How to buy Property in Bulgaria ?
The law on foreigners owning Property in Bulgaria
According to the Bulgarian Constitution, foreign individuals can buy Property in Bulgaria, but only buildings – Bulgarian villa, Bulgarian house, Bulgarian apartment not Bulgarian land or Bulgarian villa with the plot . Therefore the most common method for foreigners buying property in Bulgaria where they also wish to own the land is to set up a company which then owns the land and the buildings. The law is expected to change on this within the short to medium term with the expected entry of Bulgaria into the European Union (2007). This historic restriction is one of the reasons why property in Bulgaria is so competitively priced compared to Western and Central Europe. Current amendments to the constitution will allow citizens of countries with which Bulgaria has agreements on land sales to buy land / Property in Bulgaria /in 2007 when the amendments would come into effect, while EU citizens will have the right to buy land / Property in Bulgaria / in 2014. In the meantime a company is still required for land /Property in Bulgaria/ ownership.
Foreign investors can purchase Property in Bulgaria directly or through a local company. Only Bulgarian-resident individuals and entities can own land, while non-residents personally may acquire only buildings. Therefore if foreign citizens want to invest in property in Bulgaria , they must register a Bulgaria based company (something that we fully assist with). As soon as the company is registered any properties / property in Bulgaria may be purchased to the company name. The most common type of organization for foreign investors is a limited liability company. Other forms are companies limited by shares (joint stock companies), joint enterprises, business associations, general partnerships, limited partnerships, and sole proprietorships.
If you want to purchase a Property in Bulgaria from our new development Bulgaria – The Green Valley Nessebar Bulgaria, you have to form a Limited Liability Company, to be possible to be owner of the villa and of the plot as well.
Want to buy Property in Bulgaria – visit our new luxury villa development – The Green Valley, Nessebar , Bulgaria |
