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Buy Land in Bulgaria - Support for Foreign Citizens and Investors

Buy Land in Bulgaria

Updated on Monday 08th August 2022

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Buy-Land-in-BulgariaMoving to Bulgaria as an expat is possible by renting or buying a property here. The most important thing to consider is that as a foreigner you cannot buy land in Bulgaria, but you can acquire a house with a plot if you are an EU or EEA citizen. If you are not citizens of these countries, you can access the golden visa scheme that has certain advantages. Restrictions will also be lifted once you become a Bulgarian resident.
 
Below, our immigration lawyers in Bulgaria explain the main steps related to acquiring land here as a foreigner. You can rely on us for the completion of the procedure.
 

Steps to buy land in Bulgaria as a foreigner

 
There are two exceptions when it comes to foreigners buying land in Bulgaria. Under the first one, you are an EU/EEA citizen. Under the second one, you own a Bulgarian company through which you can acquire the desired plot.
 
These are the steps you need to complete in order to acquire land in this country:
 
  • check the land you are about to purchase and make sure there are no restrictions on it;
  • sign a pre-sale agreement and make an advance payment to secure the transaction;
  • complete the transaction by transferring the remaining amount of money to the account of the seller;
  • register the property with the Bulgarian Land Register and obtain the title deed.
 
As a non-EU/non-EEA citizen, you can also open a company through which you can buy land in Bulgaria or enter the golden visa program. It enables the acquisition of real estate as an investment with a minimum value of 300,000 euros.
 
Our Bulgarian lawyers are at your disposal if you want to enter the residency by investment program and buy land in Bulgaria
 

Options for non-EU/EEA citizens to acquire land plots

 
Foreign citizens from non-EU/EEA countries and are interested in immigration to Bulgaria can acquire land, including agricultural plots if they have lived in Bulgaria for at least 5 years. This will enable them to obtain permanent residency and thus obtain additional rights. After an additional 5 years of residency, you can apply for Bulgarian citizenship, and thus obtain full rights, including being able to purchase land as any other citizen.
 
Our immigration lawyers in Bulgaria are at your disposal with various services, including assistance in relocation matters.
 

UK citizens buying land in Bulgaria

 
At the end of 2020, the UK completed its exit from the European Union which means that British citizens interested in acquiring land in Bulgaria now must apply for the golden visa program or set up companies in order to be allowed to own plots here. If you are interested in any of these options, we encourage you to get in touch with us.
 

Taxes to consider when buying a Bulgarian property

 
Buying a property or land in Bulgaria implies the payment of a few taxes and fees. These are connected to the value of the said property, as it follows:
 
  • notary fees are the first to consider and they are calculated based on the Notary Fees Tariff to which the 20% VAT rate applies;
  • a 0.1% fee of the value of the property will be paid upon the registration with the Property Register governed by the Ministry of Regional Development;
  • the municipal council tax which is levied at 0.1% to 0.3% of the value of the property;
  • the real estate agency fee ranges between 2.5% to 3% of the amount of the transaction, when such services are used.
 
Becoming a property owner in Bulgaria opens the pathway to tax residency which comes with one of the lowest incomes taxes in Europe: 10%.
 
Contact our law firm in Bulgaria for more information immigration to Bulgaria and tax-related matters and the procedures when you buy land in Bulgaria
 

Tips for buying land in Bulgaria

 
Buying real estate in Bulgaria is not complicated, and one of the most important things you need to know that prices are per square meter, not for the entire property. The advantage is that you can calculate the size of your future property and make an informed decision.
 
If you want to buy land in Bulgaria as a foreigner from a non-EU country, we recommend the Golden Visa scheme, as the processing time is about 6 months. The costs of buying any type of property can be up to 80% cheaper in terms of taxes and fees compared to the United Kingdom. From a taxation point of view, you must consider the property tax and the municipal levies.
 
The property tax in Bulgaria is levied at a rate of 0.15% of the evaluation of the respective real estate and must be paid annually.
 
With one of the lowest living costs in Europe and appealing cities to invest in, such as Sofia, Varna, and Bansko, Bulgaria is an appealing investment destination for those who want to have a house or apartment here.
 
If you want to buy land in Bulgaria and need support, contact our local law firm. We are at your disposal with tailored services for foreign citizens and investors.