Question: Why should I choose Bulgaria?
Answer:
• 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 be first. Bulgaria is the newest hot destination for the real estate market in Europe. Its nature is beautiful and various. The Bulgarian people are hospitable and friendly, there are many opportunities for investment.

Question: What are the economy and the political situation?
Answer:
• Since 1996, Bulgaria has experienced macroeconomic stability and positive growth rates (due in part, to the introduction of a currency board in 1997) and it exists under what is now a stable parliamentary democracy, with a majority in parliament and public consensus on key social and economic priorities. Bulgaria demonstrates economic growth at 4.5% (one of the highest in Europe), annual inflation at 3.8% and strong growth figures in the tourism industry (up to10% for 2002 compared to 2001). It boasts low rates of taxation across the board and has one of the lowest cost centres in Europe, though the workforce is highly skilled and qualified. The currency is the Bulgarian Lev (1 Euro = 1.95 Lev).

Question: Is a visa or any other formalities required to enter Bulgaria?
Answer:
• Holders of valid ordinary passports from the following countries do not need visa for a visit to 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.
• Holders of valid ordinary passports from the following countries do not need visa for a visit to 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.
• For 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.
• Holders of valid ordinary passports 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.
• Holders of passports of countries not mentioned in I, II or III need a 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.

Question: Are there any restrictions for foreigners on the real estate market?
Answer: 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 Bulgarian company. The companies registered in Bulgaria are legal entities. Once you become the owner and manager of a Bulgarian company, you are in the capacity to manage the assets of the company, which can include real estate. You will be able to buy any property.

Question: If I buy a house, does this mean that I own the land too?
Answer: YES, if you become the owner of some 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.

Question: Which are the preferred types of business organizations with foreign investment?
Answer: The most common form of organization for foreign investors is a limited liability company. Other types are general partnership, limited partnership, joint stock company, sole proprietorship, joint venture, branch, holding, cooperatives, representative office. Limited liability companies, unlimited partnerships, public limited companies, limited partnerships, holdings and cooperatives are legal entities. Branches and representations are not independent legal entities: branches may engage in economic activities, they have their own property and compile a separate balance sheet; representations may not engage in economic activities.

Question: Do I have to register a company if I want to buy an apartment?
Answer: The answer is "NO". Foreign individuals can buy the buildings, but not the land. Company is needed when you want to buy the freehold.
Question: What types of limited company can be registered:
Answer: When you want to register a limited company in Bulgaria with the purpose of buying a property, there are two possible options. You could register a company with 1% Bulgarian participation, or a single proprietor limited company, which is 100% yours. With the 1% Bulgarian participation, it is granted to someone from our company, and gives us the only right to register the company and then buy the property on your behalf provided that you do not wish to travel to Bulgaria. Then after the completion of the deal, this 1% can be given back to the client with no charge for this, or we may retain it and this is often preferred by our clients. With this 1% we can manage the property while you are away taking care of all the annual taxes and fees, and cleaning it on a regular basis. In this case the process of the registration takes from two to three weeks. In the case of the single proprietor limited company, the company is 100% yours and you are the only owner. This means that if you do not intend to travel to Bulgaria, we will have to take out a power of attorney in order to register the company on your behalf and then another power of attorney to buy the property 9unless you come here to do it personally). These powers of attorney should be notarized and certifies with a special stamp called Apostil, which can be obtained only in the Ministry of Foreign Affairs in your own country. This usually takes about a week for each of the items. And that is why the procedure becomes longer. The whole process of registration can take in this case from one to two months. That is why we usually recommend to our clients to adopt the first option with the 1% Bulgarian participation so that the purchase lasts about a month. But the choice is up to you, our clients. You will eventually choose the best for you.

Question: How to view a property?
Answer:
• When you choose some of our properties, you only have to 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. You could visit our Sofia office and we will show you our data base with all properties which are available at the moment in the region that you are interested in. Our address is 86 Vitosha Boulevard, floor 5.
• We do not charge viewing trip fee. If our company car is used, we charge 0.20 EUR per kilometer to cover the petrol charges and wear costs of the vehicle. This charge is equal to the price charged by the taxi companies in Bulgaria. Most of our cars are air-conditioned. This fee is not refundable. If you want to save our transport charges we highly recommend renting a car at the most reasonable price from www.e-sixt.com.

Question: How do we travel to Bulgaria?
Answer: 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.

Question: How could I reserve a property?
Answer: If you are interested in some of our properties and you would like to reserve it, you need to place a deposit which includes: - Reservation deposit 10% of the property\\\\\\\'s selling price - Our commission. Once we receive cleared funds we will take the property off the market (we will pay 10% deposit to the vendor) for a period of 30 days. During this period of time you have to set up a company in Bulgaria and pay the rest of the amount in order to complete the deal and obtain the Title Deed.

Question: Is it necessary to come in Bulgaria to purchase a property there?
Answer: If you decide not to leave the UK and you want us to purchase your property and set up a company on your behalf then we need: a copy of your passport, your full address, the chosen name for your company, 10% deposit for the property, our company commission, the share capital of 5,000.00 BGN and 500.00 EUR (company set up fee).

Question: Is the deposit refundable if the buyer desists from purchasing?
Answer: Unfortunately we cannot offer a refund if you decide not to purchase a certain property as the deposit will have already been paid to the vendor to secure the property. If the vendor pulls out of the deal you can transfer the deposit to purchase another property offered by Bulgarian Real Estate. Our commission is non refundable.

Question: How long does the whole purchasing procedure take?
Answer: The whole procedure takes approximately one month - from deposing of the property to obtaining the Notary Deed.

Question: Could you help me if I want to renovate the property?
Answer: 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 better your property and help you to select the necessary materials from the best hypermarkets in Bulgaria which offer the best quality materials.

Question: What if I buy a plot of land and want to build a house on it?
Answer: 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.

Question: What if I want to buy a property in a certain region of Bulgaria and there are no such properties available at the moment?
Answer: We have thousands of properties in different areas in Bulgaria. If you are interested in some particular area and we do not have anything suitable for you at the moment, we send our representative for this same region and within several days we have many interesting offers for you, from which you can choose. There are no impossible things for our company. We are everywhere and we do anything for our clients.