|Frequently Asked Questions|
Why should I choose Bulgaria?
The conditions for investment in the real estates sphere in Bulgaria have never been better. Bulgaria is a country of unlimited possibilities and you must take fast decisions, because now is the time to act. Bulgaria is the newest hot destination for the real estate market in Europe. Its nature is beautiful and various. The Bulgarian people are hospitable, friendly and there are many opportunities for investment.
Is a visa or any other formalities required to enter Bulgaria?
Passport holders of the following countries do not need visa to enter Bulgaria for a period of up to 90 days, within each period of six months: Austria, Belgium, Cyprus, Denmark, Finland, France, Germany, Greece, Iceland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden.
Passport holders of the following countries do not need visa to enter Bulgaria for a period of up to 30 days within each period of six months: Andorra, Australia, Canada, Estonia, Ireland, Israel, Japan, Liechtenstein, Monaco, New Zealand, Switzerland, UK, USA, and the Vatican.
Passport holders of countries enumerated in this section, a visa is needed only if: a. their stay in Bulgaria should exceed 30 days, or b. they require multiple entry for a longer period of time or a long-term visa.
Passport holders of the following countries do not need visa to enter Bulgaria in accordance with acting international agreements: Croatia, Czech Republic, Hungary, Lithuania, Macedonia, Malta, Republic of Korea, Poland, Romania, San Marino, Slovak Republic, Slovenia, Tunisia, Yugoslavia.
Passport holders from all other countries not mentioned in I, II or III need visa to enter Bulgaria.
The processing of the visa applications can take up to 10 working days, as confirmation in each case has to be obtained from the Ministry of Foreign Affairs of the Republic of Bulgaria in Sofia.
Are there any restrictions for foreigners on the real estate market?
According to the Bulgarian legislature foreign nationals are not allowed to purchase land in Bulgaria. You would be able to buy a flat or house but not the land on which it is built. This is often inconvenient but fortunately there is a way to overcome the problem by registering a company in Bulgaria. Once you become the owner and manager of a Bulgarian company, you are in the capacity to manage the assets of the company, which includes real estate. Then you will be able to buy any property including the land.
The restriction on land ownership by non-Bulgarians will be lifted in 2014.
If I buy a house, does this mean that I own the land too?
YES, if you become the owner of a property after having registered a company, this means that you are the legal owner of its plot of land too. Subsequently, you are entitled to do whatever you wish with this property, including selling it, renting it out, etc.
Do I have to register a company if I want to buy an apartment?
No. Foreign individuals can buy the buildings, but not the land. Company is needed when you want to buy the freehold.
Do I need a solicitor and how do I find one?
It is advisable to use the help of a Bulgarian solicitor. Our company can recommend some that are well known and experienced.
How to view a property?
When you choose some of our properties, all you need to do is contact us and we will organize your entire trip. Our agent will meet you at the airport and will take you to your hotel, booked by us. We will show you our database with all properties, which are available at the moment in the region that you are interested in.
We do not charge viewing trip fee. We charge 0.20 EUR per kilometer to cover the petrol charges. All our cars are air-conditioned.
How do we travel to Bulgaria?
Direct international flights are available to the capital, Sofia, all year round. Direct charter flights to the Black Sea (Varna/Burgas) are available during the spring/summer months and can be booked through local UK travel agents
How long does the whole purchasing procedure take?
The whole procedure takes approximately one month - from deposing of the property to obtaining the Notary Deed.
Can I purchase property without coming to Bulgaria?
Yes. Although we recommend to our clients to first view the property, it is also possible to buy using power of attorney. We can represent you and organize all legal procedures on your behalf.
What happens if I do not find a property, which I like?
If in the unlikely event you do not see a property you like or decide not to purchase for whatever reason, then we can transfer your deposit to another property. There is no pressure at any time to buy. We make sure that our customers are completely satisfied with their purchase before they proceed further.
Could you help me if I want to renovate the property?
We work at a fine quality and very reasonable prices. Furthermore, we can give you an expert evaluation of the needed costs for a possible repair. We can give you advice as to how to improve your property and help you select the necessary materials from the best builder warehouses in Bulgaria, which offer the best quality materials.
What if I buy a plot of land and want to build a house on it?
We have building teams on the territory of the whole country and it will be our pleasure to assist you to build your new house. We work together with one of the best factories and the best architects in the country. They can build any type of house you want. We can prepare architectural plans, and make all the necessary calculations for you. Then we can build the house fully corresponding to your requirements and preferences.
Are Bulgarian properties easy to rent out once purchased?
As any other country, it depends on the location and attractiveness of your particular property.
The most popular regions at present are those at or around seaside resorts and skiing resorts.
What are Bulgarians like? What is their attitude to foreigners?
Generally speaking Bulgarians are very hospitable, friendly, and warmhearted. At first they may appear more serious than most Europeans, but they easily relax and open up. Most speak foreign languages, and they like foreign visitors, so they make good company. Especially taking into consideration that Bulgaria traditionally relies on its tourist industry, the attitude of Bulgarians is more than welcoming for the foreign tourist.
What is the situation concerning parking one's vehicle in Bulgaria?
Most residential buildings offer garages or parking spaces. Another option however, is to purchase a separate garage (you may want to leave your car until next season), or to rent one. Parking for short periods of time, on the other hand, is easy to find in most areas in the country.
Cost of living?
A bottle of excellent Bulgarian wine costs some 2.5 euros. Beer is under 0.50 euros a bottle. Even imported goods are at half of their Western prices.