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Foreign Citizens are Now Allowed to Buy Land in Bulgaria - The Latest EU Member |
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The article shows some facts about acquiring land in Bulgaria and some parametres of the land market in the latest European Union member. |
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| Author: Penka Atanasova |
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Foreigners, who are not permanently resident in Bulgaria will be able to own land for a second home after the expiry of the terms set in Bulgaria's EU accession treaty.
Non-Bulgarian citizens will also be allowed to have forests and land in preserved areas, unless these areas are not exclusive state property. A buyer of a piece of land in Bulgaria should make sure whether the property he is about to buy is a part of a protected area or not, because if he buys a property in a protected area he will have to follow the rules for using a land in a protected area.
Citizens of the EU who want to buy agricultural land in Bulgaria for farming and/or agriculture in Bulgaria are also allowed to do so.
So far, foreign citizens who want to acquire land in Bulgaria had to establish a local company and buy the land on their company's behalf. This was a routine, legal procedure, used by the thousands foreign buyers of Bulgarian properties. Now, after joining the European Union, Bulgria harmonized this law with the EU legislation. And foreigners who want to have land in Bulgaria no longer have to settle a company to buy it. This made acquiring land from non-Bulgarian citizens a much easier and less expensive procedure.
Land and plots attract the attention of foreign investors. Their price has been continuously increasing in the last years. The new coming obstacle for those investors is the project "Natura 2000" declaring a number of plots in different parts of Bulgaria as preserved nature areas. This is a new project for Bulgaria, triggering a number of debates and discussions and if somebody is about to buy a plot or agricultural land he should be sure that it's not a part of "Natura 2000".
Penka Atanasova
About Author
Penka Atanasova has beed dealing with all types of real estates for the last 6 years. http://www.moradabg.com
Article Source:
http://www.1888articles.com
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