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NYD-Law is a modern Sofia based law firm specialising in Property, Commercial, Corporate, Civil Contract and Intellectual Property law.
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Mortgages in Bulgaria – Specific IssuesMORTGAGES IN BULGARIA – SPECIFIC ISSUES Taxation of the Foreign Natural Persons According to the Bulgarian Tax Legislationaxation of the foreign natural persons according to the Bulgarian Tax legislation New Procedure for Company Registration in BulgariaA new Act of the Commercial Registry shall be in force from 01.01.2008. It concerns the procedure of registration of commercial companies at the territory of Bulgaria, which procedure shall be amended at whole. This fact could be interesting for the investors who would like to carry out business activity in Bulgaria through real estate transactions.
As you are aware, after joining of Republic of Bulgaria to the European Union there are still limitations for the foreign citizens who wish to buy a land or ideal part of land in Bulgaria. They could own a land through a company registered on the territory of Republic of Bulgaria under the local requirements, which company shall be entitled to buy the property as an independent legal person. Relevant Taxes and Fees When Buying a Property in BulgariaBuying and owning a property in Bulgaria is associated with paying relevant taxes just like when buying a property in any other country.
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