Bulgaria has some of the most liberal foreign investment legal regulations in Eastern Europe regarding real estate purchases.

Who can buy and how?
The Bulgarian Constitution stipulates that foreign persons and companies can invest in real estate either personally or through a local legal entity.

Buying personally:
Foreigners buying as persons can buy buildings but cannot buy land. However, in March 2007 the Bulgarian Parliament gave final approval to amendments to the Ownership Act regarding land ownership, with changes on foreign ownership forecast to be finally made to present legislation in or after 2010.

There will still be some purchasing restrictions, such as those pertaining to agricultural land, or regarding restricted access areas which require Government sanction,

Local Legal Entity.
By far the most popular and simple method that we are experiencing being conducted through our in-house lawyers, is to set up a Limited Liability Company that will be the owner of the property.

How to register a Legal Entity
Setting up a company, (which does not need to operate, but is merely a tool to purchase property with land), is easy through our in-house lawyers. It takes two to three weeks to register a new company through a notary.
The company will be registered with the court, the tax authorities and with the Social Security Institute.

Other ways of purchase are through joint ventures with existing local companies, through privatization, or to make a portfolio investment.

Residential Permit
EU member citizens can stay in Bulgaria for up to 90 days without having a visa within each period of 6 months. If one wishes to stay in the country for more than 90 days within each period of 6 months she/he should apply for a permission to the authorities for Administrative Control of Foreign Persons of the Ministry of Internal Affairs of the Republic of Bulgaria or such person should reapply for a long-term Bulgarian visa at an Embassy of the Republic of Bulgaria.

The Bulgarian residency gives all rights of a Bulgarian citizen except the right of voting. Obtaining a Bulgarian residency you will be able to buy land and other properties without any limitations and you will be able to enter and leave the country as many times you like without needing a visa.

To obtain a permanent residence one must spend 5 years in the country under the long-term stay conditions. A long term stay permit is valid for 1 year and is re-issued every year. During that time you are issued a Bulgarian Identity Card. After 5 years under long-term permit one can apply for a permanent residence.

To get the first year long-term permit you need to present the following documents: 

• A valid D-type Visa. You can apply for it in any Bulgarian embassy. More information about D Type visa for British citizens can be obtained at www.bulgarianembassy.org.uk
• A proof of national insurance or social security in the country of residence (such document can be issued from your local national insurance office). 
•  Minimum 3 000 BGN (approx. 1000 GBP) deposit in a personal bank account in Bulgaria .

All applicants must have clean crime records and must not be subject of criminal proceedings, otherwise applications will be rejected.