Buying Property in Bulgaria

After we register your company, we will buy for you the property you have chosen. From this moment you will be the only 100% FREEHOLD owner of the property. The whole procedure from the reservation to signing the final deeds for the real estate takes less than 30 days. For our help and assistance we charge you 3 % from the price of the property (but at least 500 euro). The governmental and notary fees vary according to the price of the property, but usually come up to 7% from the price in the deeds.

Bank Giants Merger Brings Stability to Bulgaria

by Sofia News Agency www.novinite.com

The merger of the Italian UniCredit and the German HVB Group will create the most powerful bank group in Central and Eastern Europe, according to Peter Harold, CEO of HVB Bank Biochim and Hebros Bank in Bulgaria. Italy's largest bank, UniCredit, and Germany's second-largest, HVB Group, confirmed on May 30 that they were in talks about a "potential business combination". The German reassurance Munich Re Group announced it would sell its 18% share in HVB. This share, though, is too small to trigger the interest of the finance community, and most probably the deal will be limited to stocks exchange of the two groups, Harold explained. If the deal goes this way, a new bank group will be formed - strong in Bavaria, North Italy and Austria. Besides, HVB and UniCredit have over EUR 30 B assets each in Central and Eastern Europe. This is a powerful position - the most powerful in the fastest growing region of Europe, according to Harold. The deal could bring a market share of 25% to the Bulgarian banks Bulbank, Biochim and Hebros Bank. This would form a powerful finance group in Bulgaria, which is very good for the country, Harold said. The main asset of such mergers usually is expense saving in many spheres. In March Bank Austria Creditanstalt (BA-CA) has acquired a 89.92% stake and HVB Biochim Bank - a 9.99% of stake in Bulgaria's Hebros Bank thus consolidating the market presence of the Austrian banking institution in the country. Through its two subsidiaries - HVB Biochim and Hebros Bank - BA-CA has rounded a 10% share in the local market and ranked third in capital assets (EUR 1.3 B) nationwide next to Bulbank and DSK Bank.

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