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Rules on purchasing / relocating

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Baje
  9/4/2015 22:06 EST

Good evening all

I'm trying to get some advice on the possibility of purchasing a small apartment in the Bansko area. Also we're not from the EU so the most we can get is a 3 month stay.

From various places I've contacted with regard to the process, all have stated that to purchase a property & live there more than 3 months I'll need a type D visa and also need to have a company set-up in Bulgaria.

Where many difference come is some state I need to employ at least 10 local residents, some say I need to invest €500,000, some have said I could just register an offshore company. All places I've contacted have given me a different story.

Also does anyone have a reputable company that could assist in this process. I've had rates from €680 all the way to €22,000.

Looking forward to any advice you may be able to give.

linden1504
  9/6/2015 01:47 EST

Hello Baje,







I have a company ready for sale.


If you are interested, I will tell you how to purchase it.


In order to purchase it, you would only pay for the notary cost which are low in BG.






Best regards



David

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linden1504
  9/6/2015 15:00 EST

Hello Baje,







I have a company ready for sale.


If you are interested, I will tell you how to purchase it.


In order to purchase it, you would only pay for the notary cost which are
low in BG.






Best regards


David

Baje
  9/6/2015 20:58 EST

Hi David

Thanks for your reply and information however currently not looking to purchase an existing business.

C2Construction
  9/7/2015 14:38 EST

Hi Baje,

I feel your pain, I went through the same. So here's the facts as of a month ago. You DO need to open a company I order to own/buy any real estate, unless you are an EU citizen. It should not cost more than €500/1000lv to open the company, but many real estate agents/companies (especially if they do a lot of expat business) will provide this service for you as a part of the purchase. If done this way it would probably be even cheaper (I have even seen it advertised for free). But it is very important that you open your company with capital equal to the purchase price of the property (I would add a couple thousand euros above the purchase price just to be safe). This is because a company cannot purchase anything for more than its registered capital. This is easy to do and just means an extra step of depositing the purchase funds into an account in a BG bank for a few days until the registration is complete. If you don't do this you can always increase the capital of a company at anytime, but you will have to pay an accountant and notary fees. Forget about the "employing 10 Bulgarians" thing. That is only if you want to operate a business, AND use that business as justification to apply for Bulgarian citizenship. You only need to apply for a D visa (from outside of BG), and provide your deed,statement from a local BG bank account with €1900 minimum balance, proof of health insurance for the one year period your vids will be valid for, and a police clearance certificate. Once you get your D visa and arrive to BG you can then go apply for your residency permit and then get your ID card. Or, if you are only planning to holiday in BG you can still buy your house without a long term visa or residency permit, you will just have to make sure you are in BG for 90 out of every 180 days. Hope this helps, feel free to email me at [email protected] if you have any more questions.

Baje
  9/7/2015 23:28 EST

Hi John

Many thanks for that detailed message. That answers so many questions and added insight on things I was even aware of. Wasn't aware of the depositing and then purchasing through the same account either but at least now I know and makes sense.
I'll be sure to ask too if the real estate companies may provide this service.

Also thanks for the details on the process for the D visa as well. Now I have a better understanding of the full process and would be able to plan accordingly.

I'll be sure to keep your address as well for future reference in case any queries pop up.

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