An attractive regulated plot for sale in "Karamandja" area, next to Pamporovo ski resort. Suitable for building a hotel or Alpine houses

Description: We present you an attractive plot for sale of 6089 sq.m., situated under the main road for the famous ski resort Pamporovo. The ski lift and ski run are about 1 km. away. The regulated land is extremely suitable for construction of a hotel, Alpine houses, a sport center, a playground, etc.

Location: Pamporovo is the oldest ski resort in Bulgaria - the pearl of the beautiful, natural and legendary Rhodope Mountains. It is now attracting increasing investment interest while it's growth retains its awe inspiring natural beauty.

Pamporovo is also a very popular summer resort, often referred to as a "mountains and lakes" resort with a range of activities to enjoy including guided walking and cycling tours. Tennis court, horse riding and hiking are also available. The unique climate, strongly influenced by the nearby Mediterranean Sea, is extremely healthy and provides excellent conditions for climate therapy and health tourism all year round.

Pamporovo is famous for its 156 m. high TV tower at the top of the Snejanka Peak. The elevator will take you to the cafe (93m high) where you can enjoy the breathtaking view - the Rhodopes, the slopes of Rila Mountain and even the Aegion region.

In February 2005 the Bulgarian Parliament voted the Pamporovo resort to be a tourist area of national importance. The main benefit here is that the beautifully natural surrounds will be preserved intact with very little residential construction being allowed.

No commission from the buyer!

The agency charges only EUR 480 for attendance at the deal.

Accents

• Developed infrastructure
• 1 km. away from the ski slopes
• Perfect investment opportunity

 Additional info:

Our main purpose is to provide our clients with an excellent level of service, the majority of which are foreign investors who have decided to own property here in Bulgaria. We appreciate the seriousness of looking after your property, and realise the full implications that this entails. You can rest assured that you are in good hands and that your investment is kept in great condition. Furthermore, we can make your property work for you and pay back its investment. We can provide short and long term rental opportunities that will bring significant annual returns.

• For residential buildings

Agent's valuation of the offer Excellent!

Property Taxes in Bulgaria

A foreign investor can invest in properties in Bulgaria either directly or through a local legal entity. Only Bulgarian-resident individuals and entities can acquire title to land, while non-residents may acquire only buildings and limited rights (e.g., leasehold and construction rights) to land.

If you are investing in Bulgaria, as a non-resident property owner, you could be liable for the following taxes:

Property Purchase Tax

The purchased property will be subject to a notary and a municipal tax. The notary tax is paid on the higher of the market price or the book value of the property. Rates vary and are typically less than 1%. In addition, 2% of the market value of the  property is paid as a municipal tax. This money goes to the municipality in which the  property is situated. You pay these taxes after you have signed the notary deed.

Annual Property Tax

All property owners in Bulgaria pay an annual property tax. The current annual tax rate for a house is 0.15% of the tax evaluation ( the value of the property as estimated by the state body) of the property.
In addition to this tax, owners also pay a waste-collection tax. The rate depends on the 
location and size of the dwelling. The amount of tax payable is usually about GBP30 per year 
for rural property and about GBP100 per year for apartments in city centers.

Tax On Rental Income

This is subject to a 15% withholding tax after deducting allowable expenses such as mortgage interest etc. It is not stable and depends on the gross  annual income of the person.

Wealth Tax

No Wealth tax in Bulgaria.

Capital Gains Tax (CGT)

This is levied at 15% on any increase in the value of the property.

Inheritance Tax (IHT)

This was levied at up to 10% up to 2004, but has been abolished altogether in 2005.

Value Added Tax

Transactions with land and lease of property for residential purposes are exempt from value added tax. All other real estate transactions are subject to VAT at the uniform rate of 20% (will be changed after Nulgaria joins to EU). The buyer/lessee is entitled to a VAT refund, provided it is registered for VAT purposes.

Corporation Tax

As some property interests in Bulgaria cannot be held directly by foreigners, buying through a local Bulgarian company is recommended. If you own a company in Bulgaria, note that in January 2005 the rate of income tax for a  corporation in Bulgaria was reduced from 19.5% to 15%. The tax year in Bulgaria ends on the 31 December. A limited company must file an annual report by the 31 March. If you incorporated a limited company to purchase a house or land, then there will be no  tax liability, as the company was not trading. However, you still must submit company  accounts to the Companies' House Register in Bulgaria every year to satisfy the authorities that the company was not trading. This is a legal requirement.