::BUYING PROCEDURE::

Choosing a property is the most important step in the buying procedure.
Whether you are looking for a permenant home, a place to spend your holidays or an investment, with the intention of letting it out or for future resale, the property should serve your purpose. We can help you in choosing the most appropriate property and having done so, pass on to the next stage in the buying process.

  If the property of your choice is land, or a house with land, you must set up a Bulgarian Company. According to Bugarian legislation, foreigners, can only buy land or property on land, in the name of a company in which you can be the sole owner or a partner with others. A limited liability company is the most suitable form of company and one which is almost always used by foreigners.

  After selecting an appropriate company name and any share allocations, our lawyers will prepare the necessary papers which will be translated into your language by a licenced interpreter. The starting capital required to set up such a company is 5,000 leva (equal to 2,560 Euros). This money must be deposited in a Bulgarian Bank Account in the name of the company. We will assist you to open this account. Once the Company is registered, up to the full amount can be withdrawn. Registering the Company in the district court takes 10-15 working days. The legal fees for this registration is 600 Euros. Another fee  is payable annually to an accountant for bookkeeping services and amounts to about 300 Euros.
If the property of your choice is an appartment without land, a company is not required.

  The property you buy will be taken of the market when we make a preliminary contract and you pay a deposit of 10 - 15% of the property price to your lawyer. He/she will then make all the searches on the property, establishing ownership, absence of debts and mortages and the presence of all other licences and permisions.

  Usually, the period between signing the preliminary contract (pay deposit) and transaction (completion and payment of balance) is about one month. It is important to remember that bank transfers take 4 - 5 days to reach the account. We are aware that you may not have the time needed to go through the whole procedure. If you cannot stay or come back for the property transaction (completion) you can give your Bulgarian lawyer Power of Attorney to finalise the transaction. On the same day that the Title Deed is signed and ownership transferred, attested by a Notary Public, all money balances become payable: the balance of the property price; our commission ; Notary and State fees.
The Title Deed will be issued the day after its duly sealed, signed and officially entered in the register of the Court. Lastly, you or your Attorney must declare the transaction in the tax office.

Congratulations! You are now the owner of a property in Bulgaria!

::TRAVELLING AND BOOKING::

      Usually one week is sufficient time to view and purchase a property. SMS Group Ltd needs a few days notice for Inspection Trips unless you are already  in Bulgaria when we can usually arrange visits immediately. We advise people to fly to Bulgaria on a Sunday so that property viewing can start on the Monday.                                          
  You must book your own inernational flights to Varna.
Once you have the dates, send us an e-mail. We will then contact you, arrange to meet you at Varna airport and escort you to your hotel. We can also make reservations for you at a good but inexpensive 3 star hotel in Varna. It is situated 100 metres from the famous Sea Garden Park, the coast and within a very short walk to the city centre.
We need the full names, addresses and contact numbers for those travelling in order to make hotel reservations and organise the meeting at Varna airport.

::OUR CHARGES::

Agents Commission.
Our commission is 3% of the property purchase price, but not less than 900 Euros.
If you buy more than two properties through our company a discount will be arranged.
Commission is payable on completion.

Other Fees.
Include Notary Fee, State Tax and State Register Entry Fee. which usually total about 3% of the purchase price.

Bulgarian Company Set Up.
600 Euros inclusive of all fees.

Accountancy Services.
Keeping and maintaining the paperwork for your company is 300 Euros annually.

Property Management.
To let an appartment we charge 15% of the rental price.
To let a villa we charge 20% of the rental price.
These costs include advertising the property on the rental market, concluding contracts, obtaining the best rental price and maintenance (indespensable repairs and cleaning not included).

Viewing Trips.
While in Bulgaria trips to view SMS Group properties which you subsequently buy are free.
If you decide not to buy our charges are 0,20 Euros per kilometer and airport pick up is 0,40 Euros return.