Q50: What is the REMI index for Rentals?
A50: Rentals REMI Index Apr 2004 - Jan 2006

01 April 2004: 100,00
01 July 2004: 97,50
01 October 2004: 112,20
01 January 2005: 114,20
01 April 2005: 116,70
01 July 2005: 118,80
01 October 2005: 121,80
01 January 2006: 123,60

Q51: I want to buy apartment in Sofia and I am contacting with a real estate agency, but as I am dealing with the agency just through the internet, I just want to be sure everything is according to the Bulgarian law and that there is no possibility for any criminal activity.
I have got the preliminary contracts, the name of the real estate agency, the company name of the constructor, company Nr., as well the real estate registration number and other details. Would it be possible to check if the company is really registered, the real estate is registered and will really be built in other words, if I am not dealing with internet criminals?
A51: You can check are the agency (and builder) real (legal registered) companies in this way:
Go to http://212.122.164.84/ddsRegister/search_criteria.jsp (this is one of the sites of Bulgarian Ministry of Finance but I do not know reverse DNS - you can check with WhoIS service like http://www.whois.sc/212.122.164.84) and search by name of the companies with BULGARIAN letters and 3rd option (left-down) checked or by BULSTAT number of the company (this is unique national statistic number) and select 1st option (top left).
If the real estate agency asserts it is member of NRPA (national Real Property Association) you can check there - http://www.nsni.bg/eng_index3.aspx?lang=US
more info >> http://212.122.164.84/ddsRegister/search_criteria.jsp
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Q52: I am from UK. Why I need to register company in Bulgaria if I want to buy land and what are preferred type of business organizations with foreign investment in Bulgaria?
A52: Because foreign nationals are not able to own land in Bulgaria directly (this law liable to change in next few years) foreign investor must register a local company if they want to own the land as asset of their business. The most common form of organization for foreign investors is Limited Liability Company. Other types are General Partnership, Limited Partnership, Joint stock company, Sole Proprietorship, Joint Venture, Holding, Representative office and more.
The extent of or amount of foreign participation in companies is not limited.
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Q53: What is needed capital for registering limited Liability Company in Bulgaria?
A53: The minimum required capital is 5000 BGN (about 2500 EUR). It is required that as least 70% (3500 BGN) of it is raised at time of registration. After the entire share capital has been paid up - these funds can be accessed withdrawn. You need to open a bank account.
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Q54: What is differents between "tax estimation price" and "purchase price"?
A54: The tax estimation price is for the purposes of real estate taxation and is much lower than the actual (market) price.
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Q55: How much cost house insurance in Bulgaria?
A55: It depends of region, company, type of property, type of furniture but is around 150 - 250 EUR per year
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Q56: I am from UK and I want to move to Bulgaria. If I fall ill what can I expect?
A56: At all times make sure you are covered by good health and accident insurance; you can get policies from the UK that will cover you in the event of an emergency. You can easily get local help for simple ailments and pharmacies will assist you in dispensing advice and potions where appropriate. The E11 reciprocal agreement is in force with Bulgaria so you can visit their doctors if you have the correct form from the UK officially stamped. Please visit your local post office in the UK to pick one up, complete it and then get it stamped at the counter.
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Q57: Is there capital gains tax or government tax (like stamp duty)?
A57: At present if you buy and sell your property before you have had it for 5 years you will have to pay a capital gains tax. This is aimed at trying to curb the speculators.
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Q58: Do I need a Solicitor for property bargain?
A58: You will need an advocate/notary and we do recommend you take unbiased legal advice. It is their legal obligation to make sure all documents are correctly issued and correct.
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Q59: How much would it cost to buy a house that is in good condition?
A59: It depends of region (sea, ski resort, country side, etc.). Average prices for house in good condition (need of small repairs) are (approximately) between 10000 and 25000 Euros for countryside, 25000-35000 EUR for house at seaside location. See the link in more info section and just browse to region where you are looking for home!
more info >> http://properties.guide-bulgaria.com
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