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Bulgaria to remove limitations to foreigner property purchase

The Parliament was considering a move from forbidding foreigners to own property in the country to some special regulations.

Changes feature in ownership regulations, discussed on first reading on December 7. Voting on the new laws would take place on December 8, Bulgarian National Radio reported.

Such changes were needed because of Bulgaria's upcoming EU entry. The country accepted EU requirements for the free movement of capital.

Foreigners will be allowed to purchase property in Bulgaria, following international contracts. This would guarantee the opening of Bulgaria's property market upon the country's EU entry, the national radio said.

Bulgaria is going to introduce a new term 'citizen of EU member state' to replace the term 'foreigner' used until present in ownership regulations, the report said.

The same regulations would apply to citizens of countries that are members of the European Economic Community and of Lichtenstein, Norway and Iceland.

Current regulations for the acquisition of a second home would remain valid for citizens of EU member countries, who reside permanently in Bulgaria, the report said.

Current regulations for the purchase of property by international organisations will remain unchanged.

December 8 2006, Source: www.sofiaecho.com

<< nextprev >>

  British property seekers see Bulgaria as fourth most attractive destination..

  Ministry discusses construction and environment protection in Bulgaria..

  Construction in Bulgaria's Bansko stops on January 1 2007..

  Foreigners to be able to buy and inherit property in Bulgaria..

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Friday, November 21 2008

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What`s on in Bulgaria

Art

  • GONE WITH TIME
    What: Rada Tsankova has chosen this title for her solo exhibition because her paintings pose the following question: Are we the ones who go through time, or does time pass through us? It’s an eternal question and the discussion is intimate.
    When: Until November 20
    Where: Rakursi,4a Khan Kroum Str, Sofia
  • NEW YORK-BRUSSELS-SOFIA
    What: In Edmond Demirdjian's paintings the dynamics are evident as well as the unique rhythm of his colours that succeed in conveying the intensity of New York.
    When: Until November 28
    Where: Edmond Atelier,21 13-I March Str, Sofia

Live Music

  • HAGGARD and EXCITER in METAL MAYHEM
    What: For the first time in Bulgaria the symphonic thrash metal band from Germany, Haggard and the legendary Canadian outfit Exciter will hit the stage together. They will be joined by Remember Twilight and Balkanjii.
    When: November 20, 6pm
    Where: Blue Box club, Sofia
  • TEREN Music Parties
    What: Elements of Feelme Crew have been very active on the musical Tereni and there will be a lot more from them in the future. Teren (which translates into English as terrain) is Bulgarian slang for a house party.
    When: November 22, 10pm
    Where: Party Centre 4KM, Sofia
  • AL Di MEOLA QUARTET - NEW WORLD SINFONIA TOUR 2008
    What: The 2008 World Tour by guitar virtuoso Al Di Media and his quarter New World Sinfonia will culminate with two performances in Bulgaria.
    When: November 22 and 23
    Where: Plovdiv and Rousse
  • MIZIA: THE LISBON SONG (JAZZ)
    What: In her latest project, Susana Maria, aka Mizia, has returned to classical fado - the nostalgic, heartbreaking soulful sounds of the Portuguese capital’s dimmed and noisy taverns.
    When: November 29
    Where: Bulgaria Hall, Sofia