Legal treatment of the foreign investments in Bulgaria ::..
I. Conditions and legal requirements for real estate purchases in Bulgaria in case the buyer is foreign person /individual or company/:
1.Purchase of land;
Foreign companies and citizens can buy land in Bulgaria only through Trade Company formed in Bulgaria. The company will buy the land, and on the other side the same company will be 100% owned by the respective foreign person. Bulgarian participation in the company is not necessary at all. The owner of the company can be its manager as well.
2. Purchase of buildings or objects in buildings:
Foreign companies and citizens can buy buildings and objects in buildings without any restrictions.
3. What is the moment when the investor becomes full owner of the respective property?
The buyer becomes full owner of the property in the moment, when the final purchase contract in special notary’s form becomes concluded. The contract /title deeds/ is prepared from solicitor and certified via notary. After the signing of the contract in front of the notary it has to be filled in the special property register in the local Regional court / the register is analogue of the cadastre register in some west European countries/. There the contract obtains special number which can be opposed to every one contract filled latter in the register.
Sofia Properties
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