A recent decision by many countries abroad will mean that some vehicle rental companies will require proof of previous motoring penalties from those intending to hire a car from them.
The process of liquidating a Limited Liability Company (Single Limited Liability Company) is a long process that doesn't end for at least 6 months.
It's known but rarely thought of that the laws in other countries will be different from those of your home country. Much to the dismay of immigrants the world over, they arrive and live in the new country for long periods of time only to find out something that was common in their own culture will get them arrested, their children taken away or worse in their new country. An article last year spawned a significant debate among the immigrant and expat communities that highlights just how drastic some of the legal differences can be.
In 2007/2008 many foreign investors signed Preliminary agreements for off-plan purchases of real estates mainly in the Bulgarian resorts Bansko, Sunny Beach and Pamporovo. The subjects of the agreements are usually properties in the process of construction.
Several common mistakes are often made by buyers of Bulgarian property. We take a look at the top five most frequently made errors with Preliminary Contracts and what to watch out for.
Not reading your preliminary contract at all
You may feel that this is absolute nonsense but believe us, there are many people who buy without reading even a single clause of their preliminary contract.
The notary and his role is often confusing for foreigners to understand including the division of some of the legal practitioners in Bulgaria and in particular the difference between the notary and a lawyer, and what they both do.
Engaging a lawyer and the way you go about buying land and property in Bulgaria can have radically different consequences for your investments. Property in Bulgaria is still exceptionally cheap in comparison to other EU countries. The key to wise investment and a good return is to avoid common pitfalls made by many foreign buyers not just in Bulgaria but in other foreign property markets too.
For non EU members who want to be employed in Bulgaria, an application must be made to the Employment agency in order to get a work permit.