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Buyers Guide Print E-mail

A Buyers Guide to purchasing a property through First Line BG Property

If the apartment you want to check is available (via Antoniya Zapryanova– BG consultant tel. + 359 887 312 103 e-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it ) and to reserve the ownership of the apartment, we will require a deposit of 2000 Euro, you then you will be issued with a receipt.

Preliminary Contract

You will receive 2 copies of a Preliminary Contract. These will be issued within one week of receipt of your reservation fee to your country of origin or if your trip allows the time, can be issued while you are in Bulgaria (would require a minimum of 10 days).
Please check all the details are correct before signing both copies.
We are able to liaise with you to recommend a Bulgarian independent lawyer upon request to be your legal representative. Who can carry out a full legal service for you.
We are also able to offer you foreign currency exchange companies based in UK for you to get the best purchasing rates for your payments.
Return one copy of these signed documents to our office within 30 days with your 1st installment payment (or full payment depending on the agreed terms). Please note we accept payments by bank transfer.
(We offer various payment plans these can be discussed.)

Note: Your reservation fee in non-refundable. It will however be deducted from the purchase price of your property upon receipt of the first instalment.

Construction Phase

We regularly update our website with construction updates throughout the build process. This will allow you to monitor the progress of your property.
Usually (depending on your agreed payment plan) there is one or more interim installment payment to be made prior to full completion of the property.
We will advise you in good time of estimated dates for interim installments.

Final Completion

Prior to all construction being completed, you will be notified when your final installment is due.
Upon completion of the property and payment of the final installment, the transfer of title can take place.
In Bulgaria the property registry system works in conjunction with local Notaries.
In order to take delivery of your property, you will need to sign the “Notary Act”. This is a standard form document transferring ownership of the property into your name.
You will receive title deeds within three weeks of the Notary Act from ourselves once we receive from the Local Council.
Note: if you are unable to attend the Notary Act in person, your legal representative may attend in your place. This individual will need to be qualified Bulgarian solicitor in possession of a “Power of Attorney” agreement. We are able to liaise with you to arrange this and recommend an Independent solicitor.


Building ACT information in Bulgaria

Act 14 is issued after the structure of the building is complete (finished rough construction - foundation, roof, etc.) and is in effect an approval of the building structure. Act 15 is issued to ascertain that a construction or building is fit for acceptance (it meets the construction technical requirements). Act 15 is in effect issued after the construction of the building is complete by the builder, but before the quality report of the independent construction supervisiors. Act 16 is issued after all quality issues are resolved by the builder (if any) and the building is complete and ready to be occupied. Act 16 is in effect a permit to use (put into operation) of the building (it meets the specific use requirements, including utilities, etc).

Useful Information

All of our apartments are sold on a freehold unit basis (without land). The developer owns the Land.
To purchase Land or a dwelling with land e.g. a new build house or an existing building whether it is residential or commercial. As a foreigner, you have to purchase the land or property through a Bulgarian Company, which you can own and set up in Bulgaria. This is a simple process and we can explain and help you with this procedure.
When you buy: On completion, there are a number of transfer and local taxes. These taxes are total from 4 % to 5 % of the purchase price. You will be required to pay these taxes at the same time as your final installment for your property.
When you sell: When you re-sell your property, convention in Bulgaria is that the new buyer pays the full transfer taxes.
Maintenance of your property is covered by the Management Contract from the developer and usually signed upon purchase. This is charged at a fixed rate in euros per square meter (NB. Discounts are offered for advanced payment schemes) Payments vary from development to development.
You will be required to take out buildings and contents insurance for your property. We can provide you with useful contacts.
If you have any questions, relating to any of the above information or any additional queries you may have. We are more than happy to help.


Land Tax: 0.15% of the purchase price yearly.

Annual Community and Waste Collection Taxes: 0.5% of the purchase price yearly.

Property Tax:
0.25% of the purchase price. If this tax is paid by the 31st of January, the property owner or co. receives a 5% discount. Otherwise, this tax is paid on a quarterly basis.

Tax On Rental Income: This is subject to a 10% tax after deducting allowable expenses such as mortgage interest etc.

Wealth Tax: No Wealth tax in Bulgaria.

Inheritance Tax (IHT): This was levied at up to 10% up to 2004, but has been abolished altogether in 2005.

Capital Gains Tax: The new Personal Income Taxes Act has been promulgated and entered into force as of 1st January 2007, so the situation with the capital gains tax is clearer now. In principle for foreign persons (who do not reside in BG more than 183 days within one year) it is 10 % of the profit (the balance between the declared purchase price and the declared sale price minus 10 % recognized by the law as expenses that reduce the taxable profit) but there will be no capital gains tax, if the following conditions are met:
  • During the calendar year the person has sold only one real estate in BG (i.e. for more than one property there will be capital gains tax);
  • During the calendar year the person has sold up to 2 real estates but more than 5 years have passed since the person has acquired the estates in question;
  • For tax purpose the person is considered resident of a member state of EU or another state from the European Economic Area, i.e. the tax relief is only for European citizens.
  • The net result of these clauses is that investors will most likely be exempt of capital gains tax.

VAT (*): If a property is purchased via a Bulgarian registered company that has been VAT registered, then the VAT (20%) can be reclaimed from the government at the end of the tax year within which the transaction took place. When the property is resold, this VAT refund must be repaid to the government. However, taking into account, within approx. 5 years the buyer should be exempt from this and not be liable to repay any part of the sum.