Consider Buying A 2nd House In Bulgaria

Consider Buying A 2nd House In Bulgaria



Consider Buying a​ 2nd House in​ Bulgaria
Property for Foreigners
There are no obstacles for foreigners to​ get the title for buildings, as​ well as​ real rights (right of​ use, right of​ construction) .​
Up to​ now there is​ only one restriction: it​ is​ not allowed by law for foreigners to​ become owners of​ the land under the buildings they have bought .​
They are not allowed to​ buy agricultural land as​ well (this is​ a​ Constitutional prohibition) .​
This is​ true for physical persons .​
All restrictions become irrelevant if​ foreigners set up or​ join a​ company incorporated under the Bulgarian legislation, which can acquire full land ownership rights including ownership rights on agricultural land .​
Therefore one of​ the most common methods for foreigners to​ buy property in​ Bulgaria (houses with courtyards, land etc) is​ to​ set up a​ company which then owns the land and the buildings.
It is​ considered that in​ Bulgaria a​ real free market for land will be established some time after Bulgaria becomes part of​ EU .​
This historical restriction is​ one of​ the reasons why property in​ Bulgaria is​ so investors in​ Bulgaria
There are several guarantees competitively priced compared to​ Western and Central Europe .​
Legal treatment of​ foreign for foreign investment in​ Bulgaria:
- National treatment
- Most favoured nation status
- Priority of​ International Treaties
- Legal Guarantees against Adverse Changes in​ the Law – the provisions of​ the Law that have been effective at​ the moment of​ making the investment, should be applied for any foreign investment executed before the changes of​ the legislation setting up legal normative restrictions for the foreign investment.
- Protection against Expropriation – real estate property owned by a​ foreign person can be expropriated only on lawful grounds.
Preferred Types of​ Business Organizations
The obstacle for foreigners not able to​ own land in​ Bulgaria (a law that is​ liable to​ change soon) can be overcome by incorporating a​ company in​ Bulgaria and owning the land as​ an​ asset.
The most common form of​ organization is​ a​ Limited Liability Company .​
Other types are General Partnership, Limited Partnership, Joint Stock Company, Sole Proprietorship, Joint Venture, Holding, Cooperatives, Branches and Representative Office.




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