You'll probably have a thousand questions to ask but here we've answered some of what we feel are the most important.
Can I have a Mortgage?
All clients are asked to ensure they have sufficient funds before travelling on a subsidised inspection tour. Mortgages to 70% of the purchase price are available in Bulgaria. If clients wish to borrow from Bulgaria they are asked to let Advantage staff know this prior to booking a tour so that a loan approval can be obtained in advance to avoid disappointment.
Do I have to be in Bulgaria for completion or at any particular time during the buying process?
No. If you wish to sign over the Power of Attorney to your Lawyer they will conduct everything for you. Most clients however do wish to be there for completion to arrange furniture and check they are happy with the property, and collect the keys.
Can I take my dog or cat?
Yes. We can help you with the relevant veterinary & Customs certificates.
Do I need to open a foreign bank account?
In order to pay electricity and any local bills it will be convenient to have a Bulgarian Bank account. This will be provided for you during your inspection tour should you wish.
Are there any other tax benefits?
All EU countries have treaties only to pay local taxes in the country of origin, and once this is paid you can't be taxed twice. You will need tax advice if you intend to bring any proceeds back into the UK. Particular local advantages are:
- No Inheritance Tax in Bulgaria
- Pensions can be paid directly into your Bulgarian Bank Account.
Your local Bulgarian solicitor and bank will assist you in this area and Advantage staff always ensure you are introduced to these professionals.
All clients are asked to ensure they have sufficient funds before travelling on a subsidised inspection tour. Mortgages to 70% of the purchase price are available in Bulgaria. If clients wish to borrow from Bulgaria they are asked to let Advantage staff know this prior to booking a tour so that a loan approval can be obtained in advance to avoid disappointment.
Do I have to be in Bulgaria for completion or at any particular time during the buying process?
No. If you wish to sign over the Power of Attorney to your Lawyer they will conduct everything for you. Most clients however do wish to be there for completion to arrange furniture and check they are happy with the property, and collect the keys.
Can I take my dog or cat?
Yes. We can help you with the relevant veterinary & Customs certificates.
Do I need to open a foreign bank account?
In order to pay electricity and any local bills it will be convenient to have a Bulgarian Bank account. This will be provided for you during your inspection tour should you wish.
Are there any other tax benefits?
All EU countries have treaties only to pay local taxes in the country of origin, and once this is paid you can't be taxed twice. You will need tax advice if you intend to bring any proceeds back into the UK. Particular local advantages are:
- No Inheritance Tax in Bulgaria
- Pensions can be paid directly into your Bulgarian Bank Account.
Your local Bulgarian solicitor and bank will assist you in this area and Advantage staff always ensure you are introduced to these professionals.
Are there any hidden costs on top of the contract price?
Any price given in your contract is fixed in Euro's and will not change. However you need to remember that on completion you will need to pay municipality tax of 2% plus legal fees.
How long will we have to wait for our property to be built?
Weather is often a factor in the mountains in winter, and on the coast there is often a building ban during the summer holiday season. We therefore alternate our building programme to suit the above criteria. An apartment block once started takes approximately 6-8 Months to complete.
Are all your properties freehold?
Yes. Our detached properties are freehold & apartments are all shared freehold.
Do I need to have a Bulgarian company to own a property there?
If you buy an apartment you do not need to have a Bulgarian company. If you have a detached property then Advantage will open a company for you, which is very simple and part of our service.
Can I get employment in Bulgaria
Yes. Our local staff and your Bulgarian lawyer will help you.
Can I arrange to view properties whilst in Bulgaria on Holiday?
If you have already booked a holiday and would like to view our properties whilst there, please contact our UK office and we will make an appointment for you with our Bulgarian office. Our local staff will be happy to take you around for a day or two or as long as suits your individual requirements.
Can I become a Bulgarian resident?
Yes. Our UK staff can help you through this process.
Do I have to pay for healthcare?
Healthcare is available free to all EU residents.
Any price given in your contract is fixed in Euro's and will not change. However you need to remember that on completion you will need to pay municipality tax of 2% plus legal fees.
How long will we have to wait for our property to be built?
Weather is often a factor in the mountains in winter, and on the coast there is often a building ban during the summer holiday season. We therefore alternate our building programme to suit the above criteria. An apartment block once started takes approximately 6-8 Months to complete.
Are all your properties freehold?
Yes. Our detached properties are freehold & apartments are all shared freehold.
Do I need to have a Bulgarian company to own a property there?
If you buy an apartment you do not need to have a Bulgarian company. If you have a detached property then Advantage will open a company for you, which is very simple and part of our service.
Can I get employment in Bulgaria
Yes. Our local staff and your Bulgarian lawyer will help you.
Can I arrange to view properties whilst in Bulgaria on Holiday?
If you have already booked a holiday and would like to view our properties whilst there, please contact our UK office and we will make an appointment for you with our Bulgarian office. Our local staff will be happy to take you around for a day or two or as long as suits your individual requirements.
Can I become a Bulgarian resident?
Yes. Our UK staff can help you through this process.
Do I have to pay for healthcare?
Healthcare is available free to all EU residents.
0800 035 4664
