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Articles

Changes to the Agricultural Land Ownership for Foreign Citizens in Bulgaria

Written by: Editor

Changes-to-the-Agricultural-Land-Ownership-for-Foreign-Citizens-in-Bulgaria.jpgBuying farm lands in Bulgaria by foreigners established or not in the country have been put on a debate by the authorities. The main aspect regarded how the ownership of Bulgarian domains can align with the European Union rules and regulations, avoiding potential infringements. As for the investments in Bulgaria, the country sustains the entrepreneurs and companies willing to establish their business presence on the market by proposing varied incentives, including in the agricultural sector. The company formation procedure in Bulgaria is less bureaucratic and can be explained by our Bulgarian agents in company incorporation.
 

How a land in Bulgaria can be owned by foreign investors

 
In Bulgaria, citizens from abroad or company owners interested in acquiring land in the country have the possibility to do so if they have settled for at least five years in the state. The present rule must be changed, according to the Bulgarian authorities, and must align with the EU legislation. Having no boundaries when buying land in Bulgaria regardless of the nationality of a citizen will be implemented as a new rule to the Agricultural Land Ownership and Use Act in Bulgaria, but properly managing the regulations in order to avoid the uncontrolled purchase of the Bulgarian farm land.
 
Having businesses in Bulgaria means having diverse advantages like a favorable taxation system among many others. If you are interested in starting a company in Bulgaria, you can talk to one of our specialists in company incorporation who can provide complete support in document matters.
 

Avoiding EU infringements

 
Bulgaria is part of the European Union since 2007 and it had to adopt the European rules in a fast manner. The land ownership in Bulgaria might be considered a sensitive topic as the authorities had to place some restrictions like buying a land only after years of settlement in the state, whether as a company or private person. The farming sector in Bulgaria will meet improvements as the Ministry of Agriculture and Foods decided to adopt the legal barriers to the land ownership without having to infringe the rules imposed by the EU.
 
If you are a foreign business person who wants to set up a company in Bulgaria and need a starting point regarding how the documents should be prepared, please feel free to contact our team of company formation specialists in Bulgaria.
 
 
 

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