понеделник, 1 януари 2018 г.

Property Acquisition - Right of foreigners to acquire property in Bulgaria

There's no other place like it anywhere else! From its sandy beaches to its stunning mountains, Bulgaria is blеssed with amazing natural resources. Beautiful in nature, unique historically, rich culturally, and hot economically, Bulgaria has quickly emerged as one of the most exciting investment locations in Europe today.


Bulgarian legislation allows foreigners to acquire real estates such as buildings, apartments, garages, houses, shops, etc. by transactions or through inheritance. Foreign acquisitions of land is limited and depends on the person nationality and the type of land.

Citizens of countries-members of the European Union (EU) or the countries-parties of the Agreement of the European Economic Area (EEAA), may acquire ownership over land if they are residents in Bulgaria. This means those who have permanent residence in the country can acquire land. EU citizens not residing permanently in Bulgaria can acquire land for a second residential property after 01.01.2012.

Agricultural land may be acquired by foreigners, citizens of EU and Member - EEAA after 01.01.2014. One exception, if you are established in Bulgaria, being permanently resident in Bulgaria as self-employed farmer under BULSTAT Act, may acquire ownership of agricultural land and forestry for agricultural use before 01.01.2014.

Persons who are not citizens of EU or Member - EEAA, cannot acquire land in Bulgaria. 

Foreign citizens can legally inherit land in Bulgaria. Law on ownership and use of agricultural land / ZSPPZ / limits the ability of statutory heirs who are not European Union citizens to exercise their right of ownership of agricultural land. According to Art. 3b ZSPPZ those persons shall within three years from the opening of succession to transfer ownership of agricultural land to persons who are entitled to acquire such property. For foreign nationals who are not citizens of the EU and who has been restored ownership of agricultural land, the three year period for the transfer of ownership runs from the time of its recovery.

In case of failure to comply with the legal requirement to transfer land to eligible persons within a three-year period, the state may buy agricultural land at prices set by ordinance of the Council of Ministers.

If you do not respond on the requirements to acquire property in Bulgaria, because you are not a resident in Bulgaria, or the desired property is not second home for you, if you want to invest in more than one Bulgarian properties as people all over the world focus on Bulgaria - the country famous with its nature, which despite the immense foreign interest still keeps the lowest prices in Europe, if you want to start up business in the country considering investment opportunities, then you shall need to form a Company in Bulgaria











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