Here are many reasons to hire a lawyer for your Bulgarian real estate needs. You do not necessarily have to be involved with any litigation to benefit from a qualified attorney's counsel and assistance in a variety of matters including a real estate closing where an attorney can protect you from costly mistakes, errors in the documents, errors in the figures and other problems that could lead to litigation or other expensive legal action.
The first main reason to hire a lawyer in Bulgaria is one restriction in Bulgarian legislation, which disallows foreign legal and physical persons to acquire direct ownership of land. There is no restriction as to apartments, garages, ateliers, shops, but in case of purchasing land on the territory of R. Bulgaria by foreigners, the above-mentioned restrictions can be avoided with the registration of a company on the territory of the country. The mostly used way by non-residents to become owners of real estates with land is to establish their own company. The most appropriate types of companies for carrying out business in Bulgaria are: a private limited liability company or a single-person private limited liability company. Our professional solicitors and lawyers will set up your company in just few days (4-5 days) and you?ll be able to sign all the papers and contracts for the purchase on your company name. If you don?t have few days you have to be free only 4-5 hours and to authorize one of our solicitors or lawyers to continue and finish the whole process on your behalf. We will help you to open dedicated bank account to collect all share capital. The minimum share capital required is 5,000 leva, which you can draw out when your company is added to the Commercial Register of the district court (1 week after the beginning of the whole process) of where the company will be based.
Finally, your new company will need to register immediately with the National Revenue Agency, which is a part of our obligations.
The second main reason to use our legal services is to convince yourself that all the documents of the property you choose are clear, that means: the real estate has not been handed over to other persons and no authorization has been granted to other persons to sell this real estate, as well as no other pre-contracts have been concluded in respect of this real estate; as for the present time no arrests, mortgages or real burdens exist, nor have rights of use or rights of way been established with respect to this real estate; that the real estate is not subject to restitution and there are no pending legal disputes on it. This service is part of one of our main services - transfering a property. This is the final stage when you will complete the purchase and become the new owner of the property. The whole process of buying a property will be managed and watched by our lawyers. This service is available and independent even if you don’t buy a property with us. Our Lawyers & Solicitors will be happy to help you to transfer the property.
