YOUR VIEWING TRIP

Region - Prior to your departure your choice of region or regions must be confirmed. This will ensure that Expat Bulgaria put together the most comprehensive viewing itinerary for your stay. You can expect to visit between five and ten properties per day dependant on matching your requested criteria and travelling distances.

A viewing trip is £ 35.00 per day of viewing.

Accommodation - Please confirm the number of visitors and which accommodation style is preferred. Choices of self-catering, bed & breakfast or larger hotels are all available.

**It is recommended that your first available business working day in Bulgaria is used to register your company. This will allow you to maximise the remaining time for viewing. Please read on for a full guide on the next steps of your trip.

FORMATION OF "YOUR" COMPANY

Owning a property

According to Bulgarian law foreigners can purchase houses in Bulgaria, but not the land they stand on . This legal impediment, however, is easily overcome by registering a Bulgarian company in your name. As Foreign nationals now owning a Bulgarian company you are able to purchase the land through that company.

( Note that for the purchase of flats the registering of a company is not necessary)

Forming a Company

This is a simple process, which involves registering your names, and the name you choose for your company. This will then be submitted to the Notaries (Local Court) Office. This will allow you to purchase a property and all land in full and any other properties or land you may chose to acquire from then on. Once your company has been officially registered and formed in the notary’s office all related paperwork proving ownership of a Bulgarian company would be presented to you. This process will take approximately 7 working days. All legal court papers have a blue stamp on each page; this is to prove their authenticity. An example of official stamps and sample pages of expected documents when forming a company are contained within our welcome pack which can be requested by clicking on the link below. All court papers will be written in Cyrillic but can be translated and certified for a fee of between 80 pence and £1.20 per page.

Independent Certified Interpreters Required

When signing any documentation related to the purchase of a property or land it is Bulgarian law to insist that an independent certified interpreter is present to represent your interests by fully translating all documentation into English prior to signing. An interpreter’s hourly fee is between £ 5.00 - £ 8.00 per hour (15 leva).



There are two types of LTD company in Bulgaria

ЕООД - Sole Proprietors

ООД - Joint or Multiple Proprietors

DOCUMENTS THAT WILL BE CREATED IN THE FORMATION OF A COMPANY

Document 1 Articles of Incorporations
     - This indicates what your business trades in

Document 2 Memorandum For Appointment of Company Director/s
      - Names of those purchasing

Document 3 Business Account Statement
      - Your Business bank account must show that you have the 5000lv required for company registration.

Business Bank Account

A company bank account is opened and 5000lv is deposited as the share capital. Then a bank statement is issued to verify this. This is presented at the point of registration of your company. Once the registration and formation of the company is complete the 5000lv deposited can be withdrawn and used against the purchase of the property.

All of the above documents are written and signed in front of a Public Notary, this is a Bulgarian official who will place the official stamp on all legal documents and hold a version of them in the Public Notaries office. Once the company is registered the company registration number is entered in the company register of the town in which your company has been formed.

RUN LEGAL CHECKS AGAINST THE HOME YOU WISH TO PURCHASE

Your lawyer will instruct the following checks:

• Ensure you have a "Clear Title" against the property.
• Certified copy of the Notary act assigned to the property - This is the current owner’s deeds.
• Certified and Updated Sketch of the Property.
• Proof of Mutual Eagerness to Sell - If there is more than one owner they must be able to show certified copies of a public or private agreement to sell between all parties.
• Debt Record of the Property - This shows if there is a mortgage or any other debt against the property. Once you receive a status OK and then the Preliminary Contract (Pre-sale Agreement) can be signed.
• Tax Application - The current owners must file an application for a Tax record against the property.

You must allow maximum of 10 working days for the applications above. All exchanging of monies and deeds can be processed during this time. Completion of the sale will be upon all of the above documents presented to the Notary office.

PRE_SALE AGREEMENTS CONTACT

It is optional.

The contract is read to both parties in a presence of a Certified Translator. The Terms of payments and deposit amount is agreed and both parties sign. The Pre-Sale Agreement is a preliminary contract and therefore not required to be signed in front of a Public Notary. However, the final contract will be signed at a Notary office.

FINAL CONTACT OF PURCHASE

Upon Registration of the company and in receipt of all required documents of the property the purchase can be finalised. The final contract is signed at the Public Notary Office with your Certified Translator present.

The Documents that you will have ready for completion are:

• Certified copy of the Notary act of the property
• Certified and updated copy of the sketch of the property
• Tax record of the property
• Pre-Sale Agreement (optional)
• Company Registration Result
• Statistical Number of your Company
• Social Security Number of your Company
• Tax Registration Number of your Company
• Debt Record for the Property