1. What is the difference between “common parts” and “approachable parts” of the building?
- Common parts of the building - the entire building, including staircases, platforms, roofs, chimneys, front doors of the building, main streams of all the installations and their central installations, gutters, and everything else, which purpose is to serves for common use during the normal use of the apartments.

- Approachable parts and equipment - green areas, alleys and playgrounds, equipment for common use, namely: three outdoor and one indoor completely equipped swimming pools with the belonging serving equipment, kids playground, outdoor and indoor parking lots, wellness-center, center for 24 hours medical service, shops and boutiques, outdoor and indoor bars and restaurants.

2. When and how is to be paid the remuneration due under the Management and Maintenance Contract?
The remuneration due under the Management and Maintenance Contract is to be paid in the beginning of every calendar year. Only for the first (for the months remaining till the end of the year after putting the new owner in possession) and for the second year, the remuneration due is to be paid in advance, together with the last installment of the purchase price

3. May I pay in currency different from “Euro”?
Yes, we accept payments in different currency. The amount shall be equal to the amount in Euro. The payment shall be done into the bank account specified in the contract, as the bank fees and charges for the currency exchange are at the sender’s expense.

4. Will the price for my apartment, that I pay now, be changed in the future, in case of changes in the rate of the Euro?
The Purchase price is fixed in the Preliminary Sales Contract and will not be changed.

5. How can be proved that I have paid the amounts for purchase of property in Emerald Resort?
- In case of payment in cash, Pioneer Development will issue a relative receipt – a credit order or an invoice.
- In case the payment is made through a bank transfer, such official document is the excerpt from the sender’s account after payment order. Additionally, Pioneer Development sends to each client a personalized written receipt, with attached a copy of the swift showing the correct amount, entered into the developer’s bank account, and also including payment schedule and the current payment status according to the Preliminary Sales Contract.

6. How I could obtain a discount of the purchase price?
In case of 100% pre-payment, the discount is 4% of the NET price.

7. In case of cash payment, will the discount be more than 4%?
Discount does not depend on the way of payment.

8. What profit could I expect if I buy a property now and sell after completion of the construction?
The level of the expected profit, based on the current market figures, is about 20% - 25%.

9. How I’ll be sure that I’ll receive in time the notifications sent from the developer? They could be lost by mail!
Pioneer Development uses only the services of secure international couriers for personal mail delivery. This way we avoid the risk of “lost by mail” letters.

What could happen in case I’m not at the given by me mail address (for example, I’m abroad)? Are there any financial sanctions applied in case of terms expatriation?

The notifications that Pioneer Development usually sends to its customers are a few and in concern of the following:

- Notification for completion of a construction stage, connected with payment of an installment, according to the chosen payment plan (those stages are approximately fixed in time and the owners will be informed in advance);

- Notification for invitation for inspection and acceptance of the construction works over the property;

- Notification for payment overdue or arising unexpected circumstances and expenses.

In case the owner is not available at the given address, it is desirable to notify for that Pioneer Development in advance and to give another address for contact. Otherwise the notification will be considered sent and the terms for reaction indicated in it, will come into force.

In case that the owner knows that he/she will not be available at the given address, at the time for paying a due, according to the contract, then the amount must be paid in advance. In case the due is connected to the current public utilities (telephone, water supply, electricity), then the funds should be deposited, in order Pioneer Development to be able to operate with them meantime, without cumbering the normal operation of the complex. In case of non fulfillment of any of his obligations, the owner will be responsible before Pioneer Development, paying the relative forfeits, foreseen in the contract.

10. What does it mean “10% modification in the floorage of the purchased apartment” that could come out after the actual completion of the construction works?
Such modification in the floorage of the apartment is possible to come out during the construction process due to technical reasons. The Bulgarian legislation provides and allows such difference in the parameters in the preliminary design of the building.

11. How will be calculated the modification of the floorage – from the living area or it includes also the ideal parts?
It will be calculated form the living area.

12. What will happen if I refuse to pay the difference?
By signing the Preliminary Contract on Sale of Immovable Property, the Buyer accepts and agrees in case of established up to 10% modification in the floorage of the purchased real estate, to pay in addition the money equivalent of the extra established floorage, calculated on the base price per square meter from the Purchase Price. In case of refusal, the contract could be cancelled and it will be considered that the buyer does not execute properly his obligations under the contract and the relative forfeits to the faulty party will be applied.

13. Is it true that I will receive money back, in case that my property becomes smaller?
Yes. This is a reciprocal obligation of the developer under the contract and he is liable to the same forfeits as the buyer in case of fault. The developer will discount the money for the extra paid floorage, calculated on the base price per square meter from the Purchase Price.

14. Shall I take care by myself for renting my apartment? If no, shall I pay additionally for this?
Renting the apartment in Emerald Resort is subject to decision of the owner. In case of such intention, the owner has to inform Pioneer Development in advance in writing and we will proceed with the rental arrangements. Particular rental contract must be signed between the parties.

15. When is the deadline for declaring a property for rent?
It is desirable to happen as soon as possible, but not later than 4 months before the season start.

16. How will be chosen which apartment when to be occupied?
It will depend on the Tour Operator’s needs.

17. Is the price per night unified, for example, for all studios? If yes – why? My studio is bigger?
It will be regulated, depending on the tourists demand.

18. Who will pay the consumption of electricity, water supply, etc. for my apartment during the period I’m not there and there are no tourists?
Even if the apartment is empty, there is a maintenance fee due to the relevant supplier of the service, which is at owner’s expenses.

19. Who will pay the consumption of electricity, water supply, etc. for my apartment when the apartment is occupied by tourists?
For the time the apartment is occupied by tourists, the expenses for the public utilities are included in the room rate which the tourist pays during his stay.

20. How will be calculated the share that each owner shall pay for electricity and water in the common areas?
The share due of each owner will be calculated proportionally to the owned ideal parts of the common parts.

22. What is the amount of the garbage tax and when it is paid?
GARBAGE TAX - 0.8 % over the amount of the official tax valuation of the real estate – an annual tax, paid by 4 installments.

23. What is the rate EUR to BNL (leva)?
1 EUR = 1.95583 BNL fixed rate.

24. What is the “management and maintenance fee” for?
The management and maintenance fee includes:

I. All-year-round technical support of the:
1. water and sewerage system; electric installation;air-conditioning installation; fire alert installation and ventilation installation;
2. swimming pools and their serving equipment, including supply of consumables, maintenance of the water refining equipment and the installed showers;
3. lifts;
4. sports facilities and the kids’ playground;
5. Green areas in the complex.

II. Operational Management
1. access regime and the internal order in the complex;
2. sanitary–hygienic services;
3. children’s amusement facilities, using professional animators, following a program announced in advance;
4. united reception;
5. Access to the sports facilities.

25. As a foreigner, am I allowed to apply for a loan/credit from a Bulgarian Bank? Do you work with a particular bank?
Pioneer Development is presently negotiating with Bulgarian and International banks to credit both Bulgarian and foreign citizens, who would like to invest in Emerald Resort.

26. Do you provide bank loans to Bulgarians?
Pioneer Development is presently negotiating with Bulgarian banks to allow credit to Bulgarian citizens, who intend to invest in Emerald Resort.

27. How will be rendered an account for the consumed electricity and water, and for the phone conversations, made in the apartments?
For each apartment there will be registered personal accounts on the name of the owner(s) for different public utilities. Relative meters will be installed and they will be separated for every apartment. All monthly bills will be on the name of the owner(s) and only for his apartment. This way all real consumption and expanses, made in a particular apartment can be easily proved and followed up.

28. Is it obligatory to pay VAT in Bulgaria and why?
Value Added Tax is a governmental tax and its payment is obligatory in Bulgaria.

29. How I can be sure that the expenses I shall reimburse will be correct and reasonable?
Original invoices, bills and other financial documents from the relevant suppliers of services and public utilities will be provided upon request.

30. How could I know how much is paid for the common parts and how much is my share of these expenses? Is there any separated account for this and is there any report to the owners?
The common expenses concerning all of the owners will be shared between them, proportionally to the owned by them ideal parts in the common parts. Pioneer Development will keep an individual account for each apartment, based on the real expenses, duly proved by financial documents. These expenses will be reported at the General Assembly of the owners of properties in Emerald Resort. Current information for the personal accounts can be obtained upon request.

31. May I pay the management fee under the Contract for Management and Maintenance for few years in advance and is there any discount about this?
No, it's not possible. This option is no longer available.

32. May I open a bank account in Bulgaria?
All owners may open an account in a bank in Bulgaria for servicing their payments.

33. Will the entire building be insured or I shall insure the property separately?
Pioneer Development will ensure the entire building against specific risks, but each owner shall insure his own property at least against fire and flood. The other risks, the amount and the insurance company are at his choice.

34. How much is the tax due for owning a real estate in Bulgaria (inhabited house duty)?
The inhabited house due is 0.15% from the tax valuation of the property. It is an annual tax and it is paid in 4 installments, depending on the official tax valuation of the real estate. Must to be paid for the whole year, nevertheless the property is used or not. The exact amount of the official tax valuation for each property will become known upon performing the sale formalities.

35. How is regulated the access to the construction site?
In Bulgaria it is not allowed free access to the construction sites. If an owner intends to visit the Emerald Resort construction site, he will have to inform Pioneer Development in advance, observing the obligatory safety requirements. The visitors shall be accompanied by a representative of the developer.

36. How the owners will be kept informed for the progress of the construction works?
Information about the construction progress can be obtained by phone, e-mail or directly from the Real-Time satellite web cameras installed on site.

37. What does it mean Act 15 and Act 16?
Act 15 – Upon completion of the construction works, building has to be accepted by an especially appointed technical commission. If all construction works comply with the technical requirements, this commission issue Act 15 certifying the object.
Act 16 – Having issued Act 15, the development has also to pass through all inspection commissions connected with the communications (water supply, electricity, etc.). After having checked and approved all installations, it is issued Act 16 – Permission for Use.

38. What exactly is planned and not planned expense?
Pioneer Development, as a managing company of Emerald Resort, plans the current operational expenses connected to the normal maintenance and current prophylactic repairs within the complex. Those Planned expenses are announced and approved by the owners on the annual general meeting of the owners.
Non-planned expenses are expenses incidentally arising and affecting the normal operation of the complex. Due to their emergency, such expenses for removal of critical damages are undertaken by Pioneer Development, but after receiving the relative notification, they shall be reimbursed by the owners, proportionally to the owned parts of the common parts of the complex.

39. What is included in the furnishing pack?
All kinds of conveniences are contemplated, according to the suite: equipped kitchenette, port manteau, wardrobes, tables (bedside tables, dinning tables), chairs, beds, dressing tables, lighting facilities, AC.

40. May I make changes in the furniture in my apartment?
It is owners’ right to make changes at their own apartments, but such changes has to be in conformity with the safety rules and without breaking the united architectural lay out of the complex. In case the owner intends to let the property out, there are binding requirements from the tour operators which should be followed. For that reason before making any changes in the apartment the buyer should consult Pioneer Development. This does not concern buying small household goods (in case these are electric appliances they should be with proved origin, quality and safety) and ornaments or works of art.

41. Will I pay less in case I give up the furniture pack?
Considering the united conception of the complex and the fact that most of the apartments will be let out, and in consistent with the tour operators’ requirements, the furnishing of all apartments is typified. Each owner has the right to take in or to give up the furniture, which is included in the price, but this will not lead to a discount in the purchase price.

42. May I resell my apartment before the completion of the building?
Yes, but the full amount of the purchase price shall be paid off before the transaction or it has to be assured that the new owner will sign the same contracts with Pioneer Development, undertaking the relevant duties and amenability. In case the future owner refuses signing the contract, the responsibility rests with the present owner until expiration of the contract and full payment of the amount due for the property.

43. Can I ask Pioneer Development to resell my apartment to somebody else?
Pioneer Development will not guarantee the finding of new potential buyers for the already purchased apartments. There are a lot of real estate companies, specializing at this activity. In case of declared such a wish from the owner, Pioneer Development could offer the property on the market back, for a price agreed with the present owner.

44. If I decide to sell my apartment, how much will be the Notary tax and how it will be calculated?
These expenses are officially fixed and they’ll be the same like those paid for passing the ownership of the property from Pioneer Development to the owners.

45. How much is the inheritance tax in Bulgaria?
According to the Bulgarian legislation, taxable are all ancestral properties located in Bulgaria, inherited under the low or will by foreigners.
Inheritance tax is not due from the living husband or the children. In case in the will there is specified another person, than the inheritance tax is due as follows:
- For brothers, sisters or their children - 0,7 % from the surplus over 250 000 leva ancestral share;
- For all others - 5 % from the surplus over 250 000 leva ancestral share.

46. What kind of documents is required from the owners for signing of the Notary deed?
If the owner is a private person, he shall present his identification documents (passport, ID card). In case of special requirements, Pioneer Development will inform the owners in advance.
If the owner is a juridical person, the needed documents are those which usually are presented by concluding a contract between two companies – registration of the company, actual status of the company, encumbrance certificate and etc. All applied documents shall be legally certified by apostil, translated into Bulgarian language and legalized. In case of special requirements, Pioneer Development will inform the owners in advance.

48. What is the registration procedure for new properties?
For the recently built properties, in 2 months terms after putting the building into exploitation, the owners shall file a declaration (by form) in the local tax administration. The amount of the tax due is 0.15% from the valuation of the property.

49. Is the ownership of an apartment in Bulgaria, a precondition for obtaining a long-term or permanent stay in the country?
Owning an apartment in Bulgaria does not automatically allow a long-term or permanent stay in the country. In case of a visa control with the country of residence of the owner, there are the relative general procedures for issuing a visa applied. Exceptions are allowed only in case of investment of over 500 000 USD.

50. In case of visa’s control in my country, how the entry visa for Bulgaria is to be obtained? What kind of documents I need to get a visa?
In case of visa’s control the documents for obtaining of entry visa in Bulgaria are defined and listed in the relevant consulship in the country by permanent residence.

51. Which facilities are for free uses by the owners of apartments in the complex?
For free uses of the owners of apartments in Emerald Resort are provided: green and park areas, kids’ playground, swimming pools (outdoor and indoor), Jacuzzi, outdoor and indoor parking lots, lounges and sunshades.

52. Is there a discount for the owners for using the sport and other facilities as well as for the restaurants on the territory of the complex?
For the sport facilities the owners have contractual 30% discount. And for the bars and restaurants - this is still under consideration.

53. Are the parking lots going to be sold? How the parking usage will be regulated?
The parking will not be sold - they will be free of charge for the owners and the guests of the complex. There is enough space in both parking lots – the underground and the outdoor.

54. Shall I announce in advance when I am going to use my apartment? If yes – who I need to inform and in which terms?
In case that the property is not declared for rent, the owner is eligible to use his property any time. It is desirable Pioneer Development or the administration of the complex to be informed in advance, about the dates of stay, in order to arrange the access to the property.
In case the apartment is announced for rent, this matter will be regulated in the Rental Agreement. Since the availability of each apartment is subject of advanced planning and contractual relations with tour operators, it is necessary a notification in writing to be sent in the terms specified in the contract, but at least 3 months in advance.

55. For how long I can use my apartment during the tourist season?
The owner has the right to use his apartment for a period announced in advance. It is subject on an agreement and usually it depends on the agreed occupancy with the Tour Operator. All conditions regarding the rental will be regulated in the rental contract.

56. When I come to use my apartment do I need to prove that I am the owner?
Every owner will be provided with an owner’s ID card. It is desirable the administration of the complex to be informed in advance for the arrival date of the owner and his guests in the complex and for the period of his stay.

57. Will I be allowed to invite guests in my apartment? Who will pay the expenses during their stay in my apartment?
Each owner is eligible to invite guests in his apartment, and the expenses made during their stay are at his or at his guests’ expense.

58. Will I be able to use my apartment for permanent living?
Every owner will be able to use his/her apartment for living at all time.

59. How many staff will be there during the season and how will be out of the season? What kind of languages they will speak?
During the tourist season there will be about 150 – 200 people staff in the complex, speaking English, German, Russian, and Bulgarian, and for the rest of the time about 15 – 20 persons will be on duty.

60. How long lasts the active tourist’s season in Bulgaria?
The active season in Bulgaria usually lasts from 15th of May to 15th of October. Emerald Resort is designed in a way providing the possibility the season to be extended and the complex to be used all year round.

61. For what period of time will be open Emerald Resort for outsiders?
Emerald Resort will be open for all-year-round use.

62. Will the complex be open out of the summer season?
The complex will be open also out of the active season, but with limited capacity of operation.

63. Are the shops, restaurants and bars in the complex going to be sold or rented? In such case, will the owners of the apartments be eligible to apply for and will they have any preferences?
For the time being, all shops, restaurants and bars in the complex are not provided for sale. They will be rented to persons or companies. Candidates, owning apartments in the complex will be eligible to apply, but there will not be any preferences.

64. Will outsiders be allowed to visit the restaurants, bars, swimming pools and other equipments in the complex?
In the complex there will be a free access to the restaurants and bars in the complex. The visitors from outside shall pay only the real consumption and for used services.

65. Will there be bars on the beach?
There will be a few bars in the complex, Drake’s Grill Bar, Magellan’s Grill Bar, Nemo’s Pool Bar, Raffles Bar, Lobby Bar , Open Sea Piano Bar. Presently no bars on the beach are contemplated, but in the future such bars may be set up if needed.

66. How far is the beach from the complex?
The beach is 50-70 m. away from the main building. The beach line has free access for all guests of the complex.

67. Does the beach belong to the complex?
Beaches in Bulgaria are public property since they are partly State border.

68. Who keeps up the beach?
It is concessionaire’s obligation to keep up the beach.

69. Are there lifeguards on the beach?
The beach has its own qualified lifeguards providing safe stay to the guests.

70. Are there any dangerous animals in the Sea?
The tourists should only mind their step in order not to step on a sea dragon only. Anyway, there are no predators in the Black Sea that might threaten the life and health of the tourists, neither in the sea water, nor on the beach.

71. What is guarded in the complex? Is there any guarantee against pilferage?
The complex has 24/7 security by surveillance cameras and guards. The access of outside persons in the complex will be restricted. Therefore the risk of pilferage is minimized. But it is highly recommended to take out an insurance of property against pilferage and a safe hire for valuables and cash.

72. In case I choose an apartment next or near the elevator, is it going to be noisy in my unit?
The elevators in the building are of high-grade, noiseless and safe, and their operation will not disturb the rest of the owners and the tourists nearby.

73. If my apartment is looking to the parking lot?
Both parking lots – underground and ground one – are purposed for the guests’ convenience. Considering that the main part of the visitors will arrive by airplane, and the rare cases of rent-a-car, we do not expect a big traffic on the territory of the complex. The speed will be restricted by special equipment; the road paving will be noise-absorbing; the delivery and the other serving vehicles will use separate entrance. The noise will be reduced to minimum. All this is purposed for the comfort stay of the guests of the complex.

74. What kind of equipments will be on the kids’ playground?
In the kids’ corner there will be the typical for children playgrounds equipment installed: cradles, slides, and etc. as well as a heated safe swimming pool, which depth will be conformable to children’s use.

75. What depth will reach the swimming pools?
The depth will vary between 0.5 meters to 1.5 meters.

76. Will be there a life-guard service provided around the swimming pool?
Yes, professional certified life-guards will be involved for the safety of the tourists using all the complex’s swimming pools.

77. How about if I fell and have a fracture in the complex?
In case of an accident (fracture or injury) guests of the complex can rely on 24 hour qualified medical assistance locally, and emergency of Nessebar, Pomorie, and Bourgas. In the presence of an accident insurance (required for each tourist), the service will be free of charge for the person injured, and indemnity might be claimed against the insurer.

78. Is there a casino in the territory of the complex?
Connected to our will to guarantee the convenience and the comfort of the guests, for the time being there is not provided such an entertainment to be developed on the territory of the Emerald Resort

79. Is it a truth that in the complex there will be a helicopter’s platform and a marina?
For the time being, since there is no need, we do not plan to construct such an infrastructure. In the feature, in case of necessity, Pioneer Development possesses an enough free space, appropriate for this purpose.

80. Will be there any bicycles, pedals or other entertainment equipment offered to the tourists?
Yes, the visitors and guests of the complex will be offered different types of amusement equipment.
It will be subject to local charge.

81. Will be in the complex a laundry and ironing service provided?
Yes, laundry services will be provided for additional charge.

82. Will there be any business services provided – internet, conference center, etc.?
Yes, in the complex will be offered such services. There will be Hi-Speed Internet and a Business Centre. Conference halls are not available, but in case of necessity, there are conditions to provide

83. Is there a post office in the complex or near by?
The nearest post office is about 500 m. away from the complex, in the downtown of Ravda village. If requested, we would assist in sending mail by courier, or by ordinary mail. There are Internet, phone and fax services in the Emerald Resort. Can be subject to local charge.

84. Will there be transportation services (taxi, bus) to cater for the needs of the guests of the complex (airport, Sunny Beach, etc.)?
Yes, convenient transport to Sunny Beach, Nessebar and Bourgas airport will be arranged, as well as some other destinations by our own transportation, by excursion trains, regular bus lines and taxis.Transportation can be subject to local charge.

85. What is contemplated for entertainment for the guests of the complex? Will there be trips?
For all guests, apart from the large number of entertainments in the complex – water attractions, children play grounds with professional animators, taking care of children entertainment, computer hall, bars, restaurants, beauty parlor, beach facilities, some trips are contemplated to local sights and attractions. Building of tennis courts, bowling is planned in the future as well. Entertainments can be subject to local charge.

86. What is contemplated for disabled persons?
Disabled persons will have easy access to all facilities – lifts, sanitary places, SPA center, swimming pools, beach, bars, restaurants, etc., as well as parking lots, in accordance with the British Safety Rules and Building standards.

87. Will it be allowed the owners to come in the complex with their pets (cats, dogs and etc.)?
Yes, it will be allowed, but the owners have to take care and look after their pets, protecting the environment clean and the safety and the rest of the visitors. It wouldn’t be recommended the pets to be taken for a walk in the territory of the complex.

88. How far from Emerald Resort are the international airports?
Bourgas airport – 15 km., Varna airport – 100 km.

89. Where is the nearest hospital or polyclinic?
On the territory of Emerald Resort there will be 24 hours medical service. The nearest polyclinic (hospital) is in the city of Nessebar – 3 km away.

90. Where are situated the nearest church, chapel and mosque?
The nearest church and chapel could be found in the city of Nessebar, and mosque - in Aitos.