Taxes on real estate in Bulgaria. Notary fees

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Taxes on real estate in Bulgaria. Notary fees

When planning the purchase of real property, every future owner would like to be clear about what expenses might arise for the certification of the transaction by a Notary Public and from the subsequent use of the dwelling.
Notarial procedure for certification of the documents for the title to the property, i.e. the conveyancing, in Bulgaria is carried out in several stages. The entire procedure (preparation, state taxes, notarial services and all subsequent registrations of the transaction) requires the allocation of 4-5% extra over the property value.
We will explain in detail how these expenses are calculated:

1. Tax on the acquisition of real property – 2-3 % (of the tax assessment). Plus 1% on the amount of the tax itself for bank charges.

2. Fee for registration with the property register – EUR 150.

3. Notarial fees (depending on the price of the acquired property).

If the price is:

up to EUR 25,000:                                      EUR 80 + 0.8% for sums over EUR 5,000

from EUR 25,000 to EUR 50,000:            EUR 240 + 0.5% for sums over EUR 25,000

from EUR 50,000 to EUR 250,000:          EUR 365 + 0.2% for sums over EUR 50,000
sums over EUR 250,000:                          EUR 765 + 0.1% for sums over EUR 250,000

4. Preparation of a title deed – from EUR 200 (also depends on the price of the purchased property and the region where the transaction is performed; normally the price for the preparation of the title deed is equal to the notarial fees under item 3).

 5. Declaration of the real property to the tax and cadastral authorities and the Bulstat register – EUR 100 (in case of two owners, in the event they are spouses, EUR 20 per person for every additional owner).

6. The interpreting services are paid additionally at the moment of signing the title deed in the presence of a Notary Public.

7. In the event the buyer is not able to attend the certification by a Notary Public, he or she may grant a power of attorney in favour of his/her relatives or our lawyers;  in this case there will be additional costs for the preparation of the power of attorney and its translation.

All these expenses account for 4-5% of the value of the flat or the house. These expenses are one-time, incurred only upon the purchase.  
In the course of use of the house or flat, the owner shall pay the following taxes on an annual basis:

1. Annual real property tax      -        0.2% of the tax assessment of the property.

2. Refuse collection tax            -        0.15% of the tax assessment of the property.

The owner may pay the annual taxes by bank transfer using e-banking. It can also be done through our associates. During the transaction, our lawyers will explain in details what taxes you will have to pay, and the accountants will advise you how to make these payments.

If you have any questions regarding the amount of the taxes, the deadlines and methods of payment, the tax base on which they are calculated – forward them directly to our consultants and they will give you more detailed information!


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