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ALL FREQUENTLY ASKED QUESTIONS - BULGARIA

 

 

  • About Bulgaria.
  • Investing in Bulgaria.
  •  

    About Bulgaria.
     
    The country
    Your experience of Bulgaria can be as varied and rewarding as the geography and the history of the country itself. Bulgaria is small enough to go about and discover at your hearts content and big enough to offer a multitude of lifestyles for all ages. The country has a total area of 110.9 thousand square km, the total population is 8.8 million people and the capital city is Sofia. It is situated in the south-east part of Europe , on the Balkan Peninsula . To the north it has a border with Romania, to the south with Turkey and Greece, to the west with Serbia and Macedonia. To the east it is washed by the waters of the Black Sea.

    Culture
    Being at the crossroads of Europe and Asia , throughout the centuries, Bulgaria and its people have developed a culture of hospitality and vitality. The Bulgarian mentality combines the emotionality of Mediterranean people and the pragmatism of West Europeans. Bulgarian festivals and customs date back to the ancient times. Full of beauty, gaiety, mystical voices, fiery dances and brightly colored costumes - Bulgarian folklore has to be seen, felt and experienced!

    Climate
    Bulgaria has an extremely varied relief - large plains and lowlands, low and high mountains, valleys and lovely gorges. The climate is temperate continental with clearly marked four seasons. A Mediterranean influence is felt in the country''s southern regions. The average annual temperature is 12.8° C. The average January temperature is around 4° C. Average summer temperatures rarely exceed 30° C. The average annual precipitation is about 500 – 600mm/sq.m. There are 300 sunny days per year in Bulgaria. The time is 1h before the Central European Time /CET/.
    Language The official language is Bulgarian. English, German, French and Russian are
    spoken in the country''s resorts, hotels and restaurants. Most of the information is both in Bulgarian and English, making it easy for everyone to get around. Bilingual menus, announcements and instructions, as well as official documents are the norm.

    Currency
    The official monetary unit in the Republic of Bulgaria is called LEV (BGN). Since 1997 the country is in the conditions of a currency board. Since 1st January 2002 the Lev is attached to the Euro at a fixed rate of 1,95583 Leva for 1 Euro. Only Leva of emissions after 1999 are valid. The Bulgarian paper notes comprise the following bank-notes: 1 Lev; 2 Leva; 5 Leva; 10 Leva; 20 Leva; 50 Leva; 100 Leva. 1 lev (BGN) equals to 100 stotinki which are in Coins.

    Cost of Living
    The cost of living (for maintenance of your property and everyday expenses) is surprisingly low compared to Spain, France, Greece, Italy. A breakfast in an ordinary restaurant costs about 5 Leva (1,73 £), a three course lunch costs about 10 Leva (3,50 £) and dinner for two with wine liquor is 30 Leva (10 £). Alcoholic drinks are on sale in most food shops, and in numerous specialised pubs. Bulgarian wines are famed for their exceptional quality; Bulgaria is one of the world’s major wine producers and exporters. The price of one bottle of 0.75 litres of good dry wine varies between 3 and 8 Leva (1,00 – 2,75 £) . Bulgaria’s traditional liquor is called rakiya. The price of a 0.7-litre bottle varies between 3 and 10 Leva (1 – 3,50 £). Imported brand drinks are available everywhere. Their price is close or lower to that in the producer countries. Beer, locally brewed with perfect quality and imported is very popular, either tapped or bottled. The price of a 0.5-litre bottle varies between 0,5 Leva and 2,50 Leva (0,17 – 0,86 £).

    Tourism
    Tourism is recognised by the government as a key industry and as a result more than 4 Million tourist visited Bulgaria in 2004. Low property prices, beautiful countryside, historic towns and unchanged rural traditions surprisingly low cost of living made Bulgaria destination Number 5 for the European tourists in 2004. The lovers of tourism and recreation come to Bulgaria , to have a good rest in a comfortable conditions. What is also important – absolutely safe and cheap. Long since Bulgaria has had a reputation of a peaceful country. Its inhabitants and visitors obey the law and respect its peace. The fact that Bulgaria is an associated member of the European Community is a worthy confirmation. The essential thing is: Bulgaria is beautiful, ancient, interesting, mysterious. You can bravely apply all these definitions.
    Main cultural attractions In Sofia – the Botanical Museum in the National Botanical Garden, the National Archeological Museum, the National History Museum, the National Theatre “Ivan Vazov”. Among the architectural monuments in the capital are: the church “St. George” / 4th century/, the cathedral “St. Sofia” /6th century, the cathedral “St. Alexander Nevski”. Not far from Sofia the Boyana Church is situated with its unique mural paintings from 8th century. The towns – museums with world fame are: Arbanasi, Bozsentsi, Veliko Tarnovo, Etara, Zseravna, Koprivshtitsa, Kotel, Melnik, Nesebar, Sozopol, Triavna. The wine-growing traditions ranks among the centers of the “wine tourism”.

    Visas
    The Republic of Bulgaria requires no visas for the most of citizens of EU countries. For UK citizens a visa is required only in case you would like to stay in the country for more than 30 days within a 6 month period. For a stay of up to 90 (ninety) days within a 6 (six) months period considered from the date of the first entry a short-term visa is required.
     
     
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    Investing in Bulgaria.
     
    Why in Bulgaria?

    The lowest prices of top quality properties for now;

    The very low cost of living compared to Spain, France, Greece, Italy.

    The forthcoming EU membership in 2007 is a guarantee for a good investment - at least a double price increase of apartments is expected.

    Bulgaria is very stable politically and is well situated geographically.

     

    The real estate market

    As for the Bulgarian real estate market, top quality property can still be bought at a very low price. Over the past year prices have risen sharply, particularly in the main coastal areas, but there is still a long way to go to reach "European levels".

     

    Property ownership

    Foreigners are able to purchase real estate properties without special licenses from the government. The property is freehold and owners possess practically eternal building right.

     

    Investment opportunities

    According to the UK mass media Bulgaria is among the most preferred countries, where British people would like to invest. A double increase of the prices is expected as a result of Bulgarian EU membership in 2007. Capital growth in the last 18 months has been over 50% and this trend seems to continue. The Bulgarian Ministry of Tourism has reported that more than 4.5 million tourist have visited Bulgaria in 2004 and more than 5 million are expected to visit it in 2005. This is a proposition for high and stable rental income from costal property in Bulgaria.

     

    Why in Sunny Beach?

    The most famous and the most modern Bulgarian Sea Resort is an additional guarantee for an advantageous investment. Sunny Beach (Slunchev Bryag) is the place where you can enjoy superb “Blue flag” beaches. The most famous Bulgarian sea resort offers entertainments to suit just about everybody, from families with small children to seekers of solitude. Doze off by the beach, enjoy the water sports, or explore nature inland. Keep fit in fitness gyms, sport facilities and football fields.

     
     
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