Legal advice

Bulgarian law is one of the most liberal in the region according to foreign citizens willing to own real estate in the country. Now foreign citizen may purchase property but not the land. To buy Real Estate together with land the foreign buyer need to register limited liability company /ltd/ in Bulgaria that will become the owner of the real estate. Customers who will purchase an apartment do not have to register Limited Liability Company because apartments are built of the ground and the buyer do not purchase land. The acceptance of Bulgaria into European Union in the near future will enable foreign citizens to purchase real estate without any restrictions. This would be around year 2010.

Limited Liability Company can be formed from Foreign or Bulgarian citizen/judicial, physical/. The minimum capital required to rise for registration LTD is 5000 leva (around 2600 euros) or 70% of the capital 3500 leva=1800 euros. Shareholders must have an open bank account in Bulgaria with the capital raised to begin registration, which can be fully withdrawn after completion.The new company exists from the time added to the Commercial Register of the district court where company shall be based. The Bulgarian State Gazette publishes all legislation in the country for the law to take effect and to announce public the act of formation. The final step to complete registration of a new company is to register immediately with the National Tax Register Authority.

* Notice: The information provided above is not official and Danny M cannot be liable for it.

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