Acquisition of Real Property Bulgaria

Posts

Documents transfer of property

Our clients choose us because they know we understand their objectives and offer them legal support by getting the documents transfer of property.

We regularly handle transactions for the world’s leading investment banks, private equity funds, hedge funds, pension funds, REITs and sovereign wealth funds.

Increasingly they are cross border, highly structured and involve sophisticated financing arrangements.

These transactions are increasingly cross-border, highly structured, and involve sophisticated financing arrangements.

We support our clients in their most critical real estate projects on an international basis, ensuring compliance with local regulations and seamless execution.

List of Documents for Transfer of Property in Bulgaria:

1. Property Title Deed (Notary Deed): This essential document proves ownership and must be signed before a notary and registered in the Registry Agency.

2. Land Registry Extract: Provides detailed information about the property, including boundaries, area, and any encumbrances.

3. Municipal Tax Assessment Certificate: Confirms that all property taxes and fees are up to date according to local municipality records.

Other Specific Documents: Depending on the property type (e.g., agricultural land, historical buildings), additional documents may be required.

Navigating the property transfer process in Bulgaria requires meticulous attention to these documents to ensure compliance with local laws and regulations, facilitating a smooth and legally secure transaction.

1. Property title documents transfer of property

Most frequent documents of ownership:

• Title Deed, registered with the Registry Agency – title deed for purchase and sale, title deed for donation, title deed for exchange, notarized statement of ascertainment;

• Deed with registration records;

• Sales Agreement executed under the Ordinance on State-Owned Properties;

• Sales Agreement, executed under the Municipal Property Act and the State-Owned Public or Municipal Real Estate Act.

2. Property Tax Evaluation Certificate – issued by the local tax office at the property domicile.

The Property Tax Evaluation Certificate has to contain an address identical to the address of the property as per the title deed.

Property co-owners may not have any outstanding debts concerning the property, which shall be indicated in the Property Tax Evaluation Certificate.

3. Certificate of Marital Status of the seller(s), indicating the marital status of all owners as of the date of acquisition of the property.

4. Marriage Certificate of the seller, if applicable.

5. This property is not acquired as marital property, it shall not be considered matrimonial property community;

6. The property has any real rights registered, in order to execute the sale transaction, the user shall abandon all the real rights, established in their favour.

The waiver has to be signed in the presence of a Notary Public and shall be registered with the Notary Public’s file.

7. In case the property is subject to partition – the document in question (contract, ruling), registered with the Registry Agency.

8. Plan of the plot, in case of transfer of land (land plot, yard or part of yard, where the property/apartment is built).

9. In case the property has been received as inheritance

10. If the seller is divorced, the court ruling dissolving the marriage in divorce shall be presented.

11. Specific cases require different documents, which follow the property history and proves the title of ownership.

12. Certificate of Burdens for the property – to be issued by the Registry Agency

13. In case the seller is unable to perform the transaction personally, he needs to appoint another person with a Power of Attorney.

This Power of Attorney shall be notarized, and both the signatures affixed and the content of this Power of Attorney shall be certified.

14.A declaration under article 25, paragraph 7 of the Notaries and Notary Practices Acts and a declaration under article 264, paragraph 1 Tax Code

15. An identity document, which confirms the identity of both the buyer and the seller

16. In case the transaction refers to transferring developed buildings – the respective documents issued by the builder/investor

17. Other documents, according to the specifics of the transaction.

Due to the diversity of documents possible, we recommend that the documents under this transaction be checked by a lawyer.

June 24, 2018/by lawyer

Legal advices, News, Personal

Registration of a branch

The dynamics of modern business relations can easy switch to another country of doing business in different settlements by registration of a branch.

If you have such a need, you are generally faced with three options for doing business:

A) register individual “subsidiaries” of trading companies and through them to carry out your business.

With this option new companies are emerging and they have separate business enterprises.

The common between them is in the owner who owns them, but in the case of third parties they are completely independent subjects;

B) to disclose retail outlets (warehouses, shops, etc.) in the different settlements, without creating new companies and operating in them.

In this situation, no new legal entity emerges – a company, the trader himself engages in legal relationships with third parties.

B) register a branch through which to separate the performance of part of your activity in a settlement other than that in which your company has its registered office.

The branch is a legal-organizational form for carrying out a business activity in which a trader (firm), through a relative separation of part of its activity, carries it out in a settlement other than that in which its seat is located.

In the internal relations, the branch is dependent on the trader and this dependence is manifested in different directions, for example in:

A) the lack of an independent firm, and the branch company includes the trader’s firm and the branch add-on;

(B) the branch is part of the trader’s business (and, if transferred, the branch is transferred).

In disputes arising out of a direct relationship with a branch, claims are brought against the firm (as may be done at the headquarters of the branch);

B) the termination of the trader also leads to the termination of the branch (the same applies when the bankruptcy is declared);

D) the branch does not compile a stand-alone balance – the branch leads commercial books as a sole trader without compiling a separate balance sheet.

Registration of a branch

Branch registration is the result of the following procedure, which includes:

1. decision on the establishment of a branch;

2. election of a branch manager;

3. Entry in the Commercial Register (TP).

The decision to register a branch is taken by the competent corporate body under the rules of the relevant commercial company:

The decision should contain a clear intention to establish a branch and its headquarters, address of management, subject of activity, manner of management.

Setting up a Bulgarian branch by a foreign company is one of the legal forms for establishment of a business presence in Bulgaria.

Usually the branch office is considered to be an alternative to being a (sole) shareholder of a Bulgarian company.

The Bulgarian branch office is not a separate legal entity but a part of the foreign company.Registration of a branch

As a result, share capital of the branch is not required and the foreign company is liable for the liabilities incurred by the branch.

Legal Representative of the Bulgarian Branch

Though the Bulgarian branch office is not a separate legal entity and appointment of a director is not required, the authorization of a legal representative of the branch is mandatory.

The representative powers of the legal representative are determined by a power of attorney granted to him by the foreign company.

Registration with the Bulgarian Commercial Register

Under Bulgarian legislation branches are required to be registered with the Bulgarian Commercial Register. The necessary documents to register a branch in Bulgaria include:

official certificate of good standing of the foreign company;

official incumbency certificate containing the particulars of the persons authorized to represent the foreign company and their representative powers (if not contained in the certificate of good standing);

resolution of the foreign company to establish a branch in Bulgaria (the persons competent to adopt such a resolution are determined by the national corporate law of the foreign company);

constituent act/articles of association of the foreign company;

notarized power of attorney granted to the legal representative of the Bulgarian branch;

notarized written consent and specimen signature of the legal representative of the Bulgarian branch;

declaration under art.13, para. 4 of the Bulgarian Commercial Register Act.

Accounting

Under the Bulgarian Commerce Act following the successful branch office registration, the branch is required to maintain its own bookkeeping as well as to prepare a balance sheet.

Taxation

Under the Bulgarian tax legislation the profit generated by a foreign company’s branch established in Bulgaria is subject to corporate income tax.

June 24, 2018/by lawyer

Legal advices

Changing manager LLC Bulgaria

Change in the manner of management and representation or change of the person (s) representing the company

A change in the management of a company may occur when two or more persons are elected in the place of a manager to represent and manage the company together or separately, as well as the appointment of a procurator.

I. In the Commercial Law an option is provided by the manager of the company aloneto request it to be removed from the Commercial Register by giving written notice to the company.

Within one month of receipt of the notification, the company must declare its release in the Commercial Register for entry.

If the company does not do so, the manager may himself file for registration the fact that is entered, whether or not another person is elected in his place. In a nutshell, in order for the manager or the liquidator to declare the deletion alone, the law provided for the existence of two prerequisites – the manager / liquidator / requested the deletion by written notification to the company and the company had not declared its deletion in within one month of receipt of the notification.

The second and more frequent reason for change of manager in OOD is

Election of a new governor after the expiry of the mandate of the old governor or
Withdrawal of the manager’s authorization at any time during his term of office,
Resignition of the manager.

Empowerment of the manager may be withdrawn at any time and his name deleted from the commercial register.

The freedom of the general assembly to free the governor at any time, respectively to elect a new governor, is imperatively regulated by the legislator, and it results from the free withdrawal of empowerment (including empowerment).

There is a complete correspondence between the possibility of the general meeting of the company to withdraw the authorization of the manager / for the dismissal of the manager / as provided in Art. 141, para. 5 of the Commercial Act, the unilateral withdrawal of the manager, with a written notification to the company. The possibility of a free change of the manager is related to the fact that the legislator did not introduce grounds for the dismissal of the manager.

Even in cases where such a foundation is provided in the company agreement, they could not overcome imperatively the art. 141, para. 4 of the CG freedom of the General Assembly to withdraw the authorization, but such grounds would have significance in the search of the manager’s responsibility.

The change of the manager of the company should be entered in the Commercial Register.

Upon the change of the current manager, it is necessary to conclude a new written contract for the assignment of the management on behalf of the company, also the general meeting must take a decision to amend the company contract if the management and representation of the company change are the essential elements of the contract.

This decision must be taken by a majority of more than three-quarters of the capital unless a majority of the company’s agreement is provided.

The decision shall be drawn up with a notary authentication of the signatures and the contents made at the same time, unless a written agreement is provided in the Articles of Association.

The decision shall be entered in the record book. In LLC, a change in the way of management most often means assigning the management of EOOD to a procurator, but it is possible to appoint a governor if the constitutive act does not exclude the possibility of appointing a third party manager.

The procedure for entry in the Commercial Register and the register of non-profit legal entities lasts three working days.

Our legal services includes:

1. Drafting & preparation of the necessary documents, according to the requirements of the Commerce Act;

2. Drafting of applications of the Registry Agency – Commercial Register and all other necessary documents;

3. Transfer & payment of Register state fee for recording changes in circumstances;

4. Transfer of all state fee for Commercial Register, bank Fees;

With our service we will save you valuable time, with our knowledge and skills we will complete the entire procedure for you at moderate competitive prices.

June 24, 2018/by lawyer

Legal advices

Purchase property in Bulgaria

Our law office D.Vladimirov & Partners provide a professional legal services to purchase property in Bulgaria.

The entire process of buying a property in Bulgaria is complicated so we need to check the ideal parts of the ownership right and also the land plot for lack of encombrances.

Once you’ve found a home you plan to buy and agreed the selling price, you will need to take the following steps:

Signing a preliminary contract and pay a deposit.
Signing the notary deed and make the final payment.

The buying process is generally straightforward and is often completed within a month. EU citizens can purchase and own property in Bulgaria in the same conditions as locals.

The process of property acquisition and disposal can be lengthy and complicated and we advise our clients on the significant commercial implications that might arise.

We advise on and draft development agreements, provide legal assistance in construction, planning and site disposal matters, fund-raising arrangements, freehold transfers and any associated due diligence reports.

We assist in the acquisition of real estate in Bulgaria and in the subsequent implementation of investment projects in the field of hotel management and tourism, golf courses, office and commercial buildings, industrial construction works in Bulgaria

Please note we are chariging you for real costs and legal fees, state fees and the tax for transferring of ownership). If a travelling out of Sofia is needed, this would be calculated additionally.Purchase property in Bulgaria

Property legal check-up

Working with many international clients & corporate, our law office D.Vladimirov & partners has created a stable legal work policy for checking of the legal status of your property in Bulgaria.

Acting as a qualified property lawyers in Bulgaria, we performing the legal check services for our clients, depending on complexity of every case in the Bulgarian property register.

We check in the Bulgarian property Register the status of the certain property and report to our clients the final results and warnings, if there are any.

This information would allow you to check whether there are any encumbrances upon your property, for which you do not know, for example: a mortgage for a loan, which is already repaid, interdiction, imposed by the tax authorities for unpaid tax obligations, or any other rights of third persons.

Bulgarian land investment no longer requires company !

As a result of the contractual obligations, undertaken by the Bulgarian government in relation to Bulgaria’s membership in the European Union, an important part of the Bulgarian law was recently changed.

From 1 January 2012 citizens of the EU are no longer prohibited to purchase Bulgarian land, which is in regulation.

Until this date they had to set up a Bulgarian company and purchase land through the established legal entity, as according to the old law only Bulgarian individuals and companies had the right to acquire Bulgarian land.

This led to many unfavourable consequences for foreign investors, such as paying additionally to a lawyer to establish a Bulgarian company, appointing an accountant for the relevant services and making other expenses, related to having and maintaining a company.

Preliminary Contract

The first stage in buying a home in Bulgaria is the signing of a preliminary contract. Your lawyer is responsible for ensuring that this is drawn up correctly and you shouldn’t rely on an estate agent to do so.

It’s important not to pay a deposit or sign a preliminary contract prior to performing an in-depth due diligence of the property.

Check that the property has the same dimensions as advertised, if there are any undisclosed encumbrances (i.e pending costs) and that all the necessary permissions and documentation are in place.

While some agents or developers will provide a properly-drawn up contract, some won’t – and unless you’re a Bulgarian-speaking lawyer you won’t be able to tell which is which!

For peace of mind it’s recommended that you have the contract drawn up or at least checked by a Bulgarian property lawyer.

There are a number of types of preliminary contract, depending on whether you’re buying an existing (built) property or a new property off plan (i.e. yet to be built or under construction).

Signing the Notary Act

Signing the notary act (sometimes referred to as the notary deed, purchase contract or final contract, which is equivalent to a title deed) is the final step in taking ownership of your property.

If you’re unable to be present at the signing, you can have your agent or lawyer sign it on your behalf if you’ve given him power of attorney.

You should always sign the notary act in person if you’re buying a brand new or off-plan property, to make sure that all the requirements of the preliminary contract have been met.

The signing of the notary act takes place in front of a notary public, who first checks that all the conditions contained in the preliminary contract have been fulfilled.

It’s normal for all parties concerned to be present when the final contract is read, signed and witnessed by the notary, including the estate agent, developer (for new or off-plan property), your lawyer and your translator.

Either party (buyer or seller) can give a representative power of attorney. In the case of an off-plan purchase, the final contract isn’t signed until the building is complete.

Find independent legal advice for purchase property in Bulgaria

Numerous property owners are now experiencing problems with their property because they did not seek independent legal advice and instead used lawyers and translators which were recommended by the estate agent or developer and they were acting for both parties.

Appoint a qualified lawyer, who is experienced in property conveyance and fully independent of anyone else involved in the transaction, eg the estate agent, vendor or developer.

If you need our legal assitance, do not hesitate to contact us immediately

May 20, 2018/by lawyer

Legal advices, News, Personal

Bulgarian construction lawyer

Our lawyers have been involved in a wide range of construction projects, from small and medium size projects, such as construction of petrol stations, to major thermal power plants as Bulgarian construction lawyer.

We provide advice to investors, developers, financing institutions and government organisations.

Our thorough appreciation of the risks involved in property development and construction ensures we work together with our clients to minimise those risks.

Issue of Certificate for rough construction, roof level, (Act 14)

This act certifies that certain stage of the construction process is reached.

More specifically, the separate floors, staircases, outdoor and indoor walls, as well as the roof of the building are completed.

During the construction process the authorities issue an acceptance of the completed works by the investor and the supervisor

The completion of construction is certified by execution of a protocol (“Act 15”) which is signed by the investor, the designer, the contractor and the supervisor.

This Certificate called Act 15, the supervisor prepares a final report on the execution of the works.

The executor of the construction works hands over the building to the investor.

Issue of Certificate for Permission for usage (Act 16) – the building is completed in full at that stage. Bulgarian construction lawyer

It is examined by government construction authorities if it corresponds to the initial architectural project about which the building permission is received.

These four stages are absolutely obligatory and a must according to the Bulgarian Construction Law

Our law office provides professional consulting services and negotiaton assistanceship bteween the foreign investors and the construction contractors.

OUR LEGAL PRACTICE – CONSTRUCTION PROCEDURES

Throughout the years of our practice in the fields of construction law.

We actively took part into the development of folowing :

A/ infrastructural projects,

B/ linear and site infrastructure projects,

C/ gas stations, environmental

D/ water projects, waste treatment facilities construction projects, etc.

We have experience at all stages of the construction process – from the proper development of a detailed zoning plan procedure, giving the frames of the future construction project.

We are also able to provide legal advice upon the necessary demolition of equipment, whose operation is terminated.

We can assist you on a wide range of construction matters including:

pre-contract and tendering advice
drafting and negotiating of contracts
planning, environmental and building regulation issues
joint ventures, investment vehicles and funding
procurement structures and construction documentation
negotiating with local planning authorities
approval of designs, issuance of construction and operational permits
dispute resolution

We are used to work in each and every step of the construction process, including demolition of lawful buildings.

Our practice includes legal advice and drafting of

various types of contracts needed for the organization and implementation of the construction process, i.e. design contracts,
EPC contracts,
design supervision contracts,
construction supervision contracts.

We represent our clients in the negotiations on the specific terms and conditions, rights, obligations in the construction process.

Our team coordinates the necessary matters with civil engineers, designers and other experts who help us deliver first class and effective legal support.

Changes in the construction law

Аfter it came into force last month, changes in the law on spatial planning, which set the functions of the Ministry of regional development

The legal act to be divided into two separate, one will govern the territory, and the other will affect the investment process in construction.

The deputy hopes that with the new changes in the law will stimulate investment in construction.

Another major problem that hinders the investments, is the lack of general development plans of municipalities.

If you have any construction legal questions or issues in Bulgaria you need an expert lawyer to protect your rights.

May 9, 2018/by lawyer

Legal advices, News, Personal

Buy a property in Bulgaria

Embarking on the journey to own a piece of real estate in Bulgaria can be an exciting prospect, but it comes with its own set of intricacies to buy a property in Bulgaria.

To ensure a smooth and secure property acquisition process, it is crucial to be well-informed about the necessary legal documents and considerations.

One of the pivotal documents in this process is the Land Registry Extract, providing a wealth of information on the land’s use, regulations, and structure.

Start the legal work, we need some essential legal documents required for property acquisition in Bulgaria include:

the Architectural Plan (for off-plan properties): Confirm approval by the local municipality and check the developer’s insurance for build defects.

We are supporting the clients for drafting the Preliminary Contract:

While not obligatory, it is typically signed before the public deed. Ensure understanding and translation if needed.

On the stage of transfer the ownerships rights for Title Deed

we verify the property’s accurate description in the deeds.

The process of acquiring property in Bulgaria commences with the selection of a suitable real estate option.

Typically, foreign investors express interest in properties located in major cities

We talks for property in the capital and other significant economic centers like Plovdiv, Varna and Burgas.

For those eyeing a property in Sofia or Burgas, our team of Bulgarian lawyers stands ready to assist throughout the purchase journey.

Starting the procedures for buying a property:

It is advisable to plan ahead and allocate time for property viewings before finalizing the purchase.

Seeking legal assistance is crucial, and engaging a Bulgarian translator can be immensely beneficial.

Our knowledgeable Bulgarian lawyers can furnish you with detailed information regarding property prices in various cities

We advise the clients and guide you through a comprehensive due diligence process to verify the property’s authenticity before committing to the purchase.

Subsequent to the deposit, a preliminary sale agreement is to be signed with the property owner.

This agreement encompasses all essential purchase conditions, offering a preview of what will be reflected in the final contract.

Key details to be included in the property purchase agreement cover aspects such as property description, price, payment methods, and other pertinent information.

Our legal experts are well-equipped to facilitate this process, ensuring a smooth and secure property acquisition experience in Bulgaria.

Legal work for Off-Plan Developments:

– Planning Permission/Visa for Design: Allows the developer to create architectural and construction plans.
– Construction Permit: Authorizes the construction process based on approved plans.
– Opening of Construction Site and Determining of Construction Line and Level.
– Certificate for Completion and Approval of Rough Construction (Act 14).
– Certificate Confirming Compliance with Statutory Rules (Act 15).
– Use Permit (Act 16): Essential for the completion of the off-plan development.

It is not recommended to purchase off-plan developments without a construction permit.

Transactions typically involve a preliminary contract and a public deed signed before a Bulgarian Notary.

Payments for off-plan properties are advised to be made in installments, tied to construction stages and statutory certification.

While this information is provided for guidance, it is not exhaustive.

Prospective buyers are urged to seek independent legal and financial advice throughout the purchasing process.

Additionally, the quality and accuracy of information from external web addresses are not guaranteed, and caution is advised.

What initiates the property purchase process in Bulgaria?

A: The process starts by selecting a suitable property in Bulgaria, with foreign investors often targeting major cities like Sofia and Burgas for real estate acquisitions.

How can lawyers in Bulgaria assist in property acquisition?

A: Our legal experts in Bulgaria offer assistance throughout the property purchase journey, aiding in transactions for properties in Sofia, Burgas, and other significant economic hubs.

Is it necessary to view the property before finalizing the purchase?

Yes, of course - It is advisable 100 % to plan ahead and allocate time for property viewings to ensure informed decision-making with property lawyer in the country.

What role does legal assistance play in the property purchase process?

A: Legal guidance is crucial for a secure transaction. Our lawyers can provide assistance, ensuring compliance with Bulgarian property laws and regulations.

How can a Bulgarian translator be beneficial in the property purchase process?

Hiring a Bulgarian translator can aid in effective communication, minimizing potential language barriers during negotiations and documentation.

Can your lawyers provide information on property prices in different Bulgarian cities?

Our legal team in Sofia, Bulgaria can furnish you with detailed information about property prices in various cities across Bulgaria.

Why is due diligence verification essential before purchasing a property?

Due diligence is crucial to verify the authenticity of the property and assess potential legal issues or encumbrances before committing to the purchase.

What does the preliminary sale agreement entail, and why is it important?

The preliminary sale agreement, signed after the deposit, outlines key purchase conditions and serves as a preview of the final agreement. It includes details such as property description, price, payment methods, and other pertinent information.

December 15, 2017/by lawyer

Legal advices, News, Personal

Real Estate Litigation

Real estate, often considered a cornerstone of financial stability and prosperity, is not without its challenges of Real Estate Litigation.

Real estate transactions can sometimes lead to disputes, necessitating legal intervention and expertise.

The legal process of resolving disputes related to property, requires a deep understanding of property laws, contracts, and regulations. In this extended article, we delve into the intricate world of real estate litigation, exploring common issues, legal remedies, and best practices for resolving disputes effectively.

Section 1: Understanding the Landscape of Real Estate Litigation

The process of litigation encompasses a broad range of disputes, including breach of contract, property disputes, landlord-tenant conflicts, boundary disputes, and construction defects. Each case is unique, requiring a tailored approach to achieve a favorable outcome.

Lawyers specializing in this procedures are well-versed in various laws, such as property laws, contract laws, and local regulations, to provide expert guidance to their clients.

Section 2:Basic issues

2.1 Breach of Contract: Real estate transactions involve intricate contracts that outline the obligations of all parties involved.

Disputes can arise if any party fails to meet their contractual obligations.

Lawyers in real estate litigation analyze these contracts meticulously to identify breaches and develop strong legal strategies for their clients.

2.2 Property Disputes: Property disputes often involve disagreements over boundaries, easements, or ownership.

Resolving these disputes requires a detailed examination of property records, land surveys, and historical documents.

Lawyers specializing in real estate litigation employ experts to establish the rightful ownership and resolve disputes efficiently.

2.3 Landlord-Tenant Conflicts: Landlord-tenant disputes are common in this situation

Issues related to lease agreements, eviction procedures, property maintenance, and security deposits require careful legal handling.

Real estate lawyers guide their clients through complex landlord-tenant laws, ensuring compliance and fair resolution.

2.4 Construction Defects:

Construction defects can lead to significant financial losses and legal battles.

Real estate litigation lawyers collaborate with construction experts to identify defects, assess liability, and pursue compensation for their clients.

This often involves negotiating with contractors, builders, and insurance companies to achieve a just resolution.

Section 3: Legal Remedies and Strategies

3.1 Negotiation and Mediation: In many legal cases, negotiation and mediation offer viable solutions. Skilled real estate lawyers leverage their negotiation expertise to facilitate discussions between parties.

Mediation, facilitated by neutral mediators, provides a structured environment for resolving disputes amicably, often saving time and resources for all parties involved.

3.2 Arbitration: Arbitration is another alternative dispute resolution method where a neutral third party reviews the evidence and makes a binding decision.

Our lawyers guide their clients through the arbitration process, presenting compelling cases to secure favorable outcomes.

3.3 Litigation and Court Proceedings: When negotiations, mediation, or arbitration fail to resolve the dispute, litigation becomes necessary.

Experienced real estate litigation attorneys prepare comprehensive legal strategies, gather evidence, and represent their clients in court. Skilled courtroom advocacy is crucial in securing favorable judgments and protecting the rights of their clients.

The process is a multifaceted legal field demanding expertise, precision, and a deep understanding of property laws.

Whether it’s resolving breach of contract issues, property disputes, landlord-tenant conflicts, or construction defects, having a knowledgeable procedures with our lawyer by your side is invaluable.

By navigating the complex terrain of real estate litigation with strategic expertise, individuals and businesses can safeguard their investments, uphold their rights, and achieve just resolutions to their disputes.

December 11, 2017/by lawyer

Legal advices, News, Personal

Property acquisition lawyer

The last 10 years Bulgaria has been accepted as a place for investments and the people start searching Property acquisition lawyer.

Our proficiency in real estate law spans well over a eighteen years.

With a legacy spanning over a century, our prowess in property law is unmatched.

We engage with our clients at every stage of their property ventures, from acquiring buildings and sites to development, portfolio amalgamation, and sales.

As legal landscapes and economic conditions evolve, we guide our clients to ensure compliance with legal requirements and leverage available opportunities to their fullest potential.

Embedded in the fabric of the property industry, our property lawyer are prolific authors, working with many foreign investors in Bulgaria.

Our senior property team members actively participate in advisory boards and committees of property industry entities, showcasing our commitment to giving back through association with development bodies.

Discover a Century of property law expertise

Many of our professionals have prior industry or government experience before joining our legal practice.

Known for our practical and solution-focused approach, we excel in advising on development structures, especially in complex scenarios involving multiple uses, various stratum lots, shared facilities, easements, and contributions to expenses.

Catering to property developers, substantial portfolio owners, government authorities, and overseas corporate investors in the Australian real estate market, our expertise extends across residential, industrial, and commercial development, as well as rural property.

### Residential, Industrial, and Commercial Development Services:

– Acquisition of sites or existing buildings
– Drafting and amendment of bylaws
– Management statements
– Development contracts and similar documents
– Contamination and flood affectation matters
– Agreements with adjoining landowners on development matters
– Commercial and retail leases
– Resale contracts and sale of leased premises to investors

### Rural Property Services:

– Acquisition of large rural holdings
– Management, agistment, and cropping agreements
– Drafting long-term agricultural leases
– Easement issues
– Water rights
– Disposal of interests in rural property

### Due Diligence for Property Acquisition and Finance:

– Assessment of risk, including likelihood and severity
– Investigation of title, including review of restrictions, easements, pre-emptive rights, and encroachments
– Supply and standard of services to the land, including relevant agreements
– Access to the property or other property, including license arrangements
– Review of planning, construction, environmental, and heritage matters
– Compliance with statutory duties
– Review of tenancies, car parking, incentive, and other occupancy agreements
– Service contracts and management agreements
– Disputes and litigation relating to the property
– Strata title matters
– Intellectual property, including access to architectural designs
– Insurance
– Depreciation, building allowance, and GST review
– Foreign investment review

### Easements and Restrictive Covenants:

– Creation, extinguishment, and variation of easements or covenants
– Easements for access, services, and construction
– Compulsory acquisition of easements and extinguishment by court order
– Litigation if required to secure a court order

### Tax Matters:

– Advice on GST matters affecting property transactions
– Stamp duty advice

In navigating the intricate world of property law, trust us as your seasoned partners for comprehensive and insightful legal support.

We closely cooperate with our clientele during every stage of property ventures, ranging from the procurement of buildings and land, all the way to their development, combining of portfolios, and eventual sale.

As the economic landscape and legal regulations shift, we provide guidance to our clients to ensure full legal compliance while also optimising the potential benefits they can reap from existing opportunities.

We are deeply woven into the property industry’s tapestry.

Our team of real estate attorneys are all esteemed authors who frequently contribute articles to various industry-related and professional periodicals.

We are often sought after to conduct workshops and deliver keynote speeches at conferences.

We take pride in being the pioneer legal firm in Australia to design an online platform for property contract exchanges, thereby transforming the mechanisms of how properties are bought and sold.

Every senior member of our real estate team holds a position on advisory boards or committees that are linked with the property sector and related entities.

We firmly believe in contributing back to the industry via our partnerships with developmental bodies.

A significant proportion of our professional workforce have had experience working within the industry or for government before becoming part of our legal practise.

December 11, 2017/by lawyer

Legal advices, News, Personal

Recovery of Unpaid Invoices

Many corporate clients comes to our office with the legal inquiry to support for Recovery of Unpaid Invoices.

Recovering unpaid invoices can be a frustrating and time-consuming affair for any business, especially when dealing with international clients.

At our firm, we recognize the critical importance of swiftly and effectively pursuing outstanding debts to maintain your cash flow and business stability.

We have tailored our Debt Recovery Service specifically to meet the needs of our commercial clients in Bulgaria, ensuring a vigorous yet cost-effective approach to debt collection.

Why choose our debt Recovery of Unpaid Invoices service ?

Our Debt Recovery Service is not an automated system;

it’s a comprehensive solution operated by a specialist team of solicitors with extensive experience in Bulgarian law.

We understand the unique challenges businesses face in debt recovery.

Expertise: Our team comprises highly skilled solicitors who are well-versed in Bulgarian debt recovery laws and practices.
Efficiency: We aim to recover debts of any size quickly, minimizing the impact on your business operations.
Cost-Effective: We provide transparent and competitive pricing to ensure that the cost of recovery does not outweigh the benefits.

Our proven debt recovery process

The legal debt recovery process is streamlined to maximize results while minimizing the time and effort required from your side.

1. Initial Step – Suprizing the debtor with freezing his assets

The process begins with the claim in the court.

The urgency and seriousness conveyed in the letter often prompt a quick response from the debtor, leading to the resolution of the debt without the need for further action.

2. The issue of legal proceedings

If the debtor fails to respond to the ‘letter before action’, we proceed by issuing a County Court claim form.

This formal legal action includes claims for the original debt, court fees, costs, and interest.

The initiation of legal proceedings often serves as a significant motivator for debtors to settle their accounts promptly.

3. Interest debt collection

We understand the importance of recovering not just the principal amount but also any interest that is due. Interest can be claimed in several ways:

Statutory Interest: Currently 10% from the due date of the invoice until Judgment.
Contractual Interest: As stipulated in your terms and conditions.

Tailored Solutions for Bulgarian Debt Recovery

We pride ourselves on providing more than just a computerised system.

Our debt recovery service is personalized to meet your specific needs, and we are committed to providing the highest level of client service.

Whether you are dealing with a single large debt or multiple smaller ones, we support you in Bulgaria.

We have the tools and expertise to ensure you recover what is owed to you, with minimum hassle and expense.

How Can We Help You?

If you are facing challenges with unpaid invoices, don’t let them drag on.

Our team is ready to act swiftly and decisively to protect your interests and improve your cash flow.

Get in Touch Today

Fill out our online form, and we’ll get back to you as soon as possible. Alternatively, speak directly to one of our debt recovery experts by calling

December 11, 2017/by lawyer

Legal advices, News, Personal

Corporate & Commercial Law in Bulgaria

Our legal team is focused as commercial law office in Bulgaria servicing mainly corporate clients in their corporate needs and legal matters in Bulgaria.

Our dedicated team of corporate law and commercial transactions lawyers assists clients on business and trading projects in Bulgaria.

The basic actities our law office are focused on the business development in the courtry, including the usual arrangements

We work on build and establish strategic relationships and partnerships.

Our work in commercial business area includes:

Establishing a legal business in Bulgaria;
Company formations & company secretarial support in Bulgaria;
Corporate restructuring in Bulgaria;
Banking & finance;
Distribution, agency, franchising subcontracting agreements; general terms and conditions in Bulgaria.

Our expert and approachable lawyers across our national offices, work together to advise our clients

The targes has been focused on boards, in-house counsel, business owners on all aspects of their legal and business needs.

In an increasingly complex world to do business in we provide simplicity and clarity.

Our commercial law solicitors, specialized in corporate commercial law will support your business and provide you with pragmatic legal solutions to the challenges and opportunities that you face.

Why choose us for commercial Law in Bulgaria ?

Our corporate law clients choose us for a variety of reasons, including:

Approach
Our clients receive expert business legal advice. Our partners are fully involved in everything we do and our approach ensures that things get done, allowing our clients to focus on running their business.
Sector knowledge
Our corporate lawyers have specialist industry knowledge across a variety of sectors, including: charities and social enterprise, education, energy law & utilities, family-owned business, healthcare, and technology.
Networks
We introduce our clients to business opportunities, buyers, corporate investors and new contacts both in the Bulgaria connect services from the network for our clients’ benefit as a crucial part of our service.
Experience
Our corporate lawyers act on over 100 transactions a year. We also have considerable experience of advising clients on their day-to-day business legal issues, including shareholder or partnership & LLP agreements and shareholder or partnership disputes.

We pride ourselves on providing a first class legal service to our commercial clients

Our legal advisors works with transparency on fees and competitive rates.

To discuss how our commercial law solicitors can help you and your business, please contact our lawyers on + 359 897 90 43 91 or send us a email office@lawyer-bulgaria.bg

December 10, 2017/by lawyer

Posts

Documents transfer of property

List of Documents for Transfer of Property in Bulgaria:

1. Property title documents transfer of property

4. Marriage Certificate of the seller, if applicable.

Registration of a branch

In the internal relations, the branch is dependent on the trader and this dependence is manifested in different directions, for example in:

Registration of a branch

Legal Representative of the Bulgarian Branch

Registration with the Bulgarian Commercial Register

Accounting

Changing manager LLC Bulgaria

The change of the manager of the company should be entered in the Commercial Register.

Purchase property in Bulgaria

Property legal check-up

Preliminary Contract

Signing the Notary Act

Find independent legal advice for purchase property in Bulgaria

Bulgarian construction lawyer

Issue of Certificate for rough construction, roof level, (Act 14)

During the construction process the authorities issue an acceptance of the completed works by the investor and the supervisor

The executor of the construction works hands over the building to the investor.

OUR LEGAL PRACTICE – CONSTRUCTION PROCEDURES

We can assist you on a wide range of construction matters including:

Changes in the construction law

Buy a property in Bulgaria

we verify the property’s accurate description in the deeds.

Starting the procedures for buying a property:

Legal work for Off-Plan Developments:

It is not recommended to purchase off-plan developments without a construction permit.

What initiates the property purchase process in Bulgaria?

How can lawyers in Bulgaria assist in property acquisition?

Is it necessary to view the property before finalizing the purchase?

What role does legal assistance play in the property purchase process?

How can a Bulgarian translator be beneficial in the property purchase process?

Can your lawyers provide information on property prices in different Bulgarian cities?

Why is due diligence verification essential before purchasing a property?

What does the preliminary sale agreement entail, and why is it important?

Real Estate Litigation

Section 1: Understanding the Landscape of Real Estate Litigation

Section 3: Legal Remedies and Strategies

The process is a multifaceted legal field demanding expertise, precision, and a deep understanding of property laws.

Property acquisition lawyer

Discover a Century of property law expertise

### Residential, Industrial, and Commercial Development Services:

### Due Diligence for Property Acquisition and Finance:

### Easements and Restrictive Covenants:

### Tax Matters:

We are deeply woven into the property industry’s tapestry.

Recovery of Unpaid Invoices

Why choose our debt Recovery of Unpaid Invoices service ?

Our proven debt recovery process

2. The issue of legal proceedings

3. Interest debt collection

How Can We Help You?

Get in Touch Today

Corporate & Commercial Law in Bulgaria

Why choose us for commercial Law in Bulgaria ?

Any more questions? Call us on + 359 897 90 43 91 !

Cookie and Privacy Settings