If you’re keen to sell property in Bulgaria to Golden Visa buyers, the information given here will be very useful to you. One of the easiest ways to get residency permits in a European country is by getting the Golden Visa in Bulgaria.
This requires an investment of 300,000 Euros in Bulgarian real estate, which is a relatively small sum for the high net worth individuals this scheme is targeted at. Bulgaria also has a fast track scheme which allows a Golden Visa seeker to get citizenship in very short time.
There are over 350,000 Russians in Bulgaria who own property here. Russians are known to have made investments of over 18 billion Euros in Bulgarian property already, and the greatest demand for the Golden Visa in Bulgaria is expected to come from them. The Bulgarian real estate market looks to be on the way up after a prolonged slump following the 2008 global economic recession.
Polina Stoykova, Managing Director of BULGARIAN PROPERTIES explains why things are looking for the Bulgarian real estate market in 2015: “An important element of the new market reality is the return of the confidence in the property market. More and more buyers are thinking of buying property because real estate is a safe real asset and good investment.
“This understanding coincided with a very favorable moment in the property market development, because real estate prices are currently at levels from 10 years ago and respectively, the properties are much more affordable. We could also add to the picture the improved mortgage conditions now offered by the banks.
“In conclusion, we can say that 2014 is going to turn into the most successful year for the real estate market in Bulgaria since the beginning of the crisis. Of course, we are not overoptimistic because there are some negative trends as the outflow of the Russian buyers and the still lower volume of property sales compared to the pre-crisis years. However, it is clear and obvious that the buyers have permanently returned”.
Golden Visa in Bulgaria – The Details
If you’re looking to sell property in Bulgaria to Golden Visa buyers, it would help to know how the scheme works. Let’s understand why the scheme is so popular first. Why are foreign investors looking to invest in a Golden Visa in Bulgaria? Micha Emmett, managing director at CS Global Partners, offers an explanation: “There are a multitude of reasons why clients would invest in a second citizenship. These range from mobility to opportunities for business or family, for example education.”
One may get the Golden Visa in Bulgaria by buying properties worth 300,000 in the country. For this, one may buy one property worth 300,000 Euros, or two or three properties worth that much.
The only consideration is that the applicants should not have any prior criminal record and they should be over 18 years of age. Their immediate family members – spouses and children – are also given the necessary residency permits as well. The only issue is that Bulgaria is not a part of the Schengen Zone, so those who get the Golden Visa in Bulgaria are not allowed unrestricted travel through the member nations of the European Union.
The important thing is to have sufficient funds to deposit. Applicants are only supposed to visit Bulgaria for 2 days, and make a few visits later. There is no compulsion to stay for a certain time in Bulgaria, which is a great advantage.
You should use the information given here while looking to sell property in Bulgaria to Golden Visa buyers from Russia, China and other countries. Contact us today to sell your property in Bulgaria.