Real Estate and Consulting.
West Park - A Key Point Located and Personable Residential Building
|
Total of 38 apartments, 20 sold, 0 reserved, 16 available Total of 18 shops, 8 sold, 0 reserved, 10 available |
prices from
€ 58'700
£ 45'786
$ 92'100
General conditions
- Agency commission 3%
- General conditions
- • To buy an apartment in the complex you do not need to set up a Bulgarian limited company. The property could be purchased by a person.
• According to the Bulgarian law, to own the relevant ideal shares of the land, which are transferred together with the apartment, a foreigner needs to set up a Bulgarian limited company.
The fee for company registration is 600 euro and it is paid in advance together with the first payment for the property. The annual company accountancy fee is 200 euro.
• You do not need to come to Bulgaria to reserve the apartment and sign the preliminary contract or the company registration documents. If you prefer, you can use the services of BGP lawyers to represent you in Bulgaria.
• Additional expenses related to the purchase:
- Notary fees, with VAT included – they are determined as a percentage of the selling price of the rate for notary fees;
- Registration fee for registering of the title deed at the Registry agency – amounts to one thousandth of the selling price of the property;
- Local tax depending on the location of the property as it differs in the different municipalities but it is about 2-4 % from the selling price of the property;
- Bank charges;
These expenses are usually paid by the buyer.
• The full selling price is described in the title deed for the purchase of the property. The buyer receives an invoice for every payment he transfers into the seller’s bank account.
• Each buyer must be aware that after acquiring the ownership of the property, in two months’ period after the date of the signing of the title deed, the property should be declared in the local municipality. In case the client requests, BGP can perform this service free of charge.
• Each buyer must be aware that after acquiring ownership of the property he/she owes annual property tax and waste collection fee for the newly acquired property. The amount of the tax due is determined by the municipal council of every municipality and represents thousandth of the tax evaluation of the property. The tax evaluation is determined based on many factors such as size, location, year of building, improvements of the property, etc. Thus, the amount of the tax for 2008 in the city of Varna for property which is declared as “main” residence is 2, 1 per thousand calculated on the tax evaluation of the property.
The amount of the tax for waste collection fee is also determined for one year and differs in every location based on the decision of the municipal council. The fee for the city of Varna for 2008 is 1, 80 per thousand based on the tax evaluation of the property.
• Each buyer must be aware that renting out the property, providing it for use or selling it, as well as other activities related to the management of the property should be declared and taxed according to the approved order in the Bulgarian legislation. The profit gained by a judicial body after the sale of an own real estate is taxed according to the Law for corporate taxation with 10%.
Income gained from the sale or barter and other free of charge transfer of ownership of a real estate by a source from Bulgaria are taxed with final tax generated/ paid in favor of foreign physical persons, as well as other income, strictly described in the law and the tax rate is 10%, for physical person – 15%.
• There are no hidden costs related to the purchase of the real estate.
- Payment options
- 1 000 Euro - reservation deposit
5 % - When signing the preliminary contract
10 % - when the slab at level - 1,00 (minus one) is laid
20 % - when the slab at level + 8,60 (plus eight point sixty) is laid
20 % - when the slab at level + 17,00 (plus seventeen) is laid
15 % - when the shell stage of the building is completed
10 % - at completion of all installation works and laying the plaster ground coats
15 % - when Act 15 is issued
5 % - when Use permit for the building is issued
contacts
Bulgaria
Sofia, Antonia Vladimirova on+359 88 4988 670
or use our contact form
Greece
Official representative in Greece on+30 25410 83924
or use our contact form
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