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LATEST OFFERS |
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house ;
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27,000 GBP;
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district of Montana
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house ;
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16,000 GBP SOLD;
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district of Montana
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Building Plot ;
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30 Euro per M;
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district of Sofia
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villa ;
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39,000 GBP;
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district of Pazardzhik
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Building Plot ;
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1,000,000 Euro;
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Greece
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Apartment ;
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30,000 GBP;
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district of Bourgas
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house ;
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8,000 GBP;
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district of Pazardzhik
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Advertise here
15€ EUR / 12 months |
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 ABOUT BULGARIA |
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General info
Why invest in Bulgaria |
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General Info |
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Location
Bulgaria is situated in Southeast Europe and occupies the eastern part of the Balkan Peninsula.
To the north it borders on Romania, to the west on the Republic of Macedonia and the Federal Republic of Yugoslavia, to the east on the Black Sea, to the south on Greece and to the southeast on Turkey's European part.
Area: 111.000 sq km. |
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Relief
Extremely varied: large plains and lowlands, low and high mountains, valleys and lovely gorges.
Climate
Temperate continental with clearly marked four seasons.
A Mediterranean influence is felt in the country's southern regions.
The average annual temperature is 10.5°C.
The average January temperature is around O°C.
Average summer temperatures rarely exceed 30°C.
Population
7,973,673 |
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Language
Bulgarian.
English, German, French and Russian is spoken in the country's resorts, hotels and restaurants.
Alphabet
Cyrillic. Signs along international motorways, in airports and resorts are also spelled in Roman letters.
Religion
86.6% of the population are Orthodox Christians, 13% are Muslims. The Bulgarian Church is autonomous and headed by a Patriarch.
State government
Bulgaria is a parliamentary republic with democratic government.
Official holidays
January 1 - New Year
March 3 - Bulgaria's Liberation from Ottoman rule - the National Day
Easter - one week after the Catholic Easter
May 1 - Labour Day
May 6 - Bulgarian Army Day
May 24 - Day of Bulgarian Enlightenment and Culture and the Slav Script
September 6 - Bulgaria's Unification
September 22 - Independance Day
December 25-26 - Christmas
Capital
Sofia (pop. 1,141,000)
Large Cities
Plovdiv, Varna, Veliko Turnovo
Taxations
Bulgaria is politically stable country and the introduction of a currency board in 1997 stabilized the country’s economy. However, as is the case in Central and Eastern Europe, legislation, including that governing real estate, is volatile and subject to frequent change. A foreign investor can invest in properties in Bulgaria either directly or through a local entity. 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. In some limited cases, acquisition of immovable property by non-residents requires prior permission of the Ministry of Finance. Foreign investors are guaranteed full repatriation of profits resulting from an investment in Bulgaria. The transfer abroad can be made only after the bank effecting the transfer is presented a certificate providing payment of all Bulgarian taxes due.
Investing through a local entity versus direct investment
As indicated above, a foreign investor can invest in properties in Bulgaria either directly or through a local entity. In case of a direct investment, the tax treatment of the foreign investors depends on whether or not their activities constitute a permanent establishment. The definition of a permanent establishment under Bulgarian law is very broad: the mere fact that a foreign company owns and rents out property in Bulgaria (except where such activity is carried out through an independent agent) may create a permanent establishment under domestic law. The various tax treaties entered into by Bulgaria usually contain a narrower definition of permanent establishment. If the activities of a foreign person owning real property in Bulgaria do not constitute a permanent establishment, the person will be liable for only 15% withholding tax on the rentals and capital gains, unless an even lower rate is applied under a double tax treaty.
Rental income
The basis of the taxable income of a company, investing in Bulgarian real property is the gross income derived from the property less tax-deductible, property-related expenses and depreciations. Such expenses include repairs, maintenance, renovation and similar costs and interest on loans used for the acquisition of the property. A Municipal Tax at a rate of 10% of the profits is due. This is then deductible in calculating taxable profits which are subject to a flat corporate tax rate of 25%. |
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