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When buying real estate in Bulgaria, if you are married, there is no requirement to have a property agreement (also known as a prenup) before buying property. However, spouses can sign a property agreement (prenup) that specifies how assets, including real estate, will be managed and divided during the marriage and in the event of divorce. This agreement may stipulate that the property acquired by one spouse is his sole property.

A tax identification number in Bulgaria, known as a БУЛСТАТ (BULSTAT) or Personal Identification Number (EGN), is necessary for many legal and financial activities, including buying property, opening a bank account and filing tax returns. Here are detailed steps on how to obtain a tax identification number in Bulgaria:

Gather the necessary documents:

• Passport or identity card: Identity document.
• Registration documents: If you are registering a company, you will need documents to prove your business registration.

A visit to the relevant office:

• Go to the nearest BULSTAT registration office. For individuals, a tax identification number can often be obtained from the tax office (НАП – National Revenue Agency).

Filling out the forms:

• Fill out the appropriate forms, which are available at the office or online at the websites of the relevant institutions.

Submission:

• Submit the application in person at the office. In some cases, it is also possible to apply online or by proxy.

Number pickup:

• Once the application is submitted and the documents are verified, a tax identification number will be issued. You can pick it up in person or receive it by mail, depending on the office’s procedures.

1. Preparation of required documents:

• Passport or identity card: Photo ID.
• Tax Identification Number (EGN or BULSTAT): If you are a resident or doing business.
• Confirmation of address of residence: This can be a utility bill, rental agreement or other document confirming the address.
• Documents proving employment or business: In the case of a business account.

1. Visit to a bank branch
   Go to the bank branch of your choice. Some banks may offer the option to open an account online, but in many cases a personal visit will be required, especially for foreigners.
2. Filling out the application
   Fill out the bank account application form. The bank may also require you to sign some additional documents, such as a consent to process personal data or a banking services agreement.
3. Initial deposit
   Depending on the bank, a minimum initial deposit may be required to open an account. This amount may vary depending on the type of account and bank.
4. Verification and account activation
   Once you have submitted your application and required documents, the bank will proceed to verify your information. This process can take from a few hours to a few days. After successful verification, you will receive your bank account number (IBAN) and debit card, if ordered.
5. Access to online and mobile banking
   Most banks offer online and mobile banking services. Once your account is activated, the bank will provide you with access to these services, allowing you to manage your account online.
6. Signing the contract
   The final step is to sign a contract with the bank. Make sure you understand all the terms of the contract, including account fees, international transactions, ATM withdrawals and other services.

Yes, you can send a transfer from Poland to a bank in Bulgaria for the purchase of real estate. This is a fairly common practice and can be done using standard banking services.

Yes, you can use Revolut to pay for a property in Bulgaria, but there are some issues to consider before performing such a transaction.

Issues to consider when using Revolut to pay for a property:

• Transaction limits
• Acceptance by the seller
• Regulations and safety
• Documentation

Yes, in Bulgaria, documents issued in Poland must be certified by an apostille certificate to be considered legitimate. The apostille certificate confirms the authenticity of the signature, the function of the person signing the document and, where applicable, the identity of the seal or stamp with which the document bears.

Yes, a bank in Bulgaria, like banks in other countries, may require proof of origin of funds used to purchase real estate.

Banks in Bulgaria may honor documents drawn up by a Polish notary, but they must meet certain requirements to be considered valid. These documents must be properly legalized and translated.

Checking the land register in Bulgaria is a key step before buying a property to make sure there are no legal or financial encumbrances. Below are the steps you should take to check the land register (извадка от имотния регистър) in Bulgaria:

• Find the right branch: determine which local branch of the Registry Agency serves the area where the property is located.
• Prepare property data: Gather all necessary information about the property, such as address, identification number, owner.
• Visit or contact: Visit the branch in person or contact them by phone or email for information on required documents and fees.
• Submit a request for information: Apply for an extract from the land register (извадка от имотния регистър), which contains detailed information about the property.
• Fee: Pay the fee for the service. Fees may vary depending on the branch and type of information.
• Pick up the documents: Once your application has been processed, pick up an extract from the land registry in person, by mail or online.

There are several different types of taxes and fees to consider when buying property in Bulgaria. Here are the main taxes that may apply:

Local Property Tax

• This tax is set by local municipal authorities and usually ranges from 0.1% to 3% of the value of the property. The exact rate depends on the specific municipality where the property is located.
• The tax is calculated on the market value of the property as specified in the deed or on the cadastral value of the property, whichever is higher.

Notary Fees (Notary Fees)

• Notary fees in Bulgaria are regulated by law and depend on the value of the property. Typically, these fees range from 0.1% to 1.5% of the value of the property.
• The fee is charged on the market value of the property.

Registration Fees (Registration Fees)

• The fee for registration in the land register is 0.1% of the value of the property.
• The fee is calculated on the market value of the property as specified in the notarial deed.

VAT

• If you buy a new property directly from a developer, it may be subject to 20% VAT. VAT usually applies to new properties sold by businesses.
• The purchase of a used property from an individual is usually not subject to VAT.

When buying a new property in Bulgaria, certain tax breaks and incentives may apply, although these are limited and depend on specific circumstances. Here are some aspects to consider when it comes to potential tax breaks when buying property in Bulgaria:

Reliefs for individuals

• Currently, Bulgaria does not offer specific tax breaks on the purchase of a new property for individuals. However, it is worth checking local regulations, as they can vary from region to region and municipality to municipality.

Reliefs for foreign investors

• Tax breaks for investments: Large investments in certain regions may be eligible for tax credits or exemptions from certain taxes.
• Incentives for construction companies: Construction companies and developers can take advantage of tax breaks for infrastructure investments or other real estate development projects.

VAT

• The purchase of a new property from a developer is usually subject to 20% VAT. In some cases, developers may offer promotions where they cover the cost of VAT, effectively lowering the cost of the purchase for the buyer.
• The purchase of a used property from an individual is not subject to VAT.

Capital gains tax

• If you are selling a property and plan to invest the funds in the purchase of a new property, capital gains tax credits may apply, as long as certain conditions for reinvestment are met.

Discounts for energy-efficient properties

• Some municipalities may offer rebates or subsidies for investments in energy-efficient or green properties, although such programs are less common.

Basic standard of finishing

• Walls and ceilings: Walls are usually finished in white, ready to be painted or wallpapered. Ceilings are usually smooth and painted.
• Flooring: Floors in living areas can be finished with laminate, parquet or ceramic tiles, while ceramic tiles are most commonly used in kitchens, bathrooms and balconies.
• Interior and exterior doors: standard interior doors and solid exterior doors with burglar lock.
• Bathrooms: Bathrooms are usually fully finished and equipped with basic sanitary and hygienic facilities, such as toilets, sinks, shower stalls or bathtubs, and bathroom faucets.
• Kitchens: In standard finishes, kitchens are often equipped with basic kitchen cabinets and countertops, but no appliances.

Medium standard of finishing

• Floors: high quality laminate, wood parquet or more aesthetically pleasing ceramic tiles.
• Walls: The walls can be painted in the color of the buyer’s choice, and some developers’ projects also offer wallpapering.
• Bathrooms: Bathrooms can be more luxuriously furnished, with better fixtures, high-quality tiles, and sometimes additional equipment such as bidets or suspended toilets.
• Kitchens: Kitchens can be equipped with higher quality cabinets, stone countertops, and basic appliances such as an oven, cooktop and hood.

Luxurious standard of finishing

• Flooring: top-quality materials such as natural stone, marble, high-end parquet or exotic wood.
• Walls and ceilings: luxury wall finishes, including premium paints, designer wallpaper, suspended ceilings with LED lighting.
• Bathrooms: Bathroom amenities include designer tiles, exclusive fixtures, freestanding bathtubs, whirlpool shower stalls, and underfloor heating.
• Kitchens: Comprehensively equipped kitchens with top-of-the-line appliances (refrigerator, dishwasher, oven, cooktop, hood), natural stone or composite countertops, custom kitchen cabinets made of high-quality materials.
• Additional amenities: Smart home systems, air conditioning, underfloor heating, security systems, built-in audio systems and other luxury extras.

Credit rating

• Prepare documents to prove your income, such as bank statements, income certificates, employment contracts, tax returns.
• Banks will check your credit history to assess your credit risk. It is important that your credit history is positive.

Property selection

• In many cases, you will be required to submit a preliminary contract for the purchase of the property, which sets out the terms of the purchase, including the price of the property.

Collection of required documents

• Identity document: Valid passport or ID card.
• Income documents: As above – bank statements, income certificates, employment contracts, tax returns.
• Real estate documents: Preliminary contract, technical documentation of the property, real estate appraisal (prepared by a licensed appraiser).
• Other documents: The bank may require additional documents, such as insurance policies, proof of no debts.

A visit to the bank

• Make an appointment with the bank to discuss your financial situation and credit needs. A credit counselor will help you understand the options available and the bank’s requirements.

Submission of an application

• Fill out the mortgage application form. This form contains detailed information about your financial situation, the property you intend to buy, and the terms of the loan you are applying for.
• Submit all required documents along with the application.

Analysis of the application by the bank

• The bank will analyze your creditworthiness and assess the value of the property. This process may include document verification, credit interviewing and risk analysis.

Credit decision

• Once the analysis is complete, the bank will issue a credit decision. It can be positive, negative or conditional (e.g., with additional requirements or collateral).
• If the decision is positive, the bank will provide you with a loan offer that specifies the terms of the loan, including the interest rate, loan term, monthly installments and any additional fees.

Signing of the loan agreement

• If you accept the loan offer, you will sign a loan agreement in the presence of a notary. This agreement details all the terms of the loan.
• In the case of a mortgage, it will be necessary to establish a mortgage on the property as security for the loan.

Withdrawal of funds

• Once the loan agreement is signed and the mortgage is established, the bank will proceed to disburse the funds. The funds will be transferred to the account of the seller of the property in accordance with the terms of the purchase and sale agreement.

In Bulgaria, as in many other countries, marriages without property separation (i.e., with statutory community of property) are also treated property acquired during the marriage is jointly owned by both spouses. Accordingly, there are certain legal requirements for the purchase of real estate by married couples.

Obligation for both spouses to be present:

• Presence at the signing of the contract: If the property is to be purchased on a jointly owned marital estate, both spouses should be present at the signing of the purchase and sale agreement at the notary.

Power of Attorney:

• If one spouse cannot be present at the signing of the contract, the other spouse may represent him or her under a notarized power of attorney. The power of attorney must be drawn up by a notary and must expressly authorize one spouse to act on behalf of the other in the purchase of the property.
• If the power of attorney is drawn up outside Bulgaria, it must be apostilled (if the issuing country is a party to the Hague Convention) and translated into Bulgarian by a sworn translator.

Living in a newly purchased property from a developer in Bulgaria can depend on several factors, such as the status of the construction, obtaining the appropriate permits and completing all legal formalities.

Yes, a bank in Bulgaria can block a transfer from Poland if the transaction appears suspicious, does not comply with AML regulations, exceeds transaction limits, or if there are technical errors. It is a good idea to contact your bank before making a large transfer to make sure all requirements are met and to avoid potential problems.

Typical commission rates

• Standard commissions: commissions for realtors in Bulgaria typically range from 2% to 5% of the property value. These rates can vary depending on the value of the property and the agreement with the developer.
• Agreements with developers: Developers can negotiate individual contracts with intermediaries, which can include fixed commissions or commissions based on sales performance.

Distribution of commissions

• Commission sharing: The commission may be split between the broker representing the developer (seller) and the broker representing the buyer. The typical commission split is 50/50, but specific terms may vary from contract to contract.

Who pays the commission?

• Developer: In most cases, it is the developer who pays the commission to the realtor for finding a buyer. However, it is worth reading the contract carefully to make sure who bears the cost of the commission.
• Buyer: Sometimes commission costs can be passed on to the buyer, especially if the buyer uses a real estate broker. In this case, the buyer should be aware of the additional costs associated with the commission.

Other fees

• Administrative fees: In addition to the commission, there may be additional administrative fees associated with the transaction, such as notary fees, property registration fees, taxes and other costs.
• Marketing and promotion: brokers may also charge for marketing and promotional activities related to the sale of real estate.

Obtaining an apartment vacation rental license in Bulgaria requires registering a business, meeting technical and sanitary requirements, reporting the business to the municipality and submitting regular tax returns. Making sure that all procedures are properly carried out is key to running a short-term rental business legally and without problems.

The time to decide whether to buy a property in Bulgaria after viewing it can vary depending on several factors:

Preliminary Agreement.

• Expiration date: The preliminary agreement usually specifies the date by which the finalization of the transaction must take place. This can be several weeks or months, depending on the arrangement.

Real estate market

• Competitive market: In popular locations such as Sofia, Varna, Bourgas or seaside resorts, you may have to decide to buy sooner due to the high interest in the properties. In such a case, it is worth being ready to act quickly.

Individual arrangements with the owner or developer

• Negotiation flexibility: Agree with the property owner or developer how much time you have to make a decision. Sometimes you can negotiate a reservation date or an extension of the preliminary agreement.

Legal formalities

• Notary: The finalization of the purchase of a property in Bulgaria takes place before a notary who draws up the deed of sale. The notary also performs legal verification of the property, which can take several days to several weeks.

After selecting an interesting offer and checking its parameters and availability, all you need to do is apply for a purchase on our platform.

Our team conducts a preliminary analysis of availability with the developer and, after agreeing on the reservation amount, registers your person with the developer. We then work with your law firm to obtain the relevant documents. After translating and completing the documents with your lawyer, you go to a notary public, where you sign the necessary documents and then make a Court Apostille. The court-certified documents go to our legal office, which purchases the property on your behalf.

Our lawyer will open a bank account for you, which is necessary to conclude contracts with water, energy or internet providers. In addition, the lawyer will make out a tax identification number for you and secure the entire transaction. You send the amount of payment for the property, agreed according to the contract, from the Polish bank directly to the developer’s account. Upon completion of the transaction, the property becomes yours, and our lawyer takes care of the appropriate entries in the land register, providing you with complete security and comfort throughout the purchase process.

1. Proof of identity:

• Passport or ID card.

2. Confirmation of income:

• A certificate of income from the employer.
• Pay stubs for the last 3-6 months.
• Tax returns for the last 1-2 years (if you are self-employed or self-employed).
• Bank statements for the past few months.

3. Employment contract:

• A copy of the employment contract or a certificate from the employer confirming employment and salary.

4. Credit history:

• Information on any existing credit obligations. – Confirmation of repayment of prior loans (if applicable).

5. Real estate documents:

• Preliminary agreement for the purchase of real estate or reservation agreement.
• Documents relating to the property, such as building permit, development plan, title, etc.
• Valuation of the property by an authorized appraiser (may be required by the bank).

6. Residence permit:

• Foreigners may be required to have a residence permit in Bulgaria.

7. Certificates of not owing taxes:

• A certificate from the tax office confirming the absence of tax arrears.

8. Confirmation of the contribution:

• Evidence of funds for own contribution (e.g., bank statements).

9. Other documents:

• Depending on the bank, additional documents may be required, such as life insurance, property insurance, etc.

• Property selection and reservation
• Checking legal documentation
• Signing of the Preliminary Contract.
• Obtaining financing (if needed)
• Technical acceptance (if applicable)
• Signing of the Final Contract
• Property registration
• Transfer of real estate

• Bank transfer
• Mortgage loan
• Payment in cash (up to EUR 10,000)
• Escrow account
• Payment in installments

Yes. From the moment of arrival until the finalization of the property purchase process, the DEVETOPER platform guarantees the presence of an interpreter.

We also recommend consulting a DEVETOPER platform advisor for additional help and advice.

Yes. The DEVETOPER platform offers legal support at every stage of the transaction.

If a client buying a new property in Bulgaria is unable to finance the second payment, the consequences depend on the terms of the Preliminary Contract and any additional agreements with the developer. Here are typical scenarios and possible consequences:

1. Loss of first payment (down payment)

• Non-refundable deposit: In many preliminary contracts, the first payment (down payment) is specified as non-refundable, meaning that if the buyer is unable to make the next payment as scheduled, the developer has the right to keep the down payment as compensation for breaking the contract.

2. Possibility to negotiate with the developer

• Renegotiation of terms: The buyer can try to negotiate new payment terms with the developer or obtain an extension of the payment term. Developers can be flexible depending on the market situation and the buyer’s individual circumstances.
• Changing the payment schedule: It is possible to set up a new payment schedule that allows the buyer to settle outstanding payments at a later date.

3. Loss of right to real estate

• Breaking the contract: If the buyer is unable to make the required payment and fails to reach an agreement with the developer, the preliminary contract may be broken, which means losing the right to purchase the property.
• Sale resumption: The developer may resume the sale of the property to another buyer.

4. Legal implications

• Contractual clauses: There may be clauses in the preliminary agreement that specify contractual penalties for failure to meet payment deadlines. It is important to read the contract carefully and understand the potential financial consequences.

5. Financial support

• Mortgage loan: the buyer may consider obtaining a mortgage to cover the missing funds. It is worth consulting with a bank to obtain a loan or to increase an existing line of credit.
• Loans from friends or family: Alternatively, the buyer can try to get financial help from friends or family.

It is not necessary to physically come to Bulgaria to purchase a property there, you can use the, “BUY ONLINE” function available in the Broker Panel although, of course, seeing the property in person and meeting with a DEVETOPER advisor can be very helpful.

Typical reservation fee rates:

• 1% to 5% of the value of the property: This is standard practice, though some developers may require a fixed amount, such as €1,000 to €3,000, regardless of the value of the property.
• The amount set in the reservation agreement: The reservation fee and its terms are always clearly defined in the reservation agreement that the buyer signs with the developer.

Yes, it is possible that a developer in Bulgaria, as in any other country, will not fulfill the contract and complete the property.

There are steps you can take to protect your interests. It is important to thoroughly research the developer, enter into a detailed contract, monitor the progress of construction and be prepared to take legal action if necessary.

If a developer in Bulgaria fails to deliver construction on time, it is crucial to know the terms of the contract thoroughly and be prepared to enforce your rights. Negotiations, formal notifications, enforcement of contractual penalties and possible legal action are tools that can help secure your interests.

Yes. The DEVETOPER platform offers legal support at every stage of the transaction, as well as after its completion.

Buying a new property in Bulgaria usually takes from several weeks to several months. This time depends on various factors, such as searching for a property, negotiations, obtaining financing, legal verification and processing paperwork.

In order to purchase a new property in Bulgaria by proxy, you need a notarized special power of attorney, which specifies the exact scope of the proxy’s authority. This power of attorney can be drawn up both at a notary public in Bulgaria and in Poland. If the power of attorney is drawn up in Poland, the document must be translated into Bulgarian by a sworn translator and provided with an apostille. The attorney must have the original power of attorney when carrying out the real estate purchase activities.

When the option, “AIRPORT PICK UP” has been selected in the intermediary’s company panel and the payment has been made by the client, our employee will be waiting at the airport at the appointed time.

No. We offer the possibility of high-class accommodation in our apartments for an additional fee. Reservation of an apartment can be made directly from the intermediary’s company panel, selecting the appropriate option when booking a property or arranging a visit to inspect selected properties. The reservation becomes active after the advance payment is made by the client.

1. amount up to EUR 10,000

– No declaration: If you are bringing into Bulgaria cash worth up to €10,000 (or the equivalent amount in another currency), you do not need to make a customs declaration. This amount includes cash, traveler’s checks, bank checks, bills of exchange and other bearer financial instruments.

2. amount above EUR 10,000

• Customs declaration: If you are bringing cash into Bulgaria with a value of more than €10,000 (or the equivalent in other currencies), you are required to declare this amount at the customs office when entering the country. The declaration must contain information about the origin and destination of the cash.

3 Consequences of not declaring

• Fines and confiscation: Failure to declare cash worth more than €10,000 can result in financial penalties, as well as confiscation of the undeclared amount. So it’s worth making sure you meet all legal requirements.

The most important part of your visit and stay in Bulgaria is the crucial phase of the property buying process. DEVETOPER’s agents will present you with 5 to 8 properties every day, and in some cases this number can go up to 10-12.

If a customer misses his flight and does not show up at the airport in Bulgaria, where he was supposed to purchase the property, there are several possible solutions to the situation:

• Rescheduling an appointment: The client can contact the real estate agent or seller to inform of his absence and try to reschedule the appointment to another convenient day. The DEVETOPER platform is understanding in such situations and may agree to reschedule.
• Power of Attorney: If the client anticipates that he will not be able to personally participate in the purchase process for an extended period of time, he can grant a power of attorney (poder) to a trusted person who will represent him in Bulgaria. This person can act on his behalf, signing the necessary documents and finalizing the purchase.
• Remote signing of documents: Depending on the regulations in Bulgaria and the willingness of the other party to the transaction, it may be possible to remotely sign some documents, for example by using digital electronic signature tools. However, you should consult this possibility with your DEVETOPER advisor to make sure that everything is done in accordance with the law.
• Virtual property viewing: If the client’s absence is related to the stage of viewing the property, you can ask a DEVETOPER advisor to arrange a virtual tour or send you detailed photos and videos showing the property.

Apartment reservations are made exclusively through the intermediary’s panel, and the process can only be initiated when registering a client’s trip to purchase a property in Bulgaria. When completing the application through the Company Panel, the intermediary has the opportunity to take into account and select the type of apartment, length of stay and number of people.

Receipt of the keys to a property in Bulgaria usually follows the signing of the deed and finalization of payment. The keys can be handed over at the time of signing the deed, if all conditions have been met, or after the property registration process is completed. It is important to have clear agreements with the seller and make sure that all legal formalities have been completed.