Legal Blog

Why Hiring a Lawyer is Essential When Buying or Selling Property

Buying or selling property is one of the most significant decisions in anyone’s life. Whether it’s a first home or an investment property, the process involves numerous legal and financial complexities that require specialized expertise. For this reason, hiring a lawyer during the transaction is not only advisable but also crucial. Legal Due Diligence on the Property The first and perhaps most critical step in purchasing property is conducting legal due diligence.

The new rules for transferring real estate or motor vehicles in Bulgaria.

New rules for notaries come into force this year, which will have a significant impact on transactions related to real estate or motor vehicles. According to the latest legislative changes, effective from 03 May 2024, a new process for verification by notaries will be introduced. They will have to carry out an electronic check in the NRA to establish the presence or absence of enforceable public obligations of citizens who want to transfer real estate or motor vehicles.

Guest house or apartment for bed and breakfast

In recent months, we have received numerous inquiries and provided various services related to the conditions and procedures for registering a “Bed and Breakfast or Guest Apartment.” Bed and Breakfasts and guest apartments are regulated by the Tourism Act. To register them, an application must be submitted to the mayor of the municipality or an authorized person, depending on the location of the property. Owners can choose to register either as individuals or through a company.

Procedure for registration of short-term employment of posted workers-citizens of third countries

Seconded foreign workers can perform certain tasks without a work permit, only a one-time registration with the Employment Agency is required. Seconded workers and employees-citizens of a third country carry out labor activities on the territory of the Republic of Bulgaria only for the specific host enterprise, which has submitted a declaration to the Employment Agency before the start of employment. The procedure for registering short-term employment of posted workers from third countries in Bulgaria involves several steps and required documents.

Black Friday for Bulgarian rural properties purchased by the English.

More than 15 years ago, citizens of the United Kingdom started buying properties in Bulgaria massively. They were attracted by what seemed like a good investment and the dream of owning a beautiful house with land in a quiet and picturesque village or a house/apartment in a developing city, without bothering to thoroughly research the market. If the properties seemed cheap back then, they probably were truly cheap—hastily built or renovated.

Moving business from Ukraine to Bulgaria

War is never a good thing. Ukraine had many thriving business which are suffering right now. One of the solutions is to move business and employees (as much as it can be done) to a close friendly country. Why Bulgaria is good place to move your Ukrainian business Bulgaria is relatively close, but far enough to be safe from the conflict. It’s part of EU and NATO. Black sea coastal cities such as Varna and Burgas offer great opportunities with fair price accomodation and business.

Got a Bulgarian property? Act now, so you don't loose it for good!

If you have bought a property in Bulgaria as an investment in the past decade or so , you should be aware of the recent practices of the local councils to put unattended properties on actions. Find below the most common THREE WAYS you could lose your property if you are neglecting your investment in Bulgaria. Unpaid council taxes Many people think that once they have invested in Bulgarian property, there are no further obligations, besides the conveyancing costs.

Ill-advising property agents in the area North of Varna

If you have bought a rural property in Bulgaria back in mid 2000s, you know it’s not too easy to maintain it if you are not living permanently in the country. Because of Covid-19 restrictions, many Britons now feel they can’t use their rural houses and are willing to sell them on loss, especially in Dobrich region, North of Varna. If your case is similar, be careful not to fall into the trap of the still unregulated profession of the “property agent”.

Own a property in Bulgaria? Act now, so you don't lose it for good!

All companies in Bulgaria which are not re-registed by the end 2020 will lose their real estate properties. Do you own a property through a limited company in Bulgaria? Please read below, as you might be affected by a major law change concerning your property. History of the process If you have bought a property in Bulgaria before 2010, most probably you have set up a limited company in Bulgaria as well.

Buying or creating an airline in Bulgaria (AOC holder)

All airlines and AOC holders, registered in Bulgaria benefit of the country’s EU membership and all connected Single Sky and Open Skies agreements. Country’s location is quite beneficial as it is almost in the middle on the route between the large airport hubs of the Middle East (Dubai, Doha etc.) and Western Europe’s largest airports (Frankfurt, Paris, London). Status of Bulgaria in the aviation industry Bulgaria is EASA member and for all AOC holders and airlines, registered in Bulgaria, the EASA rules apply in full.