BUYING PROCEDURE: 1) Browse our website and choose the unit, which best suits your requirements. 2) Contact us – by phone, email or visit our office, and we will answer all your questions regarding Bulgaria, Varna and the area, the property and the buying procedure. 3) Make your final decision and reserve a property with a Reservation Deposit of EUR 5,000. As soon as you pay the Deposit, the property will be taken off the market for a period of 30 days. 4) By the end of the 30-day period, a Preliminary Agreement must be signed and 30% of the Purchasing Price /minus theDeposit/ must be paid. The contract contains the main terms and conditions which will be included in the Notary Deed for the transfer of the property: a description of the property, the purchase price, conditions and terms of payment, etc. 5) The project is scheduled for delivery on June 30th, 2016. During that period you should pay the installments specified in the Preliminary Agreement. 6) The Notary Deed (Title Deed), i.e. the legal document certifying that you own the property, is drawn up by the local notary public in the presence of the buyer and the seller. 7) Congratulations, you now own your dream property!

Bulgaria boasts one of the most favorable tax regimes in Europe. I. Individual Income Tax in Bulgaria: applicable to individuals who own apartments in Bulgaria. The Bulgarian residents and citizens of EU member countries are treated differently than the citizens of other countries. 1. Taxation of BG residents and citizens of EU countries The following income is exempt from tax: (i) Income from the sale of one property in Bulgaria during the same calendar year (i.e. for more than one property there is capital gains tax); (ii) Income from the sale of up to two properties during the same calendar year when more than 5 years have elapsed after the acquisition of the properties. Income – subject to taxation: (i) Income from the sale or exchange of more than one residential property per calendar year, unless 1(ii) applies. (ii) Property rental income. 2. Taxation of individuals who are not BG residents and EU citizens Income from sale, exchange or rent is taxed at a rate of 10%. II. Other Taxes and Fees Incurred when Buying & Selling Property in Bulgaria: Property Transfer Fees The transfer is subject to notary and municipal fees. The total transfer expenses related to the purchase of a property are approximately 4% of the price of the property and include the property transfer tax, the Notary fee and the Land Registry fee. Annual Real Estate Tax There are two property taxes payable yearly: property tax and garbage collection fee. The tax rates are set by the Municipality where the property is located. InVarnaregion the taxes are 0.2% property tax and  0.1%– 0.18% garbage collection fee. The tax base is the assessed value of the property as calculated by the local tax authorities.