Bulstat registration for private individuals and companies

Site Admin
Posts: 492
Joined: Mon Aug 23, 2010 6:52 am

Bulstat registration for private individuals and companies

Postby Admin » Thu Dec 12, 2013 10:18 am

Unfortunately, during the past several years, many foreign investors who have purchased their properties in Bulgaria / land or apartments/ in their own names have been left with the impression that once signing the deeds is done, they had no additional obligations towards the local Bulgarian Authorities. In fact this is not the case; the purchase process does not end with signing the deeds. all foreign individuals are obliged by the local BULSTAT laws to perform additional procedures regarding their newly acquired ownership. The first is the registration of the purchase before the local tax authorities in a short deadline (which has been missed since most buyers fly back to their countries once they sign the Title deeds). More information about this you can find in the related topic here:http://bulgariandeals.com/viewtopic.php?f=54&t=4700 . But this registration is not the only one needed.

According to art. 3, point 10 of the Bulstat Act each foreign citizen or corporate body, owned by foreign citizens, is obliged to register their purchase before the local branch of the Bulstat registry. in 7 days deadline after the title deed for the purchase has been signed. If this short period has been missed and the Bulstat card is not applied, various penalties follow, starting from 500 lev for individuals and reach several thousand lev for corporate entities. To avoid falling into liability towards the Taxmen on the above matter it will be advisable to contact local Bulgarian professional who can advise you and perform the necessary legal activities.
Bulstat registration is to be done in person or via proxy, at the local branch of this register with a package of documents. After the application is accepted, the register issues a confirmation list which is valid for 30 days. After the expiration of this period, the applicant must once again visit the register in order to receive the plastic pink Bulstat card. The registration is connected with the payment of some local fees, which are described in the Tariff of fees, collected by the Registry Agency.
It is important to note that without the Bulstat individual number it is impossible to register the property at the local Tax Authority in the 2 months deadlines (which, again leads to fine), neither to pay the associated annual property taxes towards the Municipality, or to obtain on a later stage Tax valuation certificate (required for performance of property sale). It is likely if you haven’t got any idea or info about annual property taxes that you have never applied for Bulstat number as well. Also the local notaries request, before the sale is confirmed, a copy of the Bulstat card. So if you have never been registered yourself in the Bulgarian Bulstat register and have not got the individual Bulstat number, please perform the procedure. If you need any assistance on this matter, we can advise you accordingly.

Bulgariandeals Team

Return to “How to keep proper Bulgarian company”

Who is online

Users browsing this forum: No registered users and 1 guest