· How shall we start our property search?

   Have a look our website and when you chse your properties, send us an email with any questions  you might have about the properties using the “More info” box . For viewings you need to arrange a trip to Bulgaria and inform us so we can arrange all the details before you arrive.

 

· What are the fees and commissions charged by Black Sea Best Invest Ltd.?

   We charge 3% of the price as agency commission or a minimum € 2000

   *Note: we charge only deals with houses and plots, apartments in the holiday complexes are free of charge - you pay only the announced price

 

· How do we see the properties that we are interested in? 
   Just notify us 1 week before you arrive in Bulgaria and we will arrange viewings to fit your schedule.  We can also arrange your accommodation and meet you at the airport.

 

· What do we need to bring with us on our first visit?
   Obviously you will need your passport, but also some Euro if you want to place a deposit immediately. (Each person can bring up to EUR 4 000 into Bulgaria without having to declare it.). We would suggest you bring some sturdy shoes if you are looking at properties in the country, as some may be less accessible than others.

 

· How do we reserve a property?
   You will need to pay a deposit (10% of the price or a minimum of EUR 1 000) which is non refundable. This ensures that the property is removed from the market and not sold to anyone else.

 

·  Is it safe to invest in Bulgarian property?

    Yes, by the following reasons:
The Bulgarian Economy is growing steadily - Strong growth in industrial production, employment and credit has resulted in high GDP growth over the last few years.
Bulgaria Property prices are relatively low.
Relative security - Bulgarians always moan about petty crime, yet crime levels in most towns and cities, including Sofia, are incomparably low by comparison with major world cities.
Low Currency risk - The Bulgarian Lev has been pegged to the Euro since its introduction at a fixed rate equivalent of 1 EUR for Lev 1.9558. From 1997 the Bulgarian Lev was pegged to the DM at a rate of 1 Bulgarian Lev for 1 DM.

·  What is the legal treatment of foreign investors in Bulgaria?

    Equal rights and position of the Bulgarian and foreign investors. Priority of the international agreements that guarantee more favorable conditions for carrying out business activities by foreign persons. Unlimited foreign participation in all forms of business activity registered in Bulgaria

·  Can foreigners acquire ownership rights?

    Foreign individuals can not own land (this is a Constitutional prohibition). However, the Foreign Investment Law removed the restrictions on acquisition of land by locally-registered companies with foreign participation. By setting up or joining a company incorporated under the Bulgarian legislation, foreign persons can acquire full land ownership rights including ownership rights on agricultural land.

·  How can I obtain property rights over real estate in Bulgaria?

    Foreign nationals and foreign legal entities may acquire ownership title over buildings and limited ownership rights over property in the Republic of Bulgaria.

 

·  How much will it cost to me to register a company in Bulgaria and buy property?

    To see all our fees, please click here

·  How can an enterprise with foreign investment be established in Bulgaria?

    Foreign investment typically assumes one of the following forms: establishing a joint venture with existing companies; acquiring a company through privatization; setting up a new (green field) venture or making a portfolio investment.

·  Which are the preferred types of business organizations with foreign investment?

    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.

· Can we pay by credit card or travelers’ cheques? 
   Travelers’ cheques are cashed only in the big towns and they are charged with high commissions. You can pay us for your property by your credit or debit card. Normal cheques take about 4 weeks to clear and they are not suitable for payments, especially for placing a deposit!

 

· Is it possible to buy without coming to Bulgaria?
   Yes, this is possible, but not always so straight forward. You will have to get documents signed and stamped in the UK. It is often easier and quicker to come to Bulgaria for a couple of days and sort everything out here. Plus, you will be able to see the property.

 

· Will we get ownership documents for the property?
    Yes, you will have title deeds in your name, or if you are buying through a company, your company’s name.

 

· What if we want to have renovations carried out on our property?
    No problem, we can recommend a complete range of professional tradesmen who will work to the budget that you set them. You just need to tell them your requirements and negotiate the different options with them.

 

· What about our company tax returns?
    Every year you have to submit your annual tax return, the same as in the UK. We have accountants that can do this for you. Our after-sales package will include this service as one of the options available to you.

 

· Do we need a visa?
    At the moment EU citizens can stay in Bulgaria for 90 days in any 6 months. For longer stays you will need to apply for a “type D” visa from any Bulgarian embassy.

 

· What about the cost of living there?
    Compared to UK prices, it is extremely cheap. A loaf of bread should be about 20 pence, a pint of lager about 55 pence, a packet of cigarettes about 70 pence. A litre of petrol is about 60 pence.
It's not possible to compare living costs in Bulgaria and Western Europe.
A few examples: House insurance is about € 100-200 per year for buildings and contents (depending on the type of house). For a € 30,000 property, insurance against theft, flood and fire costs about  € 125 per year with a decent insurance company like Allianz. For heating, there are central heating systems in the big cities: monthly costs for a 2-bedroom apartment is about € 100. In towns and villages, people use charcoal and wood, which is a cheaper way for house heating. For electricity, when used for cooking, lighting or heating water, one pays about € 30 monthly. Local and national taxes for owning a property vary greatly depending on the location, but for the capital (and most expensive area) one pays about € 150 for a 2-bed apartment.

 

· Driving a car in Bulgaria.
   There are few annual fees that must be paid every year to drive a car in our country:
Third party insurance, € 30 per year. Road tax (depending on the engine power): about € 50 per year for a 2.0 litre engine and MOT, € 12 per year. Many cars in Bulgaria are equipped with LPG systems, which is cheaper and more environmentally friendly than petrol. Bulgaria has the cheapest brand new cars in Europe. For example the new Renault Clio costs only € 6,500. Second hand vehicles of any type and brand are also widely available.

 

· Can we use our credit and debit cards when we come?
   In the bigger towns, you can use your cards, but still only in the larger shops. Your cards will be accepted at all hotels and all major petrol stations, but usually most transactions are carried out in cash.

 

· What about telephones?
    It’s not worth bringing over a UK stationary phone for your new property as they will not work in Bulgaria. Mobiles will work, either with a Bulgarian SIM card or using your UK card if it is suitable.

 

· If our property is only going to be occupied for about two months of the year, do we really need to get good security for the rest of the time?
    Yes, we recommend you have special alarm system and private property protection which costs € 13-25 per month. There are some very professional companies in Bulgaria providing such services.

 

· What are the regulations for the import and export of currency for foreigners
    Persons crossing the borders of the Republic of Bulgaria in either direction must fill in and present to the customs authorities a "currency customs declaration" if they import or export more than BNG 8 000 Bulgarian Leva or the equivalent in either foreign currency or traveller's cheques (approximately EUR 4 000) and must declare the cash and/or cheques to the Customs officials upon arrival. The declaration should be submitted in three copies (items 1.1 and 1.2 of the declaration must be completed).

Travelers who would like to leave the country with the equivalent of BGN 25 000 Bulgarian Leva or more must complete a Customs declaration, on which they must state the origin of the money, and present a certificate from the Bulgarian regional internal revenue service proving they do not owe taxes, unless the sum is less than the amount originally declared when brought into the country. In the latter case, travelers must present to the customs authorities the customs declaration that was endorsed at the time of their last entry into the country; this declaration is considered to be valid for export of Bulgarian and foreign currency until the person leaves the country.