Polycontact is ready to assist you in any legal aspect of purchasing a property in Bulgaria. With our panel of experienced and English speaking lawyers we can give you advise.
The Entry to Bulgaria: Citizens of the European Union can come to Bulgaria without a visa and have the statute of short-term staying foreigners. It is necessary to register the address of the foreigner in the Local Police Department for the period of time he/she is staying in the territory of Bulgaria. In case you want to stay a longer period of time in Bulgaria, Plolyconatct will advise you on all the procedures you have to go through and the papers you would need.
Purchasing Bulgarian Property: In July 2000, partly to eliminate negative economic trends and attract more foreign investment, the Bulgarian parliament approved overnment proposals that will erase regulations on the real estate market. The amendments in the Property Bill made it easier for foreigners to buy buildings.
Now foreign nationals can legally own a property in Bulgaria. Due to various constitutional restrictions, foreigners are not allowed directly to buy in Bulgaria yet, especially in the coastal area. Therefor a legal construction is needed. The foreign person can act as a local person by establishing a company whose private owner of the capital is himself/herself. The most felicitous form is the LLC(Limited Liability Company). In this way the buyer is the owner of the land and the property, and can act through his company as a Bulgarian person.
The Ownership: Title to privately owned land and/or buildings is most commonly registered with a notary public in Bulgaria. Title can also be registered with the municipal land commision
There is no any danger of claims for the restitution of non-agricultural land or buildings appropriated under communits rule as such must have been lodged with the Bulgarian government prior to June 1993. Agricultural land claims could have been lodged up until December 1996.
Of course, you may relax and let Polycontact take care of the paperwork this entails. Our attorneys will be pleased to guide you through the necessary procedures. Should you need further information, or have a question, please, feel free to contact us.