This investor program where you get citizenship through investment is regulated by Bulgarian laws, so it’s more than official. 14. The co-owners must have no outstanding obligations concerning the property (to have paid the property tax and waste management fees) and this fact must be indicated in the Certificate of Tax Evaluation of the property. Movement is less common and less affordable. Edifício Castil, Certificate of Marital Status of the seller(s) showing the marital status of the owner (co-owners) as of the date of acquisition of the property. By acquiring a business or real estate worth not less than 300,000 euros, an investor may apply for a temporary residence permit in Bulgaria, which does not lead to permanent residence or citizenship. Find property in Bulgaria with Rightmoveoverseas.co.uk - the best place to search for property in Bulgaria and part of Rightmove.co.uk, the UK's number one property website. Articles are prepared by leading tax experts and lawyers. The Bulgarian Citizenship Act allows non-EU nationals who resided in Bulgaria for five years on permanent residency to apply for a Bulgarian citizenship and passport. I’m planning to buy a house next year, and have bookmarked the post. A most detailed guide to obtaining Portuguese residence permit with samples of documents for each stage, Case: How to buy property in Cyprus & obtain citizenship for the whole family. 1. A common practice when buying a property in Bulgaria is to pay a deposit to the broker to reserve the selected property. The government carries out the processing of the case and issues residence card. Residing in Bulgaria is not required neither during the permanent residency or citizenship application process, nor after obtaining the status. If you are considering buying off-plan in Bulgaria there are a number of points to consider. Since 1 st January 2012 EU and EEA citizens are allowed to buy land in Bulgaria, following the expiry of the 5 year prohibition included in the Treaty of Accession of Bulgaria to the EU. And buying a passport through a legitimate citizenship by investment program is one of the quickest ways to get one. Right now, in the COVID-19 era, is the best time in years to buy a second passport , because several Caribbean citizenship by investment programs are ON SALE . 7 of the Notaries and Notarial Practice Act (NNPA) and a declaration under Art. In the event that real rights are registered for the property, in order to execute the sale transaction the user must abandon the real right established in their favour – this is carried out by filing a statement for waiver of the right of use. BULGARIAN PROPERTIES and our team of lawyers can assist in obtaining a Bulgarian residence permit for NON EUROPEAN CITIZENS who have bought real estate properties in Bulgaria through our company. The investor must fulfill 2 basic requirements: The buying process is generally straightforward and can complete within a few weeks. Certificate of Tax Evaluation of the property – issued by the tax office at the location of the property. The same applies to property acquired by inheritance, donation, and others which are not MPC. • Invest in government bonds; Do not sign a deposit agreement, preliminary contract or pay deposit before your lawyer performs due diligence of the real estate. Our expert will describe all the peculiarities of the Bulgarian citizenship program, its advantages and disadvantages, and provide examples of cases. Tips for Life in Bulgaria, Best Info and Advice for Expats. the right to acquire land or immovable property in Bulgaria and a number of other EU countries which may otherwise restrict access to foreign nationals; various rights to access the education systems of Bulgaria and the member states of the EU (including eg, to pay fees at “home/EU” rates at institutions of higher and further education, to receive student loans and financial assistance; Once you submit your paperwork and establish a permanent residence in Bulgaria, you make your investment and you wait two to five years until you earn your citizenship. Sofia is Europe’s 15 th largest city with 1.25 million people and 607,000 homes, but just 3% of these were sold in 2012. In order to implement the post-paid service mechanism, we have perfectly adjusted our internal processes. The interest would add up to $320,000. Renting will allow you to get familiar with the area and make sure it works for you all year round. This article couldn’t be written much better! Contact us to see the latest terms available on mortgages to buy a property in Bulgaria. Buying off-plan property inevitably involves higher risk than buying re-sale property. The legal owner of the property is considered to be the person registered in the Real Estate Registry. Result of this step: Permanent residence cards received in 4-6 months. In case you don’t want to freeze your own capital for 5 years or so, you might be able to consider financing the bond with a loan through the Bulgarian government. Normally, the process takes up to 2 years. Payment can also be made through world-renowned escrow agents. This guide will walk you through everything you need to know about buying property in Mexico. 25 (1) of the Foreigners of the Republic of Bulgaria Act “Permit for permanent residence may be obtained by the foreigners who: have invested over BGN 1 000 000 or increased their investment by this amount by acquisition of: (b) bonds and treasury bills, as well as derivative instruments issued by the State or municipalities, with a residual ter… Want to see for yourself? Citizenship or residency can be bought in these 23 countries, ranging from $15,253 to $2.57 million. €1,022,000 — a minimum investment (paid in two installments, per €511,000 each, with a 1 year interval), €270,000 — a minimum donation (permanent residency stage require €195,000 and citizenship stage require €75,000). In this section, you can find out more about the cases of our clients. When you choose to invest in Bulgaria you become eligible to live and work legally in the country. Under the terms of the transaction, the investor does not receive any interest. If you intend to buy a property in Bulgaria, you ought to consult a real-estate lawyer first. From Russia to Varna as an International student! You only need to provide the original documents. The average property search budget hasn't really changed in a year – it was previously £124,313 and is now £128,231. • Deed, with records for its registration; . info from: Registry Agency at the Ministry of Justice of the Republic of Bulgaria. Funds should be invested in bonds for a period of 5 years. While this may seem an unlikely step, it is one that some EU governments already place on other non-EU nationals who wish to buy a property … Property with land includes all houses with gardens, flats/apartments that include ‘ideal’ parts of land, offices and commercial properties. A visit to Bulgaria is not required. Usually takes a few weeks to complete the procedures needed to register a property in Bulgaria enjoy. 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