News

Foreigners to be able to buy and inherit property in Bulgaria

The Cabinet decided on November 2 that foreigners in Bulgaria will be able to buy and inherit property in the country.

On November 2 the Cabinet approved changes to ownership laws, Focus news agency reported.

The decision makes Bulgaria's Constitution and the ownership regulations listed there compatible with European norms on the free movement of capital.

Foreigners would be able to acquire Bulgarian agriculture and forest plots starting January 1 2007.

Changes to the Constitution would result in changes in four other regulations. These focus on protected territories, ownership and use of agriculture plots, forestry regulations and regulations for restoring ownership over agriculture and forest plots.

November 2 2006, Source: www.sofiaecho.com