Change in law - Foreigners now allowed to own land?

[hoover]

Sell Overseas Property

so will this change happen on the 1 of Jan 2012 and will they hit us with large tax bill to sell the house from company to ourself or large bills to wind down the company
mike

[Slaphead]

Sell Overseas Property

Well, I doubt it will be automatic and cost free.
At the end of the day you and we had the choice of 'to buy or not to buy' within the rules/laws relevant at the point in time you purchased.
So, (IMHO) if like us, you bought as a company and had to form a company, then you made that decision all on your own. No-one co-erced you into doing so. Plus, the knowledge that things may change post 1/1/12 was freely available.
If it transpires that those who chose to buy pre 1/1/12, now have to pay to make things private/personal ownership, the so be it. You/we knew enough at the time of purchase to make an informed decision.

[gimlet]

Sell Overseas Property

Here's another lawyer's page on it in reasonable English.

http://taschevapartner.com/news/0101201 ... oses-bulga

There's not much news on it in the Bulgarian press, presumably because they got over the frothing at the mouth in 2007 when it passed into law.

They're much more interested in the EU work restrictions, some of which also timed out as part of the transitional measures on 1 January.

You would expect agents dealing with British people to be trumpeting the change. Yet, there is a resounding silence, which may indicate that they don't regard it as a "day of liberation". Or that they know F*** all about anything

[ChrisF]

Sell Overseas Property

I rather think that Bulgaria is entitled to, and has taken, a two-year extension on this particular change in the law so it will be 2014 before it happens.


Chris

[pollypepper]

Sell Overseas Property

We have a a L/C card that expires in 2021 So can I now be classed as a EU citizen and the same as my fellow Bulgarian.But it all sounds to good to be true.
So what is my next step PLEASE

[targobnb]

Sell Overseas Property

I rather think that Bulgaria is entitled to, and has taken, a two-year extension on this particular change in the law so it will be 2014 before it happens.


Chris

Bulgaria has extended the law regarding agricultural and forestry land, However as for private land the law changed for EU citizens on 1st Jan 2012 with regards Land ownership, you can now have land (except for the above in your own name)

I have had prices for the service of a Advocate to handle the ownership change from 200bgn the cheapest so far to 600bgn the most expensive so far.
This fee is for the Advocacy service and does not include other fees or taxes.

I Intend to start the ball rolling next week.

[brianj42]

Sell Overseas Property

Targobnb, you need to double double double check on this with your lawyer before you set off.

I am supposed to be in Sofia in 2 weeks to buy some plots and the lawyer has assured me that this is now the case.

But

I have written to a property lawyer in Sofia who is English and is actually recommended by the Embassy, and I know from experience is top at her job, and she says:

"According the laws you should be able to buy a house with the plot of land (the garden of the house), as the five year period has expired.
However, the reality is different: for the whole of the last year the Bulgarian parliament has not passed and approved the order in which EU nationals should buy land. How and when this law will apply in reality remains to be seen."

Which version do I trust ?

[targobnb]

Sell Overseas Property

Good Point, and Thx

I read the law and my understanding was that the Government had the option to extend the 5 years to 7years but never took the option with the exception of agricultural or forestry land.
The latter we know to be true

[seathrift]

Sell Overseas Property

Given the uncertainties of Bulgarian law and it's interpretation generally, I am staying with the 'no change' option until someone has been brave enough to prove the new status of Brits. in a BG court.

[rainbowwarrior]

Sell Overseas Property

UUUJJJUUUSSSS!!! who here dear forumers can share the law on a wesbite of the BULGARIAN GOVERNMENT LAW? ANYONE OUT THERE? THE LAW IN BLACK & WHITE IN BULGARIAN PLEASE. NOT some mambo jambo jungle lawyer websites. Even if and that is if with capital letters I F the law changed i want to see it happen go into the Notary of your choice and try to buy without your companyes.

A COMPETITION IS IN ORDER! FIRST ENGLISH MAN or LADY with a BULGARIAN notary act in their name in the year of 2012 WINS SEOMTHING!