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Bulgarian property lawyer

Bulgarian Property Lawyer

Selling your property in Bulgaria is not very easy, even if you have already find a buyer. That’s why you are in needs of assistance. Look for a Bulgarian property lawyer!

If you have already bought a property in Bulgaria, you need to check up if this property had been registered in all the necessary authorities. And in the Municipality Office, too.

Our law firm works as a professional Bulgarian property lawyer, as well. We support many foreigners who want to sell your real estate property in Bulgaria.

Usually, if you have a good property, is quite easy to find buyers in Bulgaria.

As property lawyers in Bulgaria, we could help you finding a buyer and getting a good price for you.

It is very important to follow the legal advices of a property lawyer so that you will save money and precious time. Our experienced Bulgarian property lawyers will help you with the documents for the selling.

First Steps

Before you sell your property in Bulgaria, you should have all the documents necessary,as well as declarations needed for a sale – prepared in advance. We assume you will need qualified property lawyers. This means, you need us.

Our property lawyers in Bulgaria are ready to assist you and protect your interests in selling your property in Bulgaria. You need just to call us or to send us an email.

Then we will be ready to start the legal procedure.

Before starting every single deal, your lawyer is obliged to check for potential legal problems.

He/she has to prepare all the documents necessary for the transfer of the ownership over this property.

We always check if there isn’t any property charges over your property you are trying to sell.

For example, encumbrances, mortgages or pledges over your property by the Tax Office or by a third party.

Usually, when our buyer signs the preliminary contract, he/she needs to leave a deposit as a percentage of the sale price of the property in Bulgaria.

When we help you finding a buyer, we require a simple power of attorney to represent you by conclusion of the preliminary contract for the purchase of the property with the buyers in Bulgaria.

Our qualified property lawyers will prepare the draft of Preliminary contract and will negotiate with the buyer concerning the transfer fees of your property.

After receiving the written confirmation for all necessary legal conditions, we sign the preliminary contract for purchase on your behalf. Then we send you a copy of it.

We are obliged to find buyer/-s and sell your property correctly.

When all the Documents are ready…

When all of the documents and declarations are done, our lawyers start preparing the Notary Deed for transferring the ownership over your property.

You can trust us – we are specialized in property sales of foreign clients in Bulgaria.

Each Bulgarian property lawyer will help you with the documentation and legal proceedings.

The next legal step to sell your property is to sign the Title Deed for the sale of your property.

We will help you by representing you at the Notary Public in Bulgaria.

The last step to complete your sale is submit the declaration with your property into the Tax Office of your municipality.

Remove the old owner’s name of the property from the Tax Register, to avoid any legal problems.

We, as property lawyers in Bulgaria will highly recommend you using our legal services to complete all this legal issues & steps.

The mentioned property legal proceedings are just for your information, if you are trying to sell a real estate property in Bulgaria.

Every single case has got its legal specifics & questions.

We strongly recommend you to use a property lawyer in Bulgaria for legal transactions, in order to save your time, money and worries.

Call us now on + 359 897 90 43 91

August 9, 2016/by lawyer

Legal advices, News, Personal

Purchase of property Bulgaria

Many clients asked in the last couple of mounts for legal support in the process of purchase of property Bulgaria

Bulgaria is a member of the European Union since 2007.

Since that moment is is very attactive to buy a property in Bulgaria.

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.

We’re also a full service law firm, meaning that our conveyancing specialists can access other expert teams across the firm like real estate, tax issues to make sure that, whatever you need, we can help.

A real estate attorney in a process of Purchase of property Bulgaria will verify that a buyer’s offer is legitimate

In the meantime as real estate attorney, we will assist in negotiating the conditions of the transaction.

They defend the buyer’s or seller’s rights by checking and assessing the paperwork, clarifying the mortgage conditions, and, if required, offering legal advice.

We hope that this post will be useful to you if you are unsure if you need to contact a property lawyer, whether you are a buyer or a seller.

Some legal steps…..

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.

Having a real estate lawyer on your side may be quite advantageous if you just have a hunch something might go wrong or if you want to make sure all of your options are covered.

With a skilled legal practitioner on your side, you can be certain that even if things go wrong, you’ll have someone looking out for your best interests who can guide you through a difficult scenario.

Every real estate lawyer will be there to assist you to grasp even the most unclear words and act in your best interest, especially if you are unaware of all the legal jargon, intricacies, and probable blunders that may arise along the road.

We would like to advise our clients and foreign investors Purchase of property Bulgaria as well.

The legal 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”.

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 for Purchase of property Bulgaria

What we offer to the clients?

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.

Buying or selling a house is not as simple as giving your credit card and walking away with your new property.

Purchases of real estate are complicated legal transactions controlled by state and local regulations.

An expert real estate attorney can walk you through the process of closing on your house step by step.

To that end, here are some of the most compelling reasons why hiring a property lawyer is critical when purchasing or selling a home.

Our laywers will help you in the best way.

August 5, 2016/by lawyer

Legal advices

Mergers and Acquisitions Lawyers in Bulgaria

As a corporate and company lawyers (acquisitions lawyers) in Bulgaria, our work is connected with some company transformations. The process of mergers and acquisitions in Bulgaria is regulated by the Commerce Act. There are specific rules for public companies in Bulgaria specified in the Bulgarian Public Offerings Securities Act (POSA). Takeover bids for public companies are regulated under special conditions. As corporate and company lawyers in Bulgaria, we follow the legal procedure.

The main goal for company mergers and acquisitions is creating a consolidated company that benefits from the synergy of the merging companies.

Differences related to the type of company

The foreign Investors in Bulgaria need some legal advices from corporate and company lawyers when they plan, acquire or take over legal companies in Bulgaria. They must know that there are different rules applying to specific types of companies in Bulgaria. Some company mergers and acquisitions differ for joint-stock and limited liability companies. The main differences apply to the documents necessary to be prepared for merger or acquisition, and approval with registration required. Only joint-stock companies are eligible to elect to be public or non-public tradable companies. We offer you mergers and acquisitions lawyers. You will save money and precious time. Our experience lawyers make us proud and convinced that we are one of the best law firm in Bulgaria.

Necessary documents. Law Firm in Sofia, Plovdiv & Bansko

The Commerce Act stipulates that certain types of documents are compulsory for mergers and acquisitions in Bulgaria. Mergers and demergers require a plan for transformation, agreements, management reports, audit reports and certificates of good standing.

To transfer shares from limited liability companies in Bulgaria, a share purchase agreement and new Articles of Association are required. Transfers of shares from a joint-stock company require fewer documents in general.

As corporate & company lawyers in Bulgaria, we inform our clients that mergers and acquisitions in our country require approximately 25 business days. This depends on the type of company and the approvals and regulations required. Bulgarian laws are investor-friendly and the provisions applicable to Bulgarian investors apply to foreign investors as well.

You need legal law advices, if you are involved as a party in mergers or acquisitions. Our legal team can provide you with all legal assistance necessary. For more information, please contact us.

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June 20, 2016/by lawyer

Legal advices

Liquidation of Companies in Bulgaria

Liquidation of companies in Bulgaria

Our law office, acting as company lawyers In Bulgaria, works with many legal issues & problems. However, dissolving or liquidation a companies may be a voluntary procedure. Sometimes the decision has to be adopted by the company’s shareholders, or a company might merge with another legal entity.

The company lawyers in Bulgaria are the specialist for dissolving or liquidating a company in Bulgaria which may also be mandatory – may be the company experiences bankruptcy procedures, or a decision may be adopted by the Bulgarian court. We, as company lawyers in Bulgaria, do work also from the whole legal process of setting up a company in Bulgaria and including it in the Commercial Act of the Republic of Bulgaria. Completing of the winding up process requires undertaking certain actions and the owners may aski for the services of a law office in Bulgaria to assist with the formalities.
Regardless of the reasons which have resulted in liquidation of companies, our team of company lawyers in Bulgaria will be happy to provide assistance and legal counsels for the full duration of the procedure.

Legal steps required for dissolution and liquidation of companies in Bulgaria

The whole procedure for liquidation of a company in Bulgaria starts with accepting a decision by the shareholders of the company, or a ruling by a competent Bulgarian court. We, having a professional company lawyer in Bulgaria, move the procedure and prepare the documents on the first stage which consists the full suspension of the company operations – the stage of dissolving the company. Dissolving & Liquidation of company in Bulgaria, as a first phase is required because the company has to terminate any and all businesses and procedures before its assets are transferred to any other party.

The company liquidation in Bulgaria shall be started and dissolved with a decision of the shareholders. The legal decision for a company liquidation in Bulgaria is adopted with a majority of the shareholders (at least 75% of the company equity). Following the company decisions, the manager of the company has to notify the National Revenue Agency of this company decisions and of the start of the liquidation procedures in a Trade & Commercial Register.

Despite the fact that the company still exists for the duration of the liquidation procedure, it may not perform any business activity. Following the conclusion of the procedure, the company will no longer exist and shall be deleted from the Commercial Register of the Republic of Bulgaria.

The most relevant step in the liquidation procedure in Bulgaria, according to our Bulgarian company lawyers, is settling any and all payables and debts of the company to other parties. The assets of the company have to be divided amongst all company creditors and any remaining assets of the company shall be divided between all shareholders. This is an out-of-court procedure involving all partners in the company and all creditors.

liquidation of companies

Insolvency procedure against the company

An insolvency procedure against the company may be initiated by any other party during the liquidation procedure, if the insolvency procedure in Bulgaria has been complied with. After this procedure is finalized, a liquidator shall be appointed and the role of the liquidator is to terminate the company. The liquidator may be a former manager of the company, or any other person appointed by the Commercial Register of the Republic of Bulgaria. Our Bulgarian company lawyers are ready to prepare all the documents necessary and to submit them in the court, if the liquidation procedure is required.

The liquidator shall have the right to undertake any and all actions necessary to complete the liquidation and shall represent the company before the competent authorities. The responsibilities of the liquidator shall include, among other things:

– terminating any current deals;

– collecting debts;

– conversion of any assets into cash-at-hand;

– repaying all loans to creditors;

– preparing a balance sheet;

– terminating the company’s accounts.

Any and all new transactions during this period will only take place for converting the assets into money, or concluding any other actions related to the liquidation. A liquidation certificates shall be issued by the National Revenue Agency of the Republic of Bulgaria. This certificate of liquidation, along with the shareholder’s decision to liquidate the company, the appointment of the liquidator and a report, which details the manner for the performance of the liquidation procedure, are to be submitted to the Commercial Register. Our Bulgarian company lawyers can help you with submitting any and all of the legal documents necessary.

Finalizing the company liquidation procedure in Bulgaria

The liquidator of the company has to ensure that all creditors of the company will file their claims. The existing claims may be submitted maximum within six months after the delivery of the liquidation announcement to the creditors. After all liabilities have been settled and all assets of the company have been divided, the liquidator shall take any and all measures necessary for deleting the company from the Commercial Register in the Republic of Bulgaria.

Liquidation of a company in Bulgaria will take not more than six months, also by existing claims. Our Bulgarian company lawyer can prepare all documents necessary and suggest you a legal assistance for dissolving and liquidating the company. For more information, please feel free to contact our office on + 359 2 858 10 25 or send us an e-mail to info@lawyer-bulgaria.bg

June 8, 2016/by lawyer