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Cotton Tree Beach Club - Our best selling beach complex located in Byala, Varna region. Airport > Hotel transfer services

Riviera Bay - front line residential complex

Total of 161 apartments, 50 sold, 8 reserved, 35 available
Total of 15 shops, 1 sold, 14 reserved, 0 available
ID Number: 21APT245 Add to MyBGP

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prices from

€ 96'800

£ 75'504
$ 151'879
BGP and official representatives worldwide charge no agency commission on this offer.
General conditions
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.

• 200 euro is BGP’s remuneration for the technical service for the completion of the deal and it is described in the contract of mediation signed between the agency and the buyer. You will be issued an invoice for this amount. No additional fee for preparation of documents and lawyer’s fee is due in case the buyer decides to use BGP Services lawyer’s services to represent it in front of the different institutions, notary publics regarding the purchase of the selected real estate.
• 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 ne 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
The prices and the availability are constantly updated. Prices are final, inclusive of VAT.

• To complete a property reservation for 14 days, you are required to submit a 3000 Euro reservation fee via a bank transfer to a BGP bank account.
• The amount will be deducted from the purchase price of your property upon receipt of the first instalment.
• The reservation fee is non-refundable in case of a purchase cancelation or withdrawal.

- 40% of the price of the property (minus the reservation fee) when signing the preliminary contract;
- 20% of the price of the property at completion of the slab which is the floor of the purchased apartment;
- 20% of the price of the property when the building is finished to a shell stage;
- 20% of the price of the property at Act 16;

contacts

Bulgaria
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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