Registering Property in Bulgaria

This topic examines the steps, time, and cost involved in registering property in Bulgaria.

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Standardized property

Property Value: BGN 422,186
City: Sofia

Registration Requirements Summary:


  Procedure Time to complete: Cost to complete:
*1 The sketch of the estate is drafted by the respective Municipality 4 days (simultaneous with procedures 2, 3, 4, and 5) BGN 20 for an express procedure (4 days), BGN 16 for a fast procedure (7 days), BGN 10 for a regular procedure (14 days)
*2 Obtain a tax valuation of the property 4 days (simultaneous with procedures 1, 3, 4, and 5) BGN 28.8 for an express procedure (4 days), BGN 21.6 for a fast procedure, BGN 17 for a regular procedure (14 days)
*3 Issuance of certificate of good standing for seller and buyer 1 day (simultaneous with procedures 1, 2, 4, and 5) BGN 5 each
*4 Obtain a non-encumbrance certificate from the Real Estate Register 5 days (simultaneous with procedures 1, 2, 3, and 5) BGN 5.90
*5 Obtain a tax clearance certificate 7 days (simultaneous with procedures 1, 2, 3, and 4) no cost
6 The notary executes the transfer deed 1 day 2% of property price (local tax) + 0.1% of property price (Registration fee) + notary’s fees according to scale
7 Registration of the notarized deed at the Registry 1-3 days Already paid in Procedure 4
8 Parties receive a copy of the registered deed 1 day no cost
* Takes place simultaneously with another procedure.

Registration Requirement Details

Procedure 1.
The sketch of the estate is drafted by the respective Municipality
Time to complete:
4 days (simultaneous with procedures 2, 3, 4, and 5)
Cost to complete:
BGN 20 for an express procedure (4 days), BGN 16 for a fast procedure (7 days), BGN 10 for a regular procedure (14 days)
Name of Agency:
Local Cadastre Agency
Comment:
The draft of the estate is a graphic sketch of the estate with its borders, square meters, and number of the area where the estate is situated. This draft is issued at the Cadastre of Real Estate.
Procedure 2.
Obtain a tax valuation of the property
Time to complete:
4 days (simultaneous with procedures 1, 3, 4, and 5)
Cost to complete:
BGN 28.8 for an express procedure (4 days), BGN 21.6 for a fast procedure, BGN 17 for a regular procedure (14 days)
Name of Agency:
Sofia Municipality
Comment:
The tax valuation of the property is issued by the respective tax authorities. A tax valuation is mandatory for every property transfer.
Procedure 3.
Issuance of certificate of good standing for seller and buyer
Time to complete:
1 day (simultaneous with procedures 1, 2, 4, and 5)
Cost to complete:
BGN 5 each
Name of Agency:
Registration court
Comment:
As of January 1, 2008 all companies in Bulgaria are registered by the new centralized Commercial Register.
Companies in Bulgaria are registered with the respective regional court depending on the address of the company. This certificate is issued by the registration court.
The certificate is needed to show that the company is registered and existing, and that the person who signs on behalf of the company is actually the authorized person to sign. The certificate can be obtained online since 2009.
Procedure 4.
Obtain a non-encumbrance certificate from the Real Estate Register
Time to complete:
5 days (simultaneous with procedures 1, 2, 3, and 5)
Cost to complete:
BGN 5.90
Name of Agency:
Real Estate Registry
Comment:
Procedure 5.
Obtain a tax clearance certificate
Time to complete:
7 days (simultaneous with procedures 1, 2, 3, and 4)
Cost to complete:
no cost
Name of Agency:
Local Tax Department
Comment:
The tax clearance certificate, showing that no taxes are owed, is obtained from the local tax department for both the buyer and the seller, according to Taxation and Insurance Procedure Code in effect as of 1 January 2006, namely Art. 87, paragraph 6.
Procedure 6.
The notary executes the transfer deed
Time to complete:
1 day
Cost to complete:
2% of property price (local tax) + 0.1% of property price (Registration fee) + notary’s fees according to the following scale and with a maximum of BGN 3,000:
Value of Property
Name of Agency:
Comment:
The notary executes the transfer deed and collects the money for payment of the state fee (transfer tax) and the registration fee. Usually the notary pays the state and registration fees. This is done for the clients’ convenience. The parties can pay the fees at the account of the tax authority where the estate is situated and bring the receipts to the notary.
Procedure 7.
Registration of the notarized deed at the Registry
Time to complete:
1-3 days
Cost to complete:
Already paid in Procedure 4
Name of Agency:
Registry
Comment:
The notary will register the notarized deed at the registration office with the respective district court. This can be done by the parties too, but it is most common that the notary will do it (and it is included in the above fees). The notary will pay registration and state fees collected previously. Registration should take 1 day, but it can take up to 3 days during busy periods.
Procedure 8.
Parties receive a copy of the registered deed
Time to complete:
1 day
Cost to complete:
no cost
Name of Agency:
Comment:
Parties will receive a copy of the registered deed the same or next day the deed has been registered by the notary