Buying a Property in Bulgaria
ТО BUY A PROPERTY IN BULGARIA
Bulgaria is a member of the European Union since 2007. For аlmost 10 years the property market has changed in a very perspective and positive way. Bulgaria has got some advantages in the opportunity to serve foreign investors. Some of the advantages are as following:
- Bulgaria has got the lowest taxes in Europe – 10% corporate tax and income tax.
- Our country has got the cheapest labour.
- The country has got a very fast rate of export increasing, despite the conditions of a global economic crisis in Russia and Turkey;
- Bulgaria has got a fixed rate of the national currency.
- The country has got a stable currency board.
- There is an equality for every foreign investors to register a company in Bulgaria.
- After joining in the EU, Bulgaria has got a modern legislation harmonized with the one of European Union.
We are property lawyers in Bulgaria acting like legal advisers of many individuals and legal entities. We would like to advise our clients and foreign investors as well.
What about the taxes? The “tax estimation price” is for the purposes of real estate taxation. It usually is lower than the actual selling (purchase) price.
Most of the sellers of real estates in Bulgaria wish to sell their property on a “tax estimation price”. Everybody knows that the price is very low and the buyers has got no guarantee they will get the whole sum in the end, either. The difference is concerning the tax issue on the sale – because the sale price needs to be covered by the taxes, and the seller don’t want to pay those taxes. Sometimes sellers prefer to keep the real price, if the property is owned by several owners. Practically, the last ones are not aware of that kind of legal issues.
If you have any legal questions if you would like to buy a property in Bulgaria, or would like to know something else, do contact us. Our laywers will help you in the best way.