulgaria enters into the EU it is expected that this law will
change.
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How do we set up a
company to own land in BG? |
Our lawyers will undertake the whole
process for you. All you need to do is a) name your BG limited
company, b) open a company bank account, c) deposit 3500 leva in the
account for between 6-8 weeks and d) pay the cost of legal work -
£500
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What taxes do I have to
pay? |
The taxes for each property are
different, it depends on the price of the property. The combined
State and local taxes will equate to c. 3.5% of the property
purchase price.
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What costs or taxes
will I pay if I decide to sell my property? |
1. It depends who is the owner - if the
owner is a company, the company will have corporation tax to pay and
its directors income tax.
2. If the owner is not a company, it is
possible to pay nothing to the state, providing the property is
owned for a minimum of five years.
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Is it easy /
possible to bring an English registered car to Bulgaria and leave
it there? |
Yes, you may bring your car to Bulgaria.
If you leave the country, then you must take the car with you,
or leave it at the
customs office parking. If, when you are in BG your car is
stolen you must pay VAT and import tax, on the value of the
vehicle, to the state.
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Can I take money
into and out of Bulgaria without loss? |
Yes, If your money has come into
Bulgaria legally and subject to any currency market fluctuations.
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What happens to my
property if I die? |
It will be dealt with as per your wishes
specified in your last Will of Testament, or your heir-at law will
inherit the property.
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Do I need to write a
will of testament in Bulgaria? |
You can, but it is not compulsory.
Warning:
These answers may be affected by future
changes in Bulgarian law - please double check any points critical
to your purchase of a property in Bulgaria, before committing
yourself to the purchase. In these circumstances HomeSolutionsBG does
not accept any responsibility for the accuracy of its FAQ
information.
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