Buying Land in Bulgaria
Investing in Bulgarian Land
Guide
Buying land in Bulgaria is a straight forward easy process.
The first things you need to consider when buying land in Bulgaria are current laws.
Right now, Bulgarian laws prohibit foreigners from owning land.
This is hoped to change in the near future, but, none the less, if you are not a current citizen of Bulgaria you can not own land.
The only way that a foreigner can buy land is by registering a company.
Anyone who is a legal citizen of Bulgaria can go through all of the normal land buying process which is finding the land, buying the land, and building on the land.
If you are new to investing in real estate in Bulgaria you first need to set upa registered company
A registered company is basically a business in Bulgaria that will own the title of your land.
Many lawyers and/or real estate agents will be able to help you with this part.
The usual cost is a 2 BGL bank deposit. This is your companies liability,you can withdraw this after 4 weeks. There is also the cost of the company registration processing through a solicitor, which can cost from 400 EUR all the way to 600 EUR.
You will also be required to submit annual accounts when you are through with the registration, so you may want to hire a local accountant, whose costs will vary. About 100 eu per year. We take care of all this for you as we have our onboard Accountants and Lawyer.
The entire process of registration usually takes about one week.
Once the registration is complete you will receive a Company registration card number, this is the ownership number that proves your company owns the land .
This land could be residential, meaning, you want to buy the land to build a house, or agricultural, meaning you want some land to have a house or farm, or it could be a plot of land that comes with a house or it could be for commercial investment.
The land, and the registration of the company to own the land should definitely be done with the help of a lawyer.
Work with a real estate agent when searching for the land to be bought and then with a lawyer to handle all of the legalities of buying the land.
Bulgaria is a wonderful place to own land and invest, and the legalities of the process should not discourage you from doing so.
Bulgaria is a country on the move, full of history intrigue sunshine, sky slopes and the cheapest land prices in europe. and would be a wise investment.
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