Buying Property in Bulgaria
According to the Bulgarian Act on Foreign Investment, foreigners can buy buildings but not land — the most common route is to set up a company which then owns the land.
The process, in essence
- Find a property and determine whether it is sold with or without land; with land, you form a company as the land owner (similar to a UK Ltd or a US Inc.)
- Negotiate and agree the final price with the current owners
- Draw up the initial contract and have the property removed from the market (similar to “sold subject to contract”)
- Run the standard checks: title documents, licenses and permissions, debts on title, terms of contract
- Sign the Notary Act (contract to purchase) before a Bulgarian Notary Public — and you are the proud owner of a Bulgarian property
Forming a company, briefly
A Private Limited Company (“OOD”) is a commercial company with share capital owned by its members, whose liability is limited to the amount of capital subscribed. It may be founded by one or more persons, including foreign natural or legal persons; contributions may be paid in cash or in kind.
Our corporate attorney guides every foreign buyer through the full procedure — ask us for the details relevant to your case.
Useful links
- International Women's Club of Sofia
- The Anglo-American School of Sofia
- Government of Bulgaria · Ministry of Foreign Affairs · Ministry of Justice · Ministry of Finance
- Bulgarian National Bank