Legal subtleties of real estate purchase in Bulgaria
It seems to many that buying real estate is very simple, you just need to have a means for this. But, if the property is abroad, then a number of their nuances and difficulties arise. They depend on the country in which real estate is located. In this note, we will consider real estate in Bulgaria.
The laws of Bulgaria do not prohibit the purchase of real estate on their territory of real estate to persons non -residents. So, in Bulgaria, an individual from another state and a legal entity can buy real estate. Where to buy real estate in Bulgaria, you decide, but regardless of this, an individual will need a passport, and the legal entity will need the entire package of the company’s charter documents.
If you plan to buy a villa or cottage, then you should pay attention to the fact that in Bulgaria the sale of land plots is prohibited. Therefore, the house with the ground for an individual is problematic to purchase. And for a legal entity registered in Bulgaria, regardless of the citizenship of the founders, such an acquisition is quite legal. True, difficulties may arise with some apartments. After all, the land on which an apartment building is built is usually distributed equally between apartment owners. On average it is about 0.5 square meters per 1 apartment.
There may be three options for solving this problem.
1) you can buy an apartment in a house, which is built specifically for foreign citizens. There are such apartments in Bulgaria that are decorated without land.
2) you can register an organization in Bulgaria and arrange land for this company. It is not even necessary to carry out any activities. At least the law does not say anything about this.
3) you can buy an apartment or build a house by placing a plot of land for a long time for a long time.
In addition to the ban on the sale of land in Bulgaria to foreigners, there is also a ban on the sale of agricultural lands, as well as plots for construction or forests. In these cases, it is possible to place a lease with a minimum period of four years. The maximum term of such a lease is not limited and you can even issue a rental for 100 and 200 years ahead.