Q: Tourism in Bulgaria?
A: As a traditional holiday destination Bulgaria has a variety of attractions to offer visitors including some of the most unspoilt countryside in Europe in contrast to other more famous European destinations. There are many sources of information on Bulgaria among them is 'Bulgaria - The Rough Guide' (ed J Bousfield and D Richardson), 'Eastern Europe - A Lonely Planet Guide' ('Bulgaria - A Lonely Planet Guide' published in 2002) and the Blue Guide to Bulgaria. These are just a few. A good source for history buffs is the Concise History of Bulgaria, Professor Edwards, Oxford University. All good book shops should have a selection.
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Q: Are there any restrictions for foreigners?
A: Accordingto the Bulgarian Constitution, foreign individual persons can buy buildings but not land. Therefore the most common method for foreigners buying property in Bulgaria is to set up a company which then owns the land and the buildings. We can organize the entire process from start to finish, together with all aspects of conveyancing. We expect the law to change within the short to medium term as Bulgaria opens its doors fully in line with its expected entry into the European Union (2007). This historic restriction is one of the reasons why property in Bulgaria is so competitively priced compared to Western and Central Europe.
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Q: What's the weather like?
A: Bulgaria has long been a summer tourist destination, as well as offering popular winter resorts. Generally summers are longer and warmer (and guaranteed) whilst the winters are shorter but can be more severe. The Black Sea coast is less cold in the winter and rarely sees snow. For 5 months (May - September) average temperatures are 25 degrees Celsius and often above in the peak summer period.
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Q: Do we need a visa to travel to Bulgaria and how long can we stay? Do we need a visa to travel to Bulgaria and how long can we stay?
A: UK passport holders do not require a visa in order to visit Bulgaria for a period of 30 days. Long-term visa (D) can be obtained from the Bulgarian Consular service in London. Visa control has been considerably relaxed between the UK and Bulgaria. For further information please contact the Bulgarian Embassy in London on 0207 584 9400 or check www.bulgarianembassy.org.uk. The British Embassy in Bulgaria also provides information at www.british-embassy.bg.
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Q: What are the living costs in Bulgaria? How much one pays for house insurance, gas, electricity, local and national taxes, to hire a gardener or a builder, to drive a car?
A: It's not possible to compare living costs in Bulgaria and Western Europe. Living costs in Bulgaria are extremely low! For example the food is generally twice cheaper than UK. House insurance: around 100-200 . EURO per year depending on the type of house, together with the belongings and furniture inside. For a property of price 30,000 . EURO insurance against theft, flood and fire costs about 125 . EURO per year with a decent insurance company like Allianz. Gas: the gas system network is not developed in Bulgaria yet. People here mostly use electricity to cook. For heating: there are central heating systems in the big cities: monthly costs for a 2-bedroom apartment around 120 . EURO. In the small places people use charcoal and wood, which is even cheaper way to heat a house. For electricity, when used for cooking, light or hot water one pays about 30 . EURO monthly.
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Q: How do we travel to Bulgaria?
A: Direct international flights are available to the capital, Sofia, all year round. Direct charter flights to the Black Sea (Varna/Burgas) are available during the spring/summer months and can be booked through local UK travel agents.
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Q: Which are the preferred types of business organizations with foreign investment?
A: The most common form of organization for foreign investors is a limited liability company. Other types are general partnership, limited partnership, joint stock company, sole proprietorship, joint venture, branch, holding, cooperatives, representative office. Limited liability companies, unlimited partnerships, public limited companies, limited partnerships, holdings and cooperatives are legal entities. Branches and representations are not independent legal entities: branches may engage in economic activities, they have their own property and compile a separate balance sheet; representations may not engage in economic activities.
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Q: Why Bulgaria?
A: "Bulgaria? It is the new Costa Del Sol", Daily Mail, April 4TH, 2004.
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Q: What level of capital growth can I expect on the value of my property?
A: It is not possible to say with certainty how the property market will react in the future. However, the property markets of the Czech Republic and Poland, two of the most recent new members of the EU have risen by approximately 250% in the five years to today's date. Bulgarian property prices themselves have increased by 17% nationwide over the last 9 months. The increase of the value of a property depends on a number of factors, including the condition of the house, its location and the type of property.
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Q: How long will it take to buy a property?
A: Generally it will take 3 weeks to buy a property. This is dependent on a number of factors, not all of which are in your control. Once you have decided on a property, contact will be made with the seller or his estate agent. The terms and conditions of the sale can be negotiated very quickly, depending on how easily we can instruct an independent surveyor to assess the property, which is our usual practice. It is important to have an accurate picture of the condition of the property, likely repairs that will be needed and its consequent value. Usually a surveyor can prepare a report within a week of instructions. The legal title to the property can be checked at the Land Register in a day or two. Searches with the local authority, trying to confirm the uses and building permissions associated with the property, will similarly take several days. The 'Preliminary Contract' is then exchanged and a deposit paid. Then there is then a period of at maximum, a few days while the money transfer is arranged.
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Q: How long is the coastline?
A: The Bulgarian coastline is 354 km (220 m) long of which more than 200 km (125 m) is sandy beach.
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Q: Population?
A: 7,517,973 (July 2004 est.)
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Q: How big is Bulgaria?
A: Bulgaria is not big compared to the other European countries: total: 110,910 sq/km, water: 360 sq/km and land: 110,550 sq/km
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Q: What is the Bulgarian currency?
A: The currency is Bulgarian lev (BGN).
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