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Bulgarian Property Facts

factfile for bulgarian propertyQuest Bulgaria gives a rundown of essential information on the property buying process in Bulgaria. Estate Agents: Real estate agents in Bulgaria are not regulated, so buyer beware. They usually do not give much information about an individual property and you will find it difficult to get the exact address. You are accompanied by them when viewing property. Fees are usually 3% from both vendor and buyer but as the industry is unregulated fees can be any amount, so check first.

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European Health Card

health care in bulgariaIf you are travelling to Bulgaria, or planning a permanent move, health care is of primary concern. We take a look at European health care insurance in Bulgaria. A European Health Insurance Card (EHIC) entitles you to reduced-cost, sometimes free, medical treatment that becomes necessary while you're in a European Economic Area (EEA) country or Switzerland. The European Health Insurance card, or EHIC is the replacement for the E111.

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Questions and Answers - Part Two

legal questions bulgarian propertyQ: How is abandoned property and land treated in Bulgaria? In the UK you can claim property via the Land Registry, then if the property or land is not claimed after a six month period, it is then yours.

A: In order to obtain abandoned property and / or land in Bulgaria you have to prove undisturbed and constant possession for a period of at least ten years. The procedure takes place before a notary and involves preparation of a title deed. It is based on your own claim, which has to be supported by the testimony of two witnesses.

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Did You Read Your Contract?

place emphasis on the contract detailsWe have heard many a time from foreign buyers about problems with off plan property purchases in Bulgaria. In particular relating to their discovery that they didn't get that free kitchen or use of the development's jacuzzi, which they thought was part of the deal. Frequently this turns out to be down to what was, or was not, included in the detail of the preliminary contract and deeds.

Buyers often feel cheated by the agents and the glossy brochures but this is marketing "puff" and it is only what is in the contract which counts.

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New EU Real Estate Agents Standards

eu real estate and property standardsBulgarian real estate agents selling property in Bulgaria will soon have to contend with new EU standards. Over the coming six months or so, new standards regarding property professionals are going to be adopted in Bulgaria, Maya Staneva, the Executive Director of the Bulgarian Institute for Standardisation, said.

EU real estate standards have been in the pipeline for several years and naturally Bulgaria will need to comply with EU requirements. Currently Bulgarian estate agents selling Bulgarian property are not regulated and people working in this sector need no qualifications to do so.

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Getting Divorced

the holiday's overEveryone who makes a permanent move to Bulgaria does so with the hope of a bright new shining future ahead of them. However when the novelty value and newness of living abroad wears off, some couples find that whilst they still love Bulgaria, they no longer love each other. Naturally, one or both of you can return back to the UK and qualify for a divorce under UK law after six months of permanent residency again, but for those who still want to experience the Bulgarian dream getting a divorce here is not that straightforward.

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Drinking and Driving

Drink Drive laws in BulgariaWe all frown at the thought of getting into a car whilst intoxicated, but many people do this without realising; some do it on the basis that they have only had one alcoholic drink, others that they don’t have far to go. Drinking and driving used to be perfectly acceptable in Bulgaria, with police often turning a blind eye to the odd whiff of alcohol, however, the increase in road traffic accidents has forced the government to make some stark changes to the law, which have even forced once carefree Bulgarian drivers to take note.

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Setting up a Company in Bulgaria

buying bulgarian property with landWhen purchasing property in Bulgaria, if the real estate comes with land, it is necessary for foreigners to establish a Bulgarian company. Usually, this is a simple limited liability company but there are also other popular forms of companies for foreign investment.

According to the terms of Bulgarian Commercial Act, share participation in Bulgarian commercial companies could be acquired in the following types of company.

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Tax considerations: Part 2

more tax considerationsIf you are considering an investment in Bulgaria or just a permanent move here, you need to understand what taxes you have to pay. Jonathan White author of “Buying a Property in Bulgaria” takes us through the steps needed to understand the Bulgarian taxation system.

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Renewing Your Driving Licence at 70

renewing a licence at 70On reaching your 70th birthday, your freedom behind the wheel comes into question – are you safe enough on the roads? Undoubtedly in Bulgaria where the locals drive like frustrated versions of Michael Schumacher, you should have no problem in convincing the authorities that you are totally roadworthy unless of course you are now blind – even the Bulgarians draw the line at this.

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