Foreigners can freely purchase buildings and parts of buildings in Bulgaria. However, certain limitations apply to the purchase of land in residential areas and agricultural land. Below, we will examine these limitations in more detail.
Land in residential areas – EU Citizens
Land in residential areas may be acquired by foreigners if they are citizens of the European Union (EU) or the European Economic Area (EEA). Legal entities established in the EU or the EEA may also freely purchase land in residential areas.
Land in residential areas – Non-EU Citizens
Citizens of countries that are not in the EU/EEA and legal entities that are not based in the EU/EEA may purchase land only in accordance with an international treaty that is ratified by Bulgaria.
Acquiring Agricultural land
EU/EEA citizens as well as citizens of third countries may purchase agricultural land if they have been established in Bulgaria for more than 5 years. Subject to certain conditions, commercial entities registered in the EU/EEA or other countries for more than 5 years or whose owners are established in Bulgaria for more than 5 years may also purchase agricultural land. However, commercial entities whose shareholders/partners are directly or indirectly connected with zones with preferential tax regimes are prohibited from purchasing agricultural land.
Acquiring Agricultural land – Changes in legislation
In 2019, under the pressure of the European Commission, a new legislative bill was submitted to the Bulgarian parliament. If accepted, it will allow EU/EEA citizens to purchase agricultural land even if they are not established in Bulgaria for more than 5 years.
If you need any assistance with regard to the purchase of properties in Bulgaria, please do not hesitate to contact us. We would be glad to advise you with regard to such matters.