Bulgarian Property Law
Posted: Sun Dec 05, 2010 8:45 pmHi
Has anyone heard anything about this or whether it affects us? It came from the 'A place in the sun' website so should be reliable
Foreigners who purchased land or a property in Bulgaria before 2008 are being urged to re-register their Bulgarian homes or face potentially losing their property.
Because overseas nationals are not permitted to buy property in Bulgaria with land in their own name, the land portion must be bought through a Bulgarian registered company.
Under Bulgarian commercial law, such companies must re-register with the Bulgarian Registry Agency before December 31st this year. Any companies not doing so will be removed from the Bulgarian Registry and put into liquidation. This would result in a loss of company assets as well as responsibility for the liquidation costs.
Wendy
Has anyone heard anything about this or whether it affects us? It came from the 'A place in the sun' website so should be reliable
Foreigners who purchased land or a property in Bulgaria before 2008 are being urged to re-register their Bulgarian homes or face potentially losing their property.
Because overseas nationals are not permitted to buy property in Bulgaria with land in their own name, the land portion must be bought through a Bulgarian registered company.
Under Bulgarian commercial law, such companies must re-register with the Bulgarian Registry Agency before December 31st this year. Any companies not doing so will be removed from the Bulgarian Registry and put into liquidation. This would result in a loss of company assets as well as responsibility for the liquidation costs.
Wendy