Why the need to form a Bulgarian Company?

If you are a foreign person, you are still not allowed by the Bulgaria Law to own as a physical person a property which comes with land. Properties that come with land are: houses with gardens, plots and in some cases, apartments which go together with ideal parts of the land the block was built on. The only way to buy a property with land in Bulgaria is by forming a Bulgarian limited company. This is a smooth and straight-forward procedure, which has been used by thousands of foreigners so far. BULGARIAN COMPNAY FORMATION will help you with the registration of a company in Bulgaria.

Bulgarian company registration now for 300 Euros!
The registration of a company in Bulgaria is now offered at a lower price of 300 Euros. This reduction is due to the cheaper company formation because of the new system of the online Trade register and lower share Capital required.
The company you register will own the property and you will own the company and its assets. There is no need to have a Bulgarian partner or manager of the company - any foreign person can register and own 100% of the shares of a Bulgarian company. It will be a regular limited company, which can also trade and you can do business with it if you wish. Tax conditions in Bulgaria are very favourable for starting a business. It  is worth pointing out at this juncture have a Bulgarian company owning land or any other property / assets does not mean the company is or needs to trade in anyway.

Will foreigners be allowed to own land as physical persons and when?

EU physical and legal persons will be allowed to own land in Bulgaria in the coming few years. After Bulgaria joined the EU in January 2007, the Treaty of Accession of Bulgaria to the EU allows Bulgaria to keep the prohibition for EU physical and legal persons to buy land in Bulgaria for up to 5 years for land and up to 7 years for forests and agricultural land after its accession to the EU. So, it will take a few years more for EU countries’ citizens to be allowed to own land in Bulgaria and in the meantime they can do this by registering Bulgarian companies it is widely expected to be accepted By 2014. For citizens of countries, which are not EU members, things will probably remain the same as now and they will need to register companies in order to buy land in Bulgaria.

Setting up a Bulgarian property Investment Company Ltd

The next stage is to determine whether the property that you want to buy has land associated with it or not. In order to own land in Bulgaria, you either have to be Bulgarian or buy it under a Bulgarian registered company. This is because under the current legislation, Bulgarian law forbids foreign individuals from owning land. At this point some of you may be tempted to walk away. However, it's really just a formality, and perfectly above the law, so what are you waiting for? If you are buying an apartment, you can generally get away without forming a company. Apartment purchases are, therefore, comparatively more straight forward. But there are exceptions. If you are buying an apartment that has and associated with it, you will also need to form a Bulgarian company. So don't be fooled by those agents who may lead you to believe that you will not have to form a company if you are buying an apartment. There are exceptions.

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This information was provided by: Bulgarian Company Foramtion.

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