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For sale House
110000 EURO,
0 sq. m.,
Smolian District
Village of Kutela
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For sale Restaurant
145000 EURO,
140 sq. m.,
Town of Plovdiv
Centre District
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For sale Land
71500 EURO,
2000 sq. m.,
Town of Plovdiv
Hristo Smirnenski District
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For sale Three-bedroom
105900 EURO,
119 sq. m.,
Smolian District
Pamporovo
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For sale Land
199000 EURO,
13000 sq. m.,
Plovdiv District
Village of Trud
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For sale Industrial premises
130000 EURO,
0 sq. m.,
Plovdiv District
Village of Zlatitrap
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| Frequently Asked Questions |
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1. Where is Bulgaria?
Answer: Bulgaria is located in South Eastern Europe and borders the Black Sea between Romania and Turkey. The total population is about 7,8 million people with the highest concentrations living in the major cities or towns of Sofia (the capital), Plovdiv, Pleven, Stara, Zagora, Sliven, Varna and Burgas (the last two being cities at the Black Sea coast which boasts 378 km (220 miles) of sandy coastline.
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2. Why choose Bulgaria?
Answer: The appeal of this wonderful country is obvious – glorious beaches, snowy mountains, stunning countryside, not too far from the UK with more and more flights being introduced and a wealth of culture and history to enjoy. The tourist industry is booming and Bulgaria's Black Sea Coast and mountain ski resorts are popular options for both holidaymakers and investors. The improved economic conditions, political and social stability in Bulgaria over the last 3 years have brought a real boom to the prices of property in Bulgaria. Bulgaria a member of NATO since March 2004 and also an associate member of the European community, full membership is to be completed in 2007 and this is historically when the largest growth in property prices can be realised. The fact remains that one has a very obvious window of opportunity to maximise one's investment.
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3. How to get there?
Answer: Direct international flights are available to the capital, Sofia, all year round. Direct charter flights to the Black Sea (Varna/Burgas) are available during the spring/summer months and can be booked through local UK travel agents. Bulgaria is about 3 hours away.
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4. Does one need a passport or a visa?
Answer: UK passport holders do not require a visa in order to visit Bulgaria for a period of 30 days. Long-term visa (D) 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. The British Embassy in Bulgaria also provides information at www.british-embassy.bg.
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5. Can foreigners buy property in Bulgaria?
Answer: According to the Bulgarian Constitution, foreign individual persons can buy buildings but not land. Therefore the most common method for foreigners buying property in Bulgaria is to set up a company which then owns the land and the buildings. We can organize the entire process from start to finish, together with all aspects of conveyancing. We expect the law to change within the short to medium term as Bulgaria opens its doors fully in line with its expected entry into the European Union (2007). This historic restriction is one of the reasons why property in Bulgaria is so competitively priced compared to Western and Central Europe. .
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6. Is it safe to invest in Bulgaria?
Answer: Currently Bulgaria demonstrates stable and predictable macroeconomic climate with economic growth of 4,5%, annual inflation of 3,8% and strong growth in the tourism industry. That is why Bulgaria provides the best opportunity for new foreign investment.
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7. What are the preferred types of business organization with foreign investment?
Answer: 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
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8. Are there any restrictions on the extent or amount of foreign participation
in a limited company?
Answer: No, there are none.
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9. How can one register a company?
Answer: The procedure takes about two weeks. According to the Bulgarian law a minimum capital to the amount of 5 000 BGN or at least 70% (3 500 BGN) is needed which then is transferred into a company account and can be withdrawn at any time. Registration fees including solicitor fees and government fees are to be paid.
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10. How long does it take to buy a property?
Answer: Generally speaking it takes about 3 weeks to buy a property. This depends on a number of factors, not all of which are in our control. Once you have decided on a property, contact will be made with the seller or his estate agent. The terms and conditions of the sale can be negotiated very quickly. The legal title to the property can be checked at the Land Register in a day or two. Searches with the local authority, trying to confirm the uses and building permissions associated with the property also may take several days. The Preliminary Contract is then exchanged and a deposit paid. After that there is a period of a few days at least while the money transfer is arranged and any final checks made. The sale takes place in front of a Notary at an agreed date and time.
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11. What are the tendencies on the Real Estate market?
Answer: The Real Estate market in Bulgaria is very dynamic these days. Many foreigners are visiting the country in order to buy property. Mostly their interest is in summer villas and new developments in cities. Plots of land as an investment opportunity also attract a great deal of attention. Because of the strong demand prices are going up frequently and the quality of the building is gradually getting much closer to European standards.
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12. What is the weather like?
Answer: Bulgaria has long been a summer tourist destination but winter resorts are also very popular. Generally summers are longer and warmer (and guaranteed) while winters are shorter but can be more severe. The Black Sea coast is less cold in the winter and rarely sees snow. For 5 months (May - September) average temperatures are 25 degrees Celsius and often above in the peak summer period
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13. What is food like in Bulgaria?
Answer:
Bulgarian food is close to traditional European cuisine. A traditional Bulgarian menu includes bread, yogurt and milk, cheese, tomatoes, peppers, potatoes, onions, beans and fruits, grappa and red or white wine. Food specialties include:
Shopska salad - prepared from diced tomatoes, fresh cucumbers, green peppers, topped with feta cheese and seasoned with olive oil and parsley
Mlechna salad - prepared from strained yogurt seasoned with olives, crashed walnuts, finely diced garlic and parsley
Tarator - cold served soup from yogurt, fresh cucumbers, seasoned with walnuts, garlic and dill
Sirene po Shopski - feta cheese, diced tomatoes and onion topped with egg and cooked in pottery
Kebapche - minced meat rolls seasoned with traditional spices and fine herbs and barbequed
Kuyfte - minced meatballs seasoned with traditional spices and fine herbs and barbequed
Shish Kebab - grilled skewered meat, onion and peppers
Banitsa - baked pumpkin pastry filled with cheese or meet
Creme Caramel - delicious dessert prepared from fresh milk, eggs and caramelized sugar, similar to the classic French creme brulee.
Bulgaria is a renowned producer and exporter of wine to more than 70 countries in the world. On the territory of Bulgaria there are 12 wineries producing a variety of excellent wines.
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14. What religions are there?
Answer:
The majority of the Bulgarians are Bulgarian Orthodox 82.6%, Muslim 12.2%, Roman Catholic 1.7 %. Also there are some Jewish, Protestant, Gregorian Armenian and other.
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15. How big is Bulgaria?
Answer: Bulgaria is roughly the size of England, but with only about 7.5 million population.
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16. What is the Bulgarian currency?
Answer:
The country's currency is Bulgarian Lev (plural leva) – BGN. It is pegged to the Euro.
For current exchange rates here.
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17. Are credit cards commonly accepted?
Answer: Visa, MasterCard, American Express, Diners Club, Access and Airplus are all commonly accepted. They can be used for payment of all standard services in hotels, restaurants, nightclubs, shops, car rentals, travel agencies, etc. Smaller shops and restaurants often will ask one to pay in cash, though.
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18. What are the living costs in Bulgaria?
Answer: The cost of living in Bulgaria is one of its major attractions to foreigners, since it is one of the cheapest in Europe! For example the food is generally twice cheaper than UK. House insurance: around 100-200 EURO per year depending on the type of house, along with the belongings and furniture inside. For a property of price 30,000 EURO insurance against theft, flood and fire costs about 125 EURO per year with a decent insurance company like Allianz. Gas: the gas system network is not fully developed in Bulgaria yet. People mostly use electricity to cook. For heating: there are central heating systems in the big cities: monthly costs for a 2-bedroom apartment around 120 EURO. In the small places people use charcoal and wood, which is even cheaper way to heat a house. For electricity, when used for cooking, light or hot water one pays about 30 EURO monthly.
To employ a gardener or maintenance man or builder one does not have to pay much. The average salary in Bulgaria is 200 EURO per month.
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19. Tourism in Bulgaria?
Answer: Tourism in Bulgaria is growing by 18%, which is the highest growth rate in Europe. Tourism from the other European countries to Bulgaria is growing even more by 25.3%. There is also growth in winter sports.
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20. What are the fees and commissions charged by Carre d'As Ltd?
Answer: Please, look for details about our charges here.
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