*Setting up a company

This is a relatively easy process. All you need is our in-office legal advisor to handle the details of establishing. Once the company has been registered, the purchasing of the property is on the company’s behalf. You are the sole owner of the company's capital and respectively of the property. The company doesn’t need to operate or show trading activity, it enables you to buy property. Each year it will be necessary to declare the company accountings and UMSA GROUP OF COMPANIES LTD can forward you to a good accounting company. A minimum of BGN 5,000 needs to be deposited (£1,700) in your company's bank account. This is the minimum capital required by Bulgarian law to establish a limited company. This is just your starting capital and it is used for the initial deposit.

*Preliminary Contract

This document is formed to confirm the consent to signing the contract for purchasing the property of your choice.

*Contract of purchasing a property

This is the final contract when the title deed is processed. The details of the owner are described. The possession of the property is transferred to the new owner via this document. On this stage the new owner has to pay governmental tax, the notary fee and stamp duty.

*Professional assistance

We are here to help and organize the whole process of acquisition for you from the start to the very end. The service will be undertaken by our team of experts in Bulgarian real estate. You will provide with professional advice on any topic that intrigues your attention.

*Legal treatment of the foreign investments in Bulgaria

Conditions and legal requirements for real estate purchases in Bulgaria in case the buyer is foreign person /individual or company/:

1. Purchase of land;

Foreign companies and citizens can buy land in Bulgaria only through Trade Company formed in Bulgaria. The company will buy the land, and on the other side the same company will be 100% owned by the respective foreign person. Bulgarian participation in the company is not necessary at all. The owner of the company can be its manager as well.

2. Purchase of buildings or objects in buildings:

Foreign companies and citizens can buy buildings and objects in buildings without any restrictions.

3. What is the moment when the investor becomes full owner of the respective property? The buyer becomes full owner of the property in the moment, when the final purchase contract in special notary's form becomes concluded. The contract /title deeds/ is prepared from solicitor and certified via notary. After the signing of the contract in front of the notary it has to be filled in the special property register in the local Regional court / the register is analogue of the cadastre register in some west European countries/. There the contract obtains special number which can be opposed to every one contract filled latter in the register.

*Legal services

Further real estate agent's services the company also offers full juridical service in completion of the respective investment deal, namely:

●- preparation and conclusion of the preliminary contract;

●- check of the right of property of the seller;

●- preparation and conclusion of the final purchase contract in front of the notary /title deeds/;

●- declaring of the property on the name of the new owner in front of the tax authorities;

●- insurance of the property;

●- check of the building status of the plot /when the investment is in land/;

●- change of the type of usage of the agricultural land in building plot;

●- tax planning of the further resale;

●- assistance in the payment process;

●- registration of LLC companies;

●- tax, statistic and social insurance registration of the company. Preparation of the company seal;

●- opening of bank account;

●- providing of nominal company's office - for free;

●- representation in front of the state bodies;

●- preparation and lodge of the annual tax return in the tax department;

●- audit of companies, executed by certified public accountant;

For our clients we engage experienced property solicitors who do all necessary consultations and prepare the respective documents.

In our work we contract lawyers in the respective fields /real estate, trade law, taxation, foreign investments and etc/ in accordance the needs of our client.

*Building works

To build your own building in Bulgaria – this is a perfect opportunity. The prices of the land together with the prices of the building services – they are good combination which will raise your profit in times. Because of its structure /professionals in different areas/ our team is able to supervise your eventual building works, trying to reach maximum profit for you. We already participate in few projects on the south Bulgarian Black Sea Coast and our experience assures us that we can be useful for you in our common benefit.

Maybe you have bought an apartment or building that needs to be renovated or finished. We can help you to do that with minimum efforts.