BULGARIAN LAW OFFICE

LEGAL SERVICE AND FEES REFERRING TO PURCHASE OF REAL ESTATE IN BULGARIA. 

1. Checking the ownership over the property

2. Checking the property for encumbrance

2. Checking the building documentation – building licenses, planning permissions, etc.

3. Checking the Company, who is the Seller of property?

4.  Drafting of Preliminary Contract for the Purchase of Property in English and Bulgarian language

5. Negotiations with the Seller of the property for amendment of the Preliminary Contract for the Purchase of Property

6. Drafting of Notaries Deed and prepare all papers for the notary

7. When the clients is not in Bulgaria representing him/her at signing the Preliminary Contract, the Title Deed

8. Representing the client to the Tax Authorities and BULSTAT office at registering the purchased real estate on the name of the client

 

Price for the service:     850 Euro

Note: In case the buyer is a corporate body and the transaction is complicated, the fees are to be increased up with 50 %.

 

           9. Set up a Bulgarian company with the purpose of buying land - 750 Euro

 

Services provided by Bulgarian Independent Solicitor

with the help of Imoti Bulgarian Properties

(Procedures following the receiving the Deeds of property in Bulgaria)

Plus the exciting services in connection with the research of the property documentation the Solicitor acting on your behalf will provide and the “Closing of the deal” service.

After you have made all the payments to the Developer and everything is in order it’s time for you to receive the Deeds of the property or to “Close the deal”. The process will be very simple and painless if you give Power of attorney* to your trustee in Bulgaria or a Bulgarian Solicitor in order to represent you before the local authorities. We will be happy to offer the details of a Bulgarian Solicitor which we work with.

          *   Signing the deeds

 When it’s time for “Closing the deal“ your Trustee or Solicitor will make an appointment and together with the Developer they have to appear before the Notarius (Local government representative and witness who makes sure everything is done according the Bulgarian Law for  transferring the real estate onto the new owner name/s). The trustee or the Solicitor must present Power of attorney from you signed and legalized. When the Notarius is assured that both sides are satisfied with the deal he sign the six copies of your deeds and then both sides sign the same. After the deeds are signed all the copies are left with the Notarius in order for him to register the new deal in the local Courthouse and in a few different Government offices. For them services the Government Notarius representative is paid around 1% of the price of the property paid by your Solicitor on your behalf. In the Notarius office your Solicitor would have to pay and 2% of the property Stamp duty. When the deeds are signed the Solicitor has to present marital status declaration for every person who is on the deeds, which declaration must be signed and legalized with apostil from the Bulgarian Embassy in Dublin.

In Bulgaria the flat rate of 2% Stamp duty is paid when buying or selling property. Also the 1% Notary fee is paid in both occasions by the buyer.

 *  Collecting the deeds by your Solicitor

 In 4-5 working days your Solicitor will be able to collect the deeds after presenting before the Notarius office the Power of attorney* stating that she/he is authorised to collect the same on your behalf.

              *  Registering your property in the Land Registration Office in the local Municipal

 After the deeds been collected, the Solicitor will have to register your property within two months of the closing of the deal in the local land registry office presenting the deeds and the Power of attorney*. This is a local government registration office which is to do with collecting small tax of the owners as they own part of the building which is been build on the territory of this municipal.

The same law applies for residential and commercial properties, apartments and houses.

Together with the land tax you will be paying local bin collection and maintenance of the surrounding roads. The two taxes are to be paid once a year and the amount very from location, structure and size of the property but the % is around 0.30% of the Tax valuation of your property. For an apartment around 70 sq.m. situated in Sunny Beach area, that tax will be around € 40 per year.

 *  Registering your property for BULSTAT number

 The number which has to obtain by every foreign citizen who is buying property in Bulgaria is called Bulstat statistic number and is compulsory. The Bulgarian citizens are exempted from making this registration. The only purpose for the registration is for statistics. After applying for this number with the deeds the Solicitor will have to wait about 20 days for the Bulstat number card to be issued.

After all this is done the deeds can be send to you as you are the new owner.

The optional services with which Imoti Bulgarian Properties can assist you are as follows:

 *   Translating your deeds from Bulgarian to English

 As the deeds will be only in Bulgarian language we can offer you to make legalized translation in local translation agency. This will cost you around €50.

 *  Transferring the ownership and opening ESB batch.

When the new property has been connected with electricity the Developer has applied as the solely owner of the property paying the bills. As you are now the new owner of the property the ESB board has to register you and to open new account on your name. The process takes ten working days. We can help you as we use local representative to do this for our clients. In Bulgaria there is standard monthly charge even if you do not use electricity and is around € 4. When you are using electricity depends of the usage and is paid monthly. You can pay it directly to the ESB board, you can lodge money in advance or you can set up direct debit from your Bulgarian bank account.

 *   Opening a batch in the Water Supply company – V i K

 In Bulgaria there is water charge which depends on the usage of the same but no more than € 30 per year. In order for your property to be supplied with water and the bills to be paid you should open an account with the water supply company. You can pay the bills directly to the water board, you can lodge money in advance or you can set up direct debit from your Bulgarian bank account.

For setting the above accounts with the ESB and the Water supply board we can recommend using our local representative and through a Power of attorney* and a copy of your deeds he can do all this. It will take around 15 working days.

The documents needed from you are:

Powers of Attorney and Declarations.

What is Power of attorney and how many would I need?

§         POWER OF ATTORNEY - document which gives the legal rights to a second person to represent you legally, must be signed by you in the Bulgarian Embassy and legalized by the Bulgarian Notaries in the BG Embassy in Dublin.

Address of Bulgarian Embassy: 22 Burlington Road, Ballsbridge.

Opening days for legalization – Monday, Tuesday, Wednesday, Thursday and Friday from 9.30 am. until 12.30pm.
The fee is regulated in the Embassy and it's depend of the amount of the amount of the documents for legalization.

The main Power of attorney needed will give the right to the Solicitor to represent you before the Notaries in order to close the deal. Also we will send you marital status declaration/s to be signed in the Embassy and money laundering declaration/s. All them documents must be signed before the Notary in the Embassy together with your passports, the fee must be paid and you will need to leave with them return addressed envelope. Please address the same envelope to us or 1 Moy Glas Green, Lucan, Co. Dublin. 

All Powers of attorney are available from Imoti Bulgarian Properties when you are using the services of the Bulgarian Solicitor whom we work with.