Property Fees Calculator in Bulgaria - Bulgarian Property Taxes Calculator (2024)

FAQs

How much is Bulgarian property tax? ›

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property.

Payments can be made in cash at the local tax department for your respective municipality, by bank transfer, at a virtual POS terminal, as well as at any of the Easy Pay offices. According to Bulgarian law, local taxes such as property tax, vehicle tax, and bin collection fee can be paid in two installments.

The transfer of Bulgarian real estate is subject to a transfer tax @2% plus a State Entry fee of 0.1% of the purchase price (Notary Deed price).

Reasons why in Bulgaria cheap property, a few: The consequences of the 2008 crisis and the sharp drop in demand, causing prices have fallen by 40%. Lower purchasing power of the population compared to an average level. The socialist heritage of the country.

1. New Jersey. New Jersey earns the top spot as highest property taxes not only in property tax rate, which is over the 2% mark, but in the actual dollars spent in property taxes; here the average home value is the highest on the list.

The standard VAT rate is 20%. A reduced VAT rate of 9% applies to certain tourist services. The reduced VAT rate of 9% on baby foods and hygiene products, as well as on books, is made permanent (it was due to expire at the end of 2022).

Visa to Bulgaria for property owners

The real estate owners can get a 3-year visa. At the same time they can stay in the country 180 days a year. There are no strict requirements t flats, houses. The conditions that must be observed are similar to the terms when obtaining a residence permit.

If you want to buy land in Bulgaria as a foreigner from a non-EU country, we recommend the Golden Visa scheme, as the processing time is about 6 months.

Individuals are taxed in Bulgaria based on their tax residency status. Bulgarian tax residents are taxed on their worldwide income. Non-residents are taxed in Bulgaria only on their Bulgarian-source income, which has a very broad legal definition.

Transfer pricing

Bulgarian law requires that taxpayers determine their taxable profits and incomes applying the arm's-length principle to prices at which they exchange goods, services, and intangibles with related parties (transfer prices).

What is the property tax in Varna? ›

Varna – 0,15%; Sofia – 0,32%;

The tax was income based, taking 6% of the childless person's wages. Measures to try to introduce a bachelor tax in Bulgaria first began in 1917, where it often took on a pro-eugenic character and part of discussion amongst Bulgarian Fascist party officials.

Bulgaria has proved to be a preferred destination for many international buyers. It offers the best property prices in Europe and a variety to choose from - beach and ski resorts, vibrant cities and beautiful countryside for holiday or relocation.

If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.

Bulgarian law allows foreigners to own property in the country, but, however, there are some restrictions. A foreigner can buy a property in their own name, provided that the property doesn't come with the land it is built on. In most cases, apartments in Bulgaria are sold without land.

All of the data below comes from the Census Bureau's 2021 1-year American Community Survey (ACS) Estimates. Hawaii has the lowest property tax rate in the U.S. at 0.27%. The Aloha state has a home median value of $722,500.

For example, property taxes in Tampa, Fla., rose by 18% from 2019 to 2021, the highest percentage-point jump in the country, according to a report from LendingTree. But it's New Yorkers who pay the most in the country—a median of $9,091 a year—followed by San Jose, Calif.

At the metropolitan level, those in Texas and New York headline the list of locations with the highest property taxes. Texas places four major metros in the top 15, while three New York metros are represented—including Rochester, which has the nation's highest property taxes at a 2.4% effective rate.

Bulgaria opens our list as the country that has one of the lowest tax rate in Europe. The country's 10% flat rate of personal income and corporate income taxes are among the lowest in the European Union.

The total amount of social security contributions is 32.70%-33.40% on the gross remuneration, with the employer contributing 18.92%-19.62%, depending on the insurable income. The percentage is distributed as follows: Mandatory state pension fund: 8.22%

How long can a US citizen live in Bulgaria? ›

Entry, Exit and Visa Requirements

U.S. citizens traveling on regular tourist passports cannot stay more than a total of 90 days in Bulgaria within a 6 month-period without a Bulgarian visa. This law is strictly enforced.

Overall, the estimated monthly cost for a single person to live comfortably in Bulgaria is $530 per month without including rent.

Average size of a dwelling reached 55.5 sqm in 2017 in Bulgaria, according to the National Statistical Office. This is < 0.001% more than in the previous year. Historically, average size of a dwelling in Bulgaria reached an all time high of 55.5 sqm in 2011 and an all time low of 40.2 sqm in 2001.

Foreign entrepreneurs who were able to make a minimum investment in Bulgaria can obtain permanent residence permits and, in time, acquire citizenship. There are several manners in which this option is possible and the key is the type of investment, in real estate or otherwise, the entrepreneur is willing to make.

The real estate market in Bulgaria looks fantastic this year! There are plenty of inquiries, viewings, and volume of deals being made at a level similar to last year, but with significantly increased prices. This provides excellent opportunities for those looking to sell their property!

The agreement was signed at the beginning of 2007 and contains provisions about the avoidance of double taxation with respect to the income tax and prevention of fiscal evasion. The Bulgaria-USA double taxation agreement only applies to individuals residents of the contracting states.

Non-resident individuals are taxed only on their income from sources in Bulgaria. The tax rate is 10%. Dividends and liquidation quotas paid to resident or non-resident individuals are subject to 5% tax.

Yes, if you are a U.S. citizen or a resident alien living outside the United States, your worldwide income is subject to U.S. income tax, regardless of where you live.

In actual full cost approach, transfer price is based on the total product cost per unit which will include direct materials, direct labour and factory overhead. When full cost is used for transfer pricing, the selling division can not realise a profit on the goods transferred.

What are transfer pricing fees? ›

Transfer pricing is an accounting and taxation practice that allows for pricing transactions internally within businesses and between subsidiaries that operate under common control or ownership.

The transfer price in the actual full cost method is determined by the whole product cost per unit, which includes direct materials, direct labor, and factory overhead. The selling division cannot make a profit on the products transferred when the full cost is applied for transfer pricing.

There is an inhabited house duty that every owner in Bulgaria has to pay annually. It is a percentage of the property tax evaluation and is different for every municipality.

The taxes for buying a property in Bulgaria are based on the sale price and location of the property. The council tax for the transfer of title varies between 2 and 3.5% of the sale value. You can read more about the fees related to buying a property in Bulgaria below the calculator.

The value of immovable property (WOZ value) is public information. So you can use the WOZ value information website to look up the WOZ value of any home in the Netherlands. Some municipalities are not yet on the WOZ value information site. They explain on their own website how they issue information about WOZ values.

As previously reported, Bulgaria has already introduced a solidarity contribution on the fossil fuel sector that is due at a rate of 33% on excess profits in 2022 and 2023 to the extent exceeding the average taxable profit in 2018, 2019, 2020, and 2021, increased by 20%.

The data reached an all-time high of 4,659.047 USD in Dec 2021 and a record low of 727.326 USD in Dec 2001. In the latest reports, Retail Sales of Bulgaria grew 1.657 % YoY in Mar 2023.

Bulgaria is an excellent country for expats and digital nomads to live in. Our list of the 9 best places to live in Bulgaria includes Bansko, Varna, Sofia, Popovo, Plovdiv, Veliko Tarnovo, Burgas, Haskovo, and Dobrich.

There are some pitfalls to avoid, including fraud and misrepresentation. It's nothing to worry about, but you should take some sensible precautions when starting your property search. The very best way to protect yourself when buying property in Bulgaria is to consult an independent real estate lawyer.

What is the richest neighborhood in Bulgaria? ›

Boyana is one of the most expensive parts of Sofia to live in. The residents are primarily wealthy business people, government officials and other prominent members of Bulgarian society. Formerly an outlying village, it was incorporated into Sofia in 1961.

As a non-resident, can I open a bank account in Bulgaria? Yes, all you need is your passport and your address which will be used upon registration.

Dual citizenship (also known as dual nationality) is permitted in Bulgaria only for native-born citizens. This means that naturalized citizens are required to give up all other nationalities.

Dual citizenship is not tolerated in Bulgaria and for that reason, the applicant to Bulgaria citizenship has to provide evidence that he/she has either been released from foreign citizenship or is currently undergoing such procedure.

UHY's findings show that Belgium has the highest average property taxes for real estate worth USD 1 million of any country in the study at 11.3%* - a charge of USD 113,131.

Bulgaria has proved to be a preferred destination for many international buyers. It offers the best property prices in Europe and a variety to choose from - beach and ski resorts, vibrant cities and beautiful countryside for holiday or relocation.

Bulgarian law allows foreigners to own property in the country, but, however, there are some restrictions. A foreigner can buy a property in their own name, provided that the property doesn't come with the land it is built on. In most cases, apartments in Bulgaria are sold without land.

Luxembourg has the lowest property tax as a share of private capital stock, at 0.05 percent. Switzerland has the second-lowest share, at 0.08 percent, followed by the Czech Republic and Austria, both at 0.09 percent.

Can an American move to Bulgaria? ›

Americans traveling to Bulgaria don't need to apply for a visa if they're staying for fewer than 90 days. However, if you're planning to move, you'll need a residency permit and a Type D visa. To be considered for a residency permit, you need to apply for a Type D visa first.

To obtain a Bulgarian Retirement visa, as a non-EU national, you need to go through the following steps: Apply and get a Bulgarian D Visa. After obtaining the D visa, you can enter the country. Apply for a temporary residence permit called “Residence for Pensioners” at the Migration Directorate upon your arrival.

You can travel to Bulgaria for up to 90 days in any 180-day period without a visa. This applies if you travel as a tourist, to visit for family or friends, to attend business meetings, cultural or sports events, or for short-term studies or training.