Frequently Asked Questions about Bulgaria

Frequently Asked Questions about buying property in Bulgaria

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1) Can I own land in Bulgaria

Yes, however in order to do this you must first set up a limited company in Bulgaria. This can be arranged though this website. Although the Bulgarian Government in March 2004 passed a law to enable foreigners to own land, but it will not come into force until 2014.

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2) How much are the yearly bills for a property in Bulgaria

Bulgaria presently has mains gas on the northern part of the coast slowly expanding southwards, however, the main bill is electric which is similar to the prices paid in the U.K.

Household bills:

a)Annual property tax (equivalent to UK Council Tax) based on size and location of property ranges from 50 to 100 euro (£30 to £60)
b) Electricity £0.05p per unit
c) Water £3 to £5 per month
d) Cable TV £5 per month

Annual running costs for an average house is £479

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3) What's the weather like

Bulgaria has been a popular summer tourist destination for many years. Generally the summer season runs from mid April through to late October, with temperatures rising to 35 degrees with sea temperatures reaching 23 degrees. The winters are shorter but more severe. The Black Sea coast is several degrees warmer than inland Bulgaria.

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4) Do we need a visa to travel to Bulgaria and how long can we stay

UK passport holders do not require a visa in order to visit Bulgaria for a period of 30 days. Long-term visa can be obtained from the Bulgarian Consular service in London. Visa control has been considerably relaxed between the UK and Bulgaria. For further information please contact the Bulgarian Embassy in London on 0207 584 9400 or check www.bulgarianembassy.org.uk

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5) What is the time difference between Bulgaria and the UK

Bulgaria is two hours ahead of GMT. Bulgaria follows daylight saving time in summer

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6) What are the economic prospects for Bulgaria

Following the changes in 1989 throughout Eastern Europe, Bulgaria has been going through a transition from a state-controlled economy to an open market economy. Recently the main economic indicators have stabilized. Bulgaria is likely to join the European Union in 2007. Until then the European Union is investing millions of Euro upgrading the country's infrastructure including roads and airports, as well as schemes refurbishing the historical architecture and tourist resorts. Also, new private investment will bring Bulgaria in line with its neighbouring E.U Countries in the near future.

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7) What are the typical prices like

• 1 bottle of quality wine – £2.50
• 1 large beer – 40 pence
Three course meal for two with wine – £8.50
• Quality cigarettes eg.: 20 Malboro lights 70 pence
• Petrol per litre £0.64
• a typical 3 course meal with wine for two in a good quality resturant will cost approx £10 to £15

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8) Can you tell me more about the geography

Bulgaria is roughly the same size(combined area) as England, and is located on the Balkan peninsula surrounded by the Black Sea to the east, Romania to the north, Serbia and Macedonia to the West, and Greece and Turkey to the South. This location provides numerous opportunities for easy travel to surrounding countries. However, there is plenty to see within Bulgaria itself. Bulgaria contains fertile plains and beautiful wooded mountain ranges, including the Balkan range, Rila mountains, and Rhodopes. Bulgaria has three excelent skiing resorts for winter sports. The many lakes and mountain streams and the river Danube to the northprovide excelent fishing. Places to explore include the Black Sea coast and its villages and resorts, mountain trails and ski resorts, and countless villages and monasteries all over the country

The capital, Sofia, has a population of 1.2 million, while Bulgaria as a whole has 8.4 million inhabitants.

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9) What are the major religions in Bulgaria

The most common religion is Christian Orthodox (86.6%). Muslims make up 13.1 % of the population, and there are small numbers of Catholics and other Christian sects and a small Jewish community in Sofia.

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10) What is the currency of Bulgaria

Bulgarian Lev (plural Leva)
Abbreviation: BGL
1 lev = 1.95583 Euros (at time of writing) most items are priced in lev and Euro.

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11) How do I telephone a Bulgarian number

To call Bulgaria from the UK, dial + 359 plus the local number. Omit the 0 from the area code. (For example, to call Veliko Turnovo from the UK, you would dial + 359-62 plus the local number; to call from within Bulgaria you would dial 062 plus the number.) Pay phones in Bulgaria take telephone cards available at kiosks and shops: orange phones take Bulfon cards and blue phones take Mobika cards.

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12) Which airport will I fly into

Bulgaria has 4 airports. Sofia is the main international airport and is undergoing expansion. Varna’s airport serves the northern area of the Black sea resorts such as Albena, Golden Beach. Borgas airport, serves the southern Black sea resorts of Sunny beach, Nessebar and Sozopol. Plovdiv is located half way between Sofia and Borgas and is mainly used for the skining resort of Pamporovo.

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13) What is the transport system like

There is a surface rail from Sofia to the coast, around Sofia is a small underground railway, which is in the process of being expanded.

Bulgaria is linked by train to Istanbul, Thessaloniki and Athens in Greece, Belgrade, Bucharest, and points on such as Budapest. Veliko Turnovo is on the route of the Orient Express from Bucharest to Istanbul.

Cars are allowed to cross any of the many border points to enter Bugaria. Any national drivers license is valid. Insurance coverage for Bulgaria is required, and can be arranged from home or purchased at the border.

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14) What is the power supply

220 volts, 50 Hz, although their mains sockets are different to the UK, they are circular and have the continental style 2 centre pins, the earth pick up is a metal strip on the outer edge of the plug.

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15) Are there any customs restrictions

Exporting works of art and other objects of historic, artistic, or scientific value is forbidden, importing cars is expensive.

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1) Do I need a visa to enter and stay in Bulgaria

1. British citizens can enter BG and stay for up to 30 days in every 6 months without the need of a visa. These stays can be extended locally, depending on circumstances. Longer stays may be arranged subject to the appropriate visa being issued.
2. (Please refer to our link with the Bulgarian website for more detailed information)

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2) How easy is it to buy property

It is easy. The client need only visit Bulgaria and have sufficient time or money. Refer to our section on "Buying in Bulgaria" for more details.

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3) Are most properties sold freehold

Yes, most houses and villas are sold with freehold, and usually about 50% of apartments and offices too.

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4) How long does it take to complete a property purchase

It takes about 4-6 weeks from the moment the client agrees the purchase price of property to the moment of the notary deed.

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5) Are there any restrictions for foreign property owners

According to Bulgarian law, foreigners can only buy buildings not land. To enable foreigners to buy land it is necessary for them to set up a company that then owns the land. When Bulgaria enters into the EU (2007) it is expected that this law will change, Currently, legislation is being placed for statute change and enactment by the constitution.

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6) How do we set up a company to own land in Bulgaria

Our lawyers will undertake the whole process for you. All you need to do is:

1. think of a name for your Bulgarian limited company
2. open a company bank account
3. deposit 5,000 Leva in the account for between 6-8 weeks
4. after the 6-8weeks the money deposited can be withdrawn
5. pay the cost of legal work; approximately £500
6. if you do not intend to employ people, then the company can be declared as (Dormant) and will not be subjected to taxes

   If it is a property is with land

7. the buyer needs to set up a company, in this case, the buyer has three different costs for establishing a company, for the real estate agency and taxes for the purchase.