400 Euro for the opening of the bank account

400 euros is quite a lot, but it's probably a lot less than it would cost you for a return flight here, a stay in a hotel, and the cost of an interpreter. Good lawyers can cost well over 100 euros an hour; not so good ones less. There's a huge number of not very good ones, each with a flock of clients eager to tell others how "good' they are: anyone can do the easy work successfully, but that proves nothing.

For a simple property transaction, any lawyer should be fine (always check they ARE a qualified lawyer via the local Bar Association website) but make sure you see and understand the notary act (only the BG version counts) before you sign it. Also be aware that if the lawyer or notary f*cks up, you have zero comeback and any costs to amend documents post-sale are down to you.

@Alex_123

It doesn't sound outrageous, but...

Even if the attorney price is 400 euros, you still have the cost of notarizing/legalizing the POA (probably by going to your nearest Bulgarian embassy) and getting it to your attorney.

Separately, I doubt it's a personal bank account, as it's extremely unlikely a bank will open a personal account by POA. If it's a company bank account, then how much is the company incorporation costing? And, actually, do you need a company and company bank account?

My view is that, as an EU citizen, moving and buying is pretty easy. The residence permit (EU Citizen Registration) is very straightforward. Once you've done that (or even before) you shouldn't have much trouble opening a personal bank account (if you want/need one). You can also buy a house in your personal name (i.e. no company required). Attorneys are optional, as the Registration and bank account is something you can do on your own (a translator/helper for 25 euros might be worthwhile), and property purchases are handled by your local notary.

I purchased very recently, and it seems the notary process has now changed to enforce no-cash transactions. We (buyer and seller) both signed the Notary Act at the notary (step 1). Then the notary told me to go pay the seller, and bring him the proof of payment/transfer. I did this from my Wise (online emoney account) rather than a local Bulgarian account, and direct to the seller's account (step 2, done while having a coffee at the cafe just outside the notary). Then I emailed the notary the transfer receipts (step 3). This process means the deed has been signed, but the transfer is not valid until the notary is able to confirm that the buyer has been paid.

Hello everyone,

Please note that I have created a new thread that includes both the original poster's message and your response.

Cheers,

Cheryl

Expat.com team