Hi

Equinus here again

The aspect of when buying property in Bulgaria seems to be creating a little confusion to us as some estate agents seem to indicate that it is necessary to form a company before you can buy a house and others seem to imply that forming a company is not necessary.

As Bulgaria became part of the EU in 2007 I am wondering what is now correct as some people have implied that estate agents are indicating that it is necessary to form a company just to get money from you.

If forming a company is required is an estate agent/solicitor/lawyer able to set it up on your behalf if you give them power of attorney. Some sites imply that you need the company formed before you can go ahead and purchase, so it would be necessary that it be set up before the final step of selling up here to buy out in BG occurs.



Equinus

This info from our legal adviser if it helps ?

IMPORTANT INFORMATION
About Purchasing Of Land In Bulgaria Without A Company

Since the beginning of April we have heard totally different requirements from different Notaries in regards to a puchase of a regulated plot by a EU citizen (for example a Notary public from Momchilgrad had required a residence permit card from the EU citizen, contrary to the requirements of the Contract for accession of the Republic of Bulgaria to the European Union and according to the third part of the Annex 6 of the Treaty of Accession of Bulgaria and Romania to EC).

Some of the Notary Public assert that the EU foreigners have the right to purchase only one land plot as physical persons, i.e. in case the buyer purchases more than one real estate, the second and the next plots should be purchased by the company.

Such advice and practice is wrong because each EU citizen has the right to purchase as many land plots as he or she likes.

We believe that with the expert help of our negotiations and the assistance of the Notary Chamber of the Republic of Bulgaria such kind of problems can be and will be fully avoided.

If you are going to purchase agricultural land plots in Bulgaria do not hesitate to contact Bulgaria Legal since there are definite conditions under which a foreigner may acquire such real estate without a company

A mail to them with any questions may e of help - [You must be registered and logged in to see this link.]

We were the first EU citizens from outside BG to buy in our own name in the Pavlikeni region of Bulgaria. We have two friends living in the same region that have since also done the same. Provincial councils can be taken to court if they fail to abide by the new law which came into force on the 1st of January 2012. Each region has adopted or is about to adopt the new law and sell to EU citizens without them owning a company. Some estate agents fail to apply the new law with clients for some reason, so it is important to check exactly what is going on in the region you wish to purchase.

itchyfeet wrote:

We were the first EU citizens from outside BG to buy in our own name in the Pavlikeni region of Bulgaria. We have two friends living in the same region that have since also done the same. Provincial councils can be taken to court if they fail to abide by the new law which came into force on the 1st of January 2012. Each region has adopted or is about to adopt the new law and sell to EU citizens without them owning a company. Some estate agents fail to apply the new law with clients for some reason, so it is important to check exactly what is going on in the region you wish to purchase.

Many thanks itchyfeet

It may also depent on where you are? have a look at these

viewtopic.php?f=12&
t=5089&
p=45860&
hilit=Pdf#p45860

viewtopic.php?f=12&
t=5208&
hilit=Pdf

BGTRAVELLER wrote:

It may also depent on where you are? have a look at these

viewtopic.php?f=12&
t=5089&
p=45860&
hilit=Pdf#p45860

viewtopic.php?f=12&
t=5208&
hilit=Pdf

Many thanks BGTRAVELLER