Bulgaria is an EU member famous for its soft climate, historical attractions, and popular resorts. Bulgarians are hospitable and prices in the country are very affordable by European standards. Investing in a house abroad is alluring for many, especially regarding the current state of the world. Experts agree that investment in real estate is a good option. A house can become a permanent residence, a vacation place, or a profitable rental property. Bulgaria remains one of the most popular countries for buying a house.
We will address the most common questions our readers might have. This article talks about what documents EU citizens and foreigners need to buy a house in Bulgaria.
►Which foreigners can buy a house in Bulgaria?
There are no harsh restrictions. Moreover, the Bulgarian government is actively trying to attract foreign investments, so that a person with any citizenship can acquire a villa or a private house in the country. Bulgaria is located on the Balkan Peninsula and is famous for its resorts. Popular resorts in the North of Bulgaria include:
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Balchik,
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Golden Sands,
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Saint Konstantin and Elena,
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Sunny day and more.
Resorts are now actively developing in the Southern part of the country. Many cities there boast of ancient history:
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Sozopol,
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Burgas,
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Pomorie,
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Saint Vlas and others.
There are mountain resorts in the country with excellent tracks, lifts, and hotels:
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Bansko,
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Borovets,
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Pamporovo,
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Vitosha and these are only the main cities!
►How can foreigners buy house in Bulgaria?
Foreigners (outside of the European Union) can buy a house with a garden or other land plot in Bulgaria, but the purchase must be made for a legal entity. Therefore, you will have to open a company in the country, even if very small and not profitable one. In this regard, buying a house is more nuanced than an apartment that does not have such requirements. Every year it will be necessary to pay utility and property taxes. You can look for a house by yourself, through an agency, or through a realtor. In any case, to make a deal according to the law you would need notary services. Then the purchase must be registered with the Bulstat and Revenue Agency (National Tax Service).
►What documents are needed to buy a house for foreigners in Bulgaria?
If you would like to become a happy owner of a house in a Bulgarian city, you would need a valid passport and documents confirming the legality of your income. If the purchase amount exceeds 5,000 euros, a bank transfer is required. To open a bank account you would need a foreign passport and a taxpayer number. If you have a residence permit, present it as well. The whole process takes about 10 days.
►Which EU citizens can buy a house in Bulgaria?
It is not difficult for citizens of the EU to buy a house in Bulgaria. Therefore, the answer to the question: “How to buy a house in Bulgaria for EU citizens?” is simple. Bulgarians or citizens of any other EU country can freely buy a house with a land plot directly without registering a legal entity.
As for the documents, to buy a villa or a separate house in Bulgaria citizens of the EU need just a passport.
If you still have questions, contact the Bulgarian Resales agency, we will always help and tell you the answers!
