You can setup your Bulgarian properties limited company in advance whilst in the UK. This gives you the opportunity when you decide on a property, during your viewing trip, to complete the purchase of your Bulgarian property within a few days or alternatively you can purchase Bulgarian properties without even going to Bulgaria.
Steps to follow:
1. Send us your Bulgarian company’s name (its your choice) along with a photocopy of your passport and the fee for setting up the limited company, currently at £400.
2. After submitting your details we will forward you application forms which must be countersigned with a UK-certified solicitor.
3. The certified forms will then have to be sent for an apostille here in the UK and we will let you know where to send them. An application fee of £12 is charged per document (you will have 8 documents). The processing time is between 2-4 weeks.
4. Once you receive the apostilles back they will have to be forwarded to our solicitor in Varna, Bulgaria.
5. Since the setup of limited company requires a business bank account to be opened with statutory capital of BGL3,500 (about £1,200) you would have to transfer these funds to the solicitor’s bank account. After the completion of your purchase you can withdraw all these funds back.
6. We will not charge you any fees for all these services. Your costs for setting up a limited company before or without traveling to Bulgaria will include:
1. The UK-solicitor counter-signing fees (usually about £30-£50).
2. Apostille fees (currently £92; 8 documents X £12).
3. Bank transfer fees (about £30).
4. Bulgarian Solicitor fees (£400, these are the same whether you are travel to Bulgaria or not).
5. Statutory capital (£1,200, as mentioned these will be refunded to you once your Bulgarian limited company is registered, so therefore is not exactly a cost but funds have to be transferred in order for the registration to commence).
6. Postage or courier (it is better spending £30 on DHL or other courier when sending documents to Bulgaria. If anything goes missing you will have to start from the beginning).