If you are planning a direct purchase:
Foreign citizens and foreign companies can directly acquire buildings, premises in buildings and limited real rights / namely the right to build, the right to use / in Bulgaria. The foreign person who acquires real rights over real estate must be registered in a special register.
As a result of the accession of the Republic of Bulgaria to the European Union, specific provisions were introduced related to the acquisition of real estate by EU citizens and legal entities registered in an EU Member State or the European Economic Area / EEA /. Relevant legislative changes were implemented in the Property Act, the Forest Act and the Agricultural Land Ownership and Use Act.
People and companies from countries that are not members of the EU and the European Economic Area may acquire the right of ownership over real estate under the terms of an international treaty ratified in accordance with the provisions of the Bulgarian Constitution, promulgated and entered into force.
Foreigners (both from EU or EEA Member States and from third countries) can acquire real estate ownership under the conditions of inheritance by law.
In case of inheritance by law of agricultural land, forests or forest territories, if the foreigners do not fulfill the conditions provided for in the Agreement on the Accession of Bulgaria to the European Union, or in case something else is not provided in an international agreement, they are obliged within three years from the opening of the inheritance to transfer ownership to people entitled to acquire such real estate.
Buying a property is way more easy if do it Indirectly:
Any foreign company and citizens can acquire any type of real estate, including land, by registering a Bulgarian company to act as an acquirer. It is possible that such a Bulgarian company is 100% owned by a foreign investor (no matter if it is a person or another company).
Another possibility for indirect acquisition of real estate in Bulgaria by a foreign company or person is the purchase of shares in the capital of an already existing Bulgarian company, which can then act as an acquirer.
Foreign companies or people may also acquire shares in the capital of existing Bulgarian company that already own real estate in Bulgaria.
Would you like to find out more about the process of buying real estate step by step? Would you like to find out how to conduct a legal and third-party rights property inspection? Request and download the Guide below:
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