According the provisions of the Bulgarian constitution alien persons are not allowed to own real estate in the country, i.e. to own the physical land where the house or flat are built on. However, the Foreign Investments Act, allows alien persons with registered local business companies to purchase and own real estates.
Following the registration, or the entry into a business company registered in accordance with local legislation, any alien shall be able to acquire full ownership rights on estates, including on agricultural land. Therefore any alien shall be liable to register a business company in order to have the right to purchase real estate with the land underlying it on Bulgarian territory. We usually advice our clients to register a limited liability company.
Our lawyers shall compile the necessary file of documents and shall register your company. The required minimum registered capital for a limited liability company is 2 BGN (1 Euro) (according to the last changes to the Bulgarian Commercial Law in 2009) deposited in your company’s bank account.