At present, although the law is set to change by the end of March 2005, a non-Bulgarian national is not permitted to own land in Bulgaria. Therefore, for almost all property purchases it is necessary to form a limited company that can own land and register yourself as a company director.
VAT is generally exempt in transactions involving land and lease of property for residential purposes. However, levied at 20%, it pays to ask the agent if the property is exempt or if VAT is chargeable if it is included in the purchase price.
Law for the foreigners in the Republic Of Bulgaria
Entering of foreigners in the Republic Of Bulgaria
Art. 8. (1) A foreigner shall be able to enter in the Republic of Bulgaria if he has valid document for travel abroad or other substituting document as well as visa for entering, stay or for transit passing through the country when such is required.
(2) Visas shall not be required when between the Republic of Bulgaria and the country which citizen is the foreigner there is a concluded agreement or there is an act of the Council of Ministers of the Republic of Bulgaria for visa free regime.
(3) (New, SG 42/01) Not required shall be visas for a short-term stay or transit passing by foreigners, legally staying in a country with whom the Republic of Bulgaria has established a non-visa regime, if they are students travelling within the frames of a school trip and accompanied by a teacher who has a list of the students, issued by the respective school. The list shall contain:
1. data individualising each participant in the trip;
2. purpose of the trip;
3. recent photo of every student who has no regular document for travelling abroad or other substituting document according to the legislation of the country from which he comes.
