Buying a property in Bulgaria is a wise and strategically correct decision. If you have already done this we are sure that you can already see and feel the benefits of this purchase. What you should remember, though, is that you have a whole pile of different obligations and requirements that you need to meet in order to be compliant with the local authorities. In this section you will be able to find an useful list of your main obligations that you need to take into serious consideration. We realise that this may seem con fusing and even frightening (especially to foreigners), but do not worry for a thing! This is what we do, this is what we are good at and this is what hundreds of property owners just like you have already entrusted to us!
When buying a property in Bulgaria no matter if it is as non-resident individual or through legal entity your obligations on local level are the following:
Property Declaration within 2 /two/ months of property acquisition for both land and/or building with the respective municipality. The property could be declared either for residential or trade purposes. On the base of the declared information Local Property taxes need to be paid.
Bulgarian Local Property taxes are payable quarterly and vary per location/municipality. Usually they consist of Garbage fee and Council Tax. The taxes are calculated in compliance with the Tax evaluation of the property (defined each year) and the rates accepted by each different Bulgarian Municipality.