Think about Purchasing a 2nd House in Bulgaria
Property for Foreigners
There are no barriers for foreigners to obtain the title for buildings, as well as genuine rights (right of use, right of building and construction). Already there is only one limitation: it is not permitted by law for immigrants to end up being owners of the land under the structures they have actually bought. They are not allowed to buy agricultural land as well (this is a Constitutional prohibition). This holds true for physical individuals. All constraints become irrelevant if foreigners set up or sign up with a business incorporated under the Bulgarian legislation, which can get complete land ownership rights consisting of ownership rights on agricultural land. Therefore one of the most typical methods for foreigners to purchase home in Bulgaria (homes with courtyards, land etc) is to establish a business which then owns the land and the structures.
It is thought about that in Bulgaria a genuine free enterprise for land will be developed some time after Bulgaria enters into EU. This historical constraint is among the reasons that property in Bulgaria is so investors in Bulgaria
There are a number of assurances competitively priced compared with Western and Central Europe.
Legal treatment of foreign for foreign financial investment in Bulgaria:
– National treatment
– Many favoured country status
– Concern of International Treaties
– Legal Guarantees against Unfavorable Modifications in the Law– the arrangements of the Law that have been effective at the moment of making the investment, should be looked for any foreign investment carried out prior to the changes of the legislation setting up legal normative limitations for the foreign investment.
– Defense against Expropriation– realty home owned by a foreign individual can be expropriated just on legal grounds.
Preferred Types of Organisation Organizations
The barrier for immigrants not able to own land in Bulgaria (a law that is liable to change quickly) can be conquered by integrating a company in Bulgaria and owning the land as a property.
The most typical type of organization is a Restricted Liability Business. Other types are General Collaboration, Limited Partnership, Joint Stock Business, Sole Proprietorship, Joint Endeavor, Holding, Cooperatives, Branches and Agent Office.