Land aquisition in Bulgaria
The citizens of Great Britain can no longer buy land in Bulgaria and land aquisition in Bulgaria. The ban does not affect past cases, as well as the purchase of other real estate – apartments, houses, etc.
Changes after Brexit – 01.01.2021
rom January 1, citizens and companies from Great Britain can no longer acquire land (including agricultural land, forest land) in Bulgaria except by inheritance by law.
The reason for the restriction is that they have the status of third countries for the European Union as a result of the the BREXIT from the European Union.
The ban does not affect the acquisition of ownership of other real estate (apartments, houses, etc.). Land aquisition in Bulgaria
According to the agreement of December 30, 2020, Bulgaria has explicitly expressed a reservation, retaining the effect of Article 22 of the Constitution
The foreigners and foreign legal entities may acquire the right to own land under the conditions arising from the accession of the Republic of Bulgaria to the European union
In this situation, the British citizens and companies that acquired land in Bulgaria by December 31, 2020, enjoy the protection of the Constitution.
The Constitution states that the alienation of property rights can take place if they are present at the same time. three prerequisites: “on the basis of law, in the presence of state or municipal needs that cannot be met in any other way after prior and equivalent compensation”.
The restiriction for the foreign cititizens
The restriction can be circumvented if British citizens own a company registered in Bulgaria. Land aquisition in Bulgaria
This possibility exists only for land located in urban areas, because the Law on Ownership of Land prohibits companies in which partners or shareholders are foreigners, to aquire agricultural land.
Avioding the regulations
The very simple way to avoid the regulations is to set up a private company in Bulgaria and purchase the land.
It is important to specify that foreign nationals from EU Member States or countries party to the Agreement on the European Economic Area may acquire land under the conditions:
- From 01.01.2012 – land for a second home (other than the main one);
- From 01.01.2014 – agricultural land, forests and forest land with the company registered in Bulgaria;
- For EU citizens ßself-employed farmers can currently acquire ownership of agricultural and forest properties for agricultural use.