Legal Advice

Bulgaria has one of the most liberal foreign investment laws in the region regarding Bulgaria real estate, as well as the foreign investors. According to the Bulgarian Constitution and legislation foreign persons and companies can invest in real estate in Bulgaria either personally or through a local legal entity. Generally speaking, foreigners as persons can acquire only buildings but not land. Only Bulgarian citizens and legal persons (including such with foreign owner) can obtain the ownership of Bulgarian land.

Therefore, the most popular and preferred by non-residents ways to become the real estate owners are:

As far as houses, villas, flats and limited ownership rights (the right of use, the right to build a house, etc.) are concerned, you can directly purchase them as a person.
When talking about Bulgaria real estate with land, you set up a company that will be the owner of the property. Setting up a company in Bulgaria is very easy. All you need is a good solicitor or barrister at law.

Foreign organizations have the right to open bank accounts denominated in a Bulgarian or foreign currency. There is also no limit to the company stake they possess. Moreover, there is a special regime of respect towards the foreign investors on the part of the Bulgarian legislative system, which is a gesture of tolerance to those, who are interested in Bulgaria and are willing to benefit from its future.

It is good to know that real estate market in Bulgaria is particularly well developed due to the fact that more than 80% of the residential properties are private ones, resulting in the traditions and experience Bulgarian real estate owners have in realizing property deals. Even though Bulgaria was accepted to the European Union, the prices continue to stay by far lower as compared to the prices of real estate in Europe. However, a rise in the prices is expected as the real estate market is becoming more and more attractive to foreign investors.

We are here to help and organize the whole process of acquisition for you from the start to the very end. We will not give you only advice, we will be by your side through the whole process of the acquisition of the desired property. We can effectively protect your interests by offering to you the following legal services:

Registering a company in your name. By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership rights. In the described event the land will be acquired by the company.
Preparing the preliminary contract. We undertake to represent you and serve to the best of your interest in the preparation of the preliminary contract and we guarantee you a trouble-free acquisition of the property.
Preparing the notary certified contract. We take an active role in the preparation of this contract by ensuring that it will be certified by the Notary with due speed and efficiency.
Granting power of representation. If you are not in a position to appear in person on the signing of a deal, you may grant us power of representation. Normally power of representation could be granted in one or more of the following events:

Signing of the notary certified contract.
Opening a bank account in your name in Bulgaria.
Paying installments towards the agreed selling price of the property from a bank account in your name (that you will need to open in advance)
In all other events where your presence in person is required but not possible

Legal accounting advice. If you have set up a joint company in your name, you need to be represented before the local tax and administrative authorities. We advise you to enter into an additional contract for legal accounting services with our consultancy.