Bulgaria

Population: 7.500.000
Area: 110.912 km2
Capital: Sofia
Language: Bulgarian
Currency: lev(BGN)
Gdp per capita: $8.200
Gdp Growth: %5.3
Dialing code: + 359
Emergency service: 150
Embassy phone in Ireland: 016603293
Visa requiry: not for up to 30 days
Dublin - Sofia distance: 2.485 km
Agent Fees: %3 - %5 paid by seller
Legal fees: €300 - €800
Season High: May to Oct (summer resorts) - Nov to March (ski resorts)

Buying Process and taxes * At present a foreigner can buy buildings, but not a land in Bulgaria.  This means that Irish buyers who wishing to buy villas or any landed properties must set up a company through which to purchase.  This can take up to one month, including registering the company with the relevant state institutions, but this should not discourage buyers. * There are certain fees must be paid as part of buying process (which vary from agent to agent, or from lawyer to lawyer) as well as local state taxes (generally less than 200) * Nominal fees must be paid again to change the registered address of the company to that of your new property.  VAT is charged on these fees at 20% * Furthermore refundable deposit of around €2,600 must be lodged with a registered bank returnable on registration. * Those not buying land will face a much simpler process similar to Irish procedures:  once you have selected a property contacts are drawn up at which point a deposit must be payable) and full payment is required on exchange (when buying off plan payment is normally split into three stages but this varies according to the developer) * Transaction costs will include a 2% property tax on purchase and a fee to the notary of around 1% of purchase price.  Annual rate are usually below 150 depending on location and property type.