Should I do something else after the notary purchase of my Bulgarian real estate?
Last update: 2008-05-09 07:17:11
• First of all, within 7 days from the date of purchase you or your representative shall file an application for your Bulstat registration as a foreign owner of a Bulgarian real estate with the local Bulstat register. There is a temporary Bulstat certificate issued by the Bulstat register for a month or two which is afterwards replaced by a plastic Bulstat card. Your Bulstat number is actually your tax number under which you will be registered as a foreign owner of a Bulgarian real estate and pay the property taxes. Please, note that this is often overlooked by non-professionals representing property Buyers and leads to financial penalties for the property Buyers failing to register with the Bulstat register on time. • Therefore, within 2 months from the date of purchase you or your representative shall file a tax declaration with the local tax authority declaring the acquiring of the ownership rights. Once again, in numerous cases those actions are not performed in a timely manner which leads to financial penalties on behalf of the Bulgarian Tax Office towards the unsuspecting property Buyers.