What is property tax? “Property tax” - The owners or the users of real property have to pay: local property tax at a rate of 0.15 % of the annual tax evaluation of the real property; local household waste fee, the rate… Read

What is the meaning of land registry fees? “Land registry fees” - The charge for registration into the land registry held by the recordation office is 0.1% fee based on the purchase price agreed between the parties or estimated according to… Read

What is transfer tax? “Transfer tax” - The sale of property is generally subject to transfer tax. Transfer tax is levied at a rate of 2% of the purchase price agreed between the parties or estimate according to the tax… Read

What is a legal fee? “Legal fees” - There are no statutory restrictions on legal fees. Read

What is the meaning of notary fees? “Notary fees” - The amount of the notary fee is calculated on the basis of the transaction value. The maximum notary fee cannot exceed BGN 3,000 (approximately EUR 1,500). Depending on whether the… Read

What is the meaning of guarantees according to the Bulgarian law? “Guarantees” - Corporate guarantees are not governed by the Bulgarian law. Therefore, this security instrument is used mainly when issued by banks. In case of companies or individuals instead of guarantee… Read

What is the meaning of limitations on acquisitions of properties? “Limitations on acquisitions of properties” - Before the accession of Bulgaria to the EU ownership of land could only be acquired by Bulgarian citizens and companies duly registered in Bulgaria. Bulgarian… Read

What is acquisition of property? “Acquisition of a property” - Property in private ownership is acquired through an acquisition agreement in form of a notary deed. The deed is signed between the parties before a notary public. State… Read