If you cannot keep up the mortgage repayments, the Bulgarian bank could repossess your property in Bulgaria. Please also see our guide on what support British consulates can provide to British nationals abroad. After Brexit, it is unclear whether that will continue. Before you complete your property purchase you should make sure that: you have seen the Land Registry extract (кадастрална скица), available from the local Town Hall and checked the following details: For properties which are not included in the Land Register (not available for all areas) a Municipality Sketch (регулационна скица) is issued. When buying non-landed property, a company is not necessary, but is often advisable. Buying up property at prices which are less than a quarter of the equivalent in the UK at higher rates than the locals can afford pushes up prices and creates discontent. If you choose to work with a British estate agent, promoter or lawyer, check that they are qualified, reliable and have experience operating in Bulgaria. The Bulgarian tax authority is the National Revenue Agency. Property in Pamporovo Property in Pamporovo is some of the loveliest in Bulgaria and Pamporovo is one of the most attractive Bulgarian property markets. If serious fiscal frauds have occurred (such as payments taken without receipts), the controversy is likely to fall under penal law. This information is provided as a general guide and is based upon information provided to the embassy by the relevant local authorities and may be subject to change at any time with little or no notice. While a slower market could theoretically allow buyers to negotiate a better deal, fewer listings can mean greater competition for the highest quality and most sought-after homes. Advice for British people buying property in Bulgaria, including information on legal advice, fraud, residence requirements and more. You can read our guidance on buying a property abroad. British nationals who have resided legally in Bulgaria for a period of five years on the basis of holding a consecutive long-term residence permit are entitled to a permanent residence permit. About My Listings. The top five locations in Spain for buyers a… a copy of the contract, copies of payments made, copy of the bank guarantee) and state a timeframe by which you want the amount to be reimbursed. With Brexit happening today we would like to say that we are not stepping back from our duty of helping our British clients buy the best property in their favourite Bulgarian beach or ski resorts, or in our beautiful villages which they have always loved. In the UK, buying and selling property happens pretty sharpish. There are statutory stages of construction of an off-plan development which are certified by certain documents specified in the law. You can change your cookie settings at any time. Don’t worry we won’t send you spam or share your email address with anyone. A short face to face video about how Brexit will most likely affect buying property in Bulgaria and how it might affect obtaining residency. You must ensure that you declare your rental income to the Bulgarian tax authorities whether you are resident in Bulgaria or not. 2 bedroom apartment for sale . We are unable to provide any guidance on individual property purchases apart from the information and links listed below. It should be read together with the How to buy property abroad guide. In Bulgaria cases involving property fraud usually fall under civil law and therefore are settled as private disputes held by a mediator or in court. “In the event of a complete no-deal breakdown, we will have to re-register but will keep the rights we have acquired,” says Beynon. A Bulgarian notary public will be involved in preparing the contract of sale and issuing the public deeds. There are usually two property taxes to be paid: property tax and garbage collection, which are paid at the local municipality. Cadastre is the official public register showing details of ownership of the real property in a district, including boundaries and tax assessments. Don’t include personal or financial information like your National Insurance number or credit card details. Additionally, from 2014 onwards in an agreement made when Bulgaria joined the EU in 2007 foreign property buyers are now able to buy and inherit Bulgarian property directly. Be aware that tax is charged on the council’s evaluation of the property as opposed to the amount of the sale. You can find a list of accredited translators and interpreters in Bulgaria on the Bulgarian Ministry for Foreign Affairs website. To keep informed, check our Living In Europe After Brexit guide on a regular basis. In some EU countries, EU citizens are charged smaller deposits for house purchases than non-EU citizens. This section is aimed at providing information to UK citizens and their family members who are residing in Bulgaria or will arrive in Bulgaria during the transition period, provided for in the Withdrawal Agreement (until 31.12.2020) on the terms and conditions for entry and residence in the Republic of Bulgaria after Brexit. If you have any doubts, check with the bank and with your lawyer. Moving to Bulgaria was “a no brainer because we can live out here rather than just exist”, she adds, “when you’ve lived next to the M25 (under the flight path for London’s Heathrow airport), this is bliss”. The North Western Europeans have done this for decades as we see in France Spain Portugal (Madeira is an example here as well) and Italy and others and it wears thin. The Chartered Surveyors Chamber has contacts for all registered chartered surveyors. The Limited Company is not required to trade, it is . simply a requirement for owning land for non EU citizens. You should also make sure that your contract has the same terms and conditions as for all other owners. a paid-up receipt for the previous owner’s annual property tax . Check with the Land Registry to make sure the land which is going to be built on is registered to the developer you are doing business with. You will probably need to pay into the private health system there. It is strongly recommended that you choose an independent lawyer who is specialised in Bulgarian property law. The average property search budget hasn't really changed in a year – it was previously £124,313 and is now £128,231. Mix with them. The notary is a public servant who has a duty to provide you with free and impartial legal advice on all aspects of the contract before you sign. Property prices in Bulgaria have settled down from their peaks following EU accession – meaning that it’s possible to buy decent accommodation country-wide, (with the exception of a few exclusive suburbs in Sofia), for much less than you would pay in the UK for similar accommodation. Both have pre-existing medical conditions that could make private health insurance complicated and costly. Whilst a trade deal was eventually finalised in December, it seems uncertain as to how Brexit will impact overseas property owners and buyers in … Willing to buy a property in Bulgaria, but not able to travel? This will include other information such as whether the plot has any building restrictions, is in a green zone, includes a public footpath or if there are any current plans to build a motorway or other infrastructure builds etc. The website also offers a contact facility for answering inquiries from the public. If you are planning to buy an apartment which is part of a residential block, you should also check whether there are any rules set by the committee of owners that prohibit or restrict short-term letting. A full list of the bar associations around Bulgaria can be found on the website of the Bulgarian Bar Registers. But while they are critical of the UK’s Settled Status scheme which has been offered to EU nationals in Britain, there has been no ‘hostile environment’ for them here. Expenses for repairs, renovation, reconstruction and rehabilitation of the common areas, referred to in the respective decision of the General Meeting of owners are distributed among the owners of the individual units proportionately to the shares of the common parts of the building held by each individual owner. This applies to houses with gardens, all plots that are within the zoning of the settlements, apartments coming with shares of the land, offices and other commercial properties. Sofia, 12 September 2016 One of the most popular enquiries after Brexit is how expats and people who own property in Bulgaria will be affected. Company Registration Fee. British nationals wishing to obtain any further information must contact the relevant local authority. Please consider making a recurring contribution to EURACTIV Media Network for Europe. This information should not be behind a paywall, and we remain committed to providing our content for free. Please consider making a recurring, PM Costa: Blocking EU-China deal because of the US would be a ‘terrible sign’, Status Anxiety. “They are guaranteeing our pension upgrading for three years but after that we don’t know if it will be frozen.”, There is also uncertainty about how and whether their healthcare status will be affected. Of course, the owners will have to pay their water, electricity and heat bills monthly. This rural real estate is situated in a small and quiet village included in Makresh municipality, Vidin district. Buying off-plan property inevitably involves higher risk than buying re-sale property. If you believe you have been a victim of fraud and you have neither a bank guarantee nor an insurance policy from the developer, you should seek independent legal advice regarding taking criminal legal action through the courts and register a statement with the police. Little things but it means a lot.”. In practice, a usual transaction for buying off plan development has two stages: the signing of preliminary contract; and the signing of public deed before a Bulgarian Notary (Notary deed). I guess that was also nasty and evil, depriving the “indigenous Residents of their own property values”? This is particularly important and relevant when buying off-plan or direct from a developer. A quaint village street in the Gabrovo province of Bulgaria. Rent in Bulgaria on average is 74.06% lower than in the UK. For further information and feedback, please contact your local Migration office or call +359 (2) 982 4808, email: migration@mvr.bg. Help us to continue providing free, independent news from the capitals of Europe. Will Brexit make it easier or harder to buy my first property? You should check that your UK and/or Bulgarian lawyer has professional indemnity insurance. All content is available under the Open Government Licence v3.0, except where otherwise stated, Foreign, Commonwealth & Development Office, support British consulates can provide to British nationals abroad, List of English-speaking lawyers in Bulgaria, Bulgarian Ministry for Foreign Affairs website, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases, the property and land for sale match the details registered and the sellers are the registered owner(s), there are no debts or charges, such as a mortgage, on the property and/or there are no legal proceedings initiated against the property for contravention of land planning law, you have checked that planning permissions (виза за проектиране) are in order and the property is a legal build. Terms and Conditions Once you have consulted a lawyer, the first step is to write to the developer to explain that due to non-compliance with the contract, you want to rescind the contract and request that the deposits paid so far are returned, as well as the accrued interest. If you wish to discuss the matter we are pleased to offer a free initial consultation. Around a half of them live in the country permanently. Pointing to the sweeping view of the countryside from their garden, she says: “how much would you pay in the UK for that?”. Property markets are hyper-local, so while national data is useful as a snapshot, you should focus your research on the area you’re looking to buy a home. planning permission/Visa for design (виза за проектиране) – it entitles the developer to prepare architectural design and construction plans for the development in accordance with certain statutory parameters for height of the building, density of the construction, layout of the building, etc, construction permit (разрешение за строеж) – it entitles the developer to start construction process as per the approved architectural, construction and other technical plans for the property, opening of construction site and determining of construction line and level (Protocol for commencing of construction), certificate for completion and approval of rough construction (Act 14), certificate acknowledging the compliance of the construction with the statutory rules (Act 15), rescind the contract and have the deposits returned plus interest, or extend the deadline, allowing the developer to complete the property. Should you feel you are the victim or at risk of fraud, you should report this by registering a complaint with the Bulgarian police or Regional Prosecutor’s Office. Following me renobsting my house the community ate now making improvement to their own properties. At the same time, readers support in the form of recurring monthly financial contributions provides continuous support for our work enabling us to innovate. OK Bulgaria - UK based and operated Estate Agency. Buy a property abroad before Brexit and retain your EU rights. Getting the keys to our new house in Bulgaria Which countries did we consider buying in? [Georgi Gotev], Comments Print Email Facebook Twitter LinkedIn WhatsApp. This article is part of our special report Status Anxiety. INFORMATION ABOUT BREXIT. Efficacité et Transparence des Acteurs Européens 1999-2018. Under the Bulgarian Condominium Act all expenses for the management and maintenance of the common parts under the condominium ownership arrangement should be equally shared by owners, users and residents. Call us and we can arrange an online video viewing or a 360-degree virtual tour of the selected property/properties. For example if you have a property here in Bulgaria and you were marketing it for say 20,000 Euros a few months ago in the hope of getting say £15,300 in your UK bank account after a sale (using a rate of 1:3 Euros to the pound as it was a couple of months ago), you can now still achieve the same sterling value by dropping your asking price to 17,700 Euros (1.16 Euros to the pound). 03339 397829 Local call rate. You can contact us by telephone on 020 3478 1420, by email at We know our readers value our reporting, and the outpouring of support we have received since the beginning of the crisis shows that our readers are willing to step up for the journalism that they trust and value. Brief information on taxation is provided within the Living in Bulgaria guide. Bulgaria may not be associated with hordes of British expats but it is estimated that some 18,000 British people have moved to live in Bulgaria, many to take advantage of the lower cost of housing and living. If you visit these countries, visits to other EU countries will not count towards the 90-day total.” We are seeing record-breaking interest in our journalism as our pageviews have doubled in the last year. Taxation is a complex issue, and it is advisable to seek the advice of an accountant or professional tax adviser with comprehensive and up to date knowledge of both the UK and Bulgarian tax regulations. If you are planning on making a return by renting out your property on a short-term basis, it is best to seek independent legal advice and check what the rules are at the local town hall or the tourist department of the regional government before you buy. We are more confident than ever in our role bridging media, policy, and the public. We use cookies to collect information about how you use GOV.UK. Confirm that there is an architectural plan for the property approved by the local municipality. Buying power is relative, a coffee in Bulgaria costs 30 cent, it would be €3 here,” says Cullen. Bulgarians wont buy ptoperty in gypsy villages so the expats bring new life to dieing villages. Not so in Bulgaria. Sunny Beach, Burgas. This gives them a certificate known as S1, which entitles them to state healthcare paid for by the UK. At present, there is an alternative option when buying landed property - to form a Bulgarian registered company, with the buyer as sole owner and director (the buyer could choose to add other directors, e.g., his spouse). “The impact we’re worried about is on the uprating of our pension,” says Sue. Make sure that any translations are true and legal. “I don’t like what it’s (the UK) become,” says Sue. We use this information to make the website work as well as possible and improve government services. So far, the Darleys have followed the recommendations of the UK and Bulgarian governments: updating their Bulgarian ID cards – known as lichna karta –  obtaining ten-year residency permits and Bulgarian driving licenses. A full list of registered notaries public in Bulgaria there are a of. By certain documents specified in the UK and specialise in International Transactions to do so within the Living Europe... 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