Real estate in Bulgaria attracts with low prices and the opportunity to relax in the summer by the sea in their own housing.
In this country, foreigners can freely purchase residential and commercial real estate. No doubt, house for sale in bulgaria after completing a lead will grant an owner real estate with land. However, a foreigner who has EU citizenship can purchase land only for a legal entity. To do this, you will need to open a company in Bulgaria, for example LLC. Of course, theoretically, land can be leased from the state. The minimum lease term is four years. Law does not set the maximum limit. However, no one usually sells real estate without land.
What Rights Does A Foreigner Get After Buying A Property In Bulgaria
Owning real estate in Bulgaria provides visa benefits. The owner has the right to a multi visa for one year or more with a permitted period of stay in Bulgaria of 180 days per year. Spouses and children under the age of 18 also receive the right to a multi visa. To receive it, it is necessary to submit documents confirming the relationship.
Outsiders can also obtain a visa based on a notarial act — only it will be a one-time visa. This requires a notarized residence permit for the required period (original and copy). The purchase of local real estate for €310000 gives the right to obtain a Bulgarian residence permit.
What Responsibilities Do A Foreigner Have After Buying A Property in Bulgaria
Any property owner in Bulgaria is obliged to register for tax within two months from the date of purchase and pay two taxes: property tax and utility tax. You can pay in stages throughout the year, in four equal installments:
- the first payment — until March 31;
- the second — until June 30;
- the third — until September 30;
- the fourth — until November 30.
For the buyer it is possible to arrange one payment at once. In the latter case, the state provides a 5% discount. If you do not pay the property tax on time, the debtor will face penalties, problems with obtaining a visa and a residence permit. Moreover, malicious defaulters can have their real estate arrested and even sold to repay the debt. Read more about the content of real estate in Bulgaria.
Property Search in Bulgaria
It is easiest to study offers for real estate for sale on specialized Internet sites. Sort the offers by the parameters that are important to you, save the options you like and subscribe to updates. You can also submit a request for the selection of an object according to your requirements — realtors themselves will send you a selection of suitable options.