Buying Property In Bulgaria

The majority of Russian citizens are interested in buying overseas property, located in the resorts of Europe. Bulgaria – one of those states, which is attractive for foreign purchases real estate. The state is located in south-eastern part of Europe and is one of the smallest states in population and area. Bulgaria is famous for its ski and Black Sea resorts, balneologic facility. A country with a long history, dating back to the mists of time, rich culture and traditions. Bulgaria from 01.01.07 in the European Union, buying property in Bulgaria, owner facilitates currently a Schengen visa, which allows movement in the cities of Europe. According to Bulgarian legislation, any foreign citizen the right to purchase commercial or residential property. The right to acquire land sites have only a legal entity.

Land can be leased, the period which can be unlimited. Foreigners are on a par with Bulgarian citizens enjoy equal rights in real estate or putting it out. The process of investing in property in Bulgaria is as follows. After selecting the object of purchase until the buyer makes a down payment purchases, to backup and remove the object from the sale of a certain period. The cost of deposit does not exceed 10% of the property and typically ranges from 1,000 to 2,000 euros. When you purchase this amount will go into the cost of housing.

Redundancy is a guarantee that property will not be sold in the period. In case of refusal purchases made by non-refundable down payment. This is followed by the conclusion of the preliminary sales contract at the notary, which describes in detail the object of sale and the rights and obligations of the parties, purchase price, amount and intervals of payments, sanctions in the event of purchase and sale of an object, which are then transferred into the final contract. Purchase of primary residence must be accompanied by documents of permits for Construction, issued by the authorities and documents of land ownership. Secondary housing market in Bulgaria's underdeveloped and inferior in quality to the primary. In the case of buying second homes, it is due diligence and made calculation and payment of registration fees. After that, the notary is registration and certification of ownership. In signing the notarial documents, you must have only passport. The preliminary contract can not be at the request of the parties, and immediately signed the final. The final agreement be notarized. Since then, the buyer has a document on the basis of which he will receive the documents on the property. The following is a mandatory procedure for registering the purchase in court. Awaiting court decision is no more than three weeks. During the next two months should submit a declaration of acquired property to the tax office. Visa for short stay in Bulgaria for foreign nationals is issued in 6 months up to 3 months. If the investment amount exceeds 50,000 euros, deadline is extended to 12 months. Citizenship possible after their stay in the country for over 5 years.