Bulgaria property news and articles

There are several costs involved in the actual Bulgarian property transfer: stamp duty, the notary fee and registration tax.

Stamp Duty

Stamp duty, or the so-called transfer tax, is paid by the buyer and goes to the local municipality where the property is situated. The amount of the tax is 2 per cent on either the tax evaluation or the purchase price, whichever is the higher. The transfer tax is either paid to the notary or paid by bank transfer to the municipality, and the bank document is presented to the notary.There are also bank charges for the transfer, which depend on the amount transferred and the bank charges of the particular bank.

The procedure for buying a property in Bulgaria is different from the procedure in the UK. This is so, not only because the law and the legal system as a whole are different, but also because of the different habits and traditions of the country. There are some similarities, of course, but in general it is best to understand the specifics and the procedure, rather than try to compare it and make conclusions on the basis of what you know from the UK property buying process.