Nice Places in Bulgaria. Bulgaria Guide.

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There is a harbour station situated in the northern part of the town. We are offering a very attractive plot for investment in the town of Lom with a permission to build. Afterwards we will arrange for you the viewing of properties you may be interested in at any time convenient to you. Mirela Real Estate agency has a partnership with leading Bulgarian Banks based on a licensed contract, by the force of which we represent them, a sign of respect and trust. Our credit specialists offer consulting services to our foreign clients and this service is free. The minimum amount of the credit is Eur 7500, the maximum is Eur 250 000 for a period of up to 20 years. A person must be at least 23 years old to be considered eligible and the age plus the loan period shouldn't exceed 65 years. For the first year the interest rate is 1.5% or 5.9% for the first 3 years. There is a standard interest rate for the rest of the loan period which is 6.5%. The bank has an application fee of BGN 20 and an administration fee of 0.5%. The prepayment fee is 5%.First Investment bank Every able local or foreign citizen is considered an eligible borrower. However, if the acquired property is a plot, a local citizen should acquire a property. There are no limits concerning the maximum loan amount. The maximum term is 240 months with a loan purpose- acquisition of a real estate.There is an option of a period when the borrower pays only interest which may be up to 12, 24 or 36 months. After it equal monthly installments during the loan term are paid. In case of overdue payments the bank charges a penalty interest rate. The application fee is Eur 50 and the management fee is 2%. You can read more on the fees and charges on their website. The applicant's income should be 1.50 times the monthly installments. Mirela Real Estate Agency is in partnership with companies that offer complete line of furnishing services including ready set furniture packages that meet the requirements of the rental management companies. If you prefer our partners can help you design an ideal interior to suit your taste and style, and completely furnish the property so that everything is ready for you. Only Bulgarian-resident individuals and entities can acquire title to land, while non-residents may acquire only buildings and limited rights (e.g., leasehold and construction rights) to land. If you are investing in Bulgaria, as a non-resident property owner, you can be liable for the following taxes: Property Purchase TaxThe purchased property will be subject to a notary and a municipal tax. The notary tax is paid on the higher of the market price or the book value of the property. Rates vary and are typically less than 1%. In addition, 2% of the market value of the property is paid as a municipal tax. This money goes to the municipality in which the property is situated. You pay these taxes after you have signed the notary deed.Annual Property TaxAll property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property. In addition to this tax, owners also pay a waste-collection tax. The rate depends on the location and size of the dwelling. All other real estate transactions are subject to VAT at the uniform rate of 20% (will be changed after Nulgaria joins to EU). The buyer/lessee is entitled to a VAT refund, provided it is registered for VAT purposes.Corporation TaxAs some property interests in Bulgaria cannot be held directly by foreigners, buying through a local Bulgarian company is recommended. If you own a company in Bulgaria, note that in January 2005 the rate of income tax for a corporation in Bulgaria was reduced from 19.5% to 15%. The tax year in Bulgaria ends on the 31 December. A limited company must file an annual report by the 31 March. If you incorporated a limited company to purchase a house or land, then there will be no tax liability, as the company was not trading. However, you still must submit company accounts to the Companies' House Register in Bulgaria every year to satisfy the authorities that the company was not trading.