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Property in Bulgaria is the fastest growing asset in our country.
Last year the property prices in Bulgaria have gone up with more
than 25 % in general. Some real estates have gone up with 50 % for
one year, especially the ones in Sofia, in the Black Sea beach resorts
(Sunny Beach) and in the ski resorts (Borovets, Bansko).
The improved economic conditions, political and social stability
in Bulgaria over the last 3 years brought to a real boom of the
prices of property in Bulgaria. Other important factor for the rising
property market is the huge tourism potential in our country. There
are great natural attractions - high mountains, beautiful and clean
Black Sea coast, preserved rural areas, minimum urbanisation, thousands
years of history, etc. Nowadays Bulgaria is considered as the fastest
growing tourism market in Europe. This is something that foreign
buyers of property in Bulgaria appreciate the most. Together with
the constantly rising prices, buying property in Bulgaria is one
of the best investments that one can make these days.
Further Bulgaria was invited to become a NATO member targeted for
2004 and full EC membership is scheduled for 2007. Now is the right
time to invest in property in Bulgaria.Bulgaria is a politically
stable country, and the introduction of a currency board in 1997
stabilised the country's economy. Reaching year of 2007, Bulgarian
laws are improving and changing in accordance with the laws in the
countries of the European Union. Bulgaria has one of the most liberal
foreign investment laws in the region.
Foreign investment typically assumes one of the following forms:
establishing a joint venture with existing companies, state-owned
or private; acquiring a company through privatization; setting up
a new (green field) venture; or making a portfolio investment.
Foreign investors can purchase property in Bulgaria directly or
through a local company. Only Bulgarian-resident individuals and
entities can own land, while non-residents personally may acquire
only buildings. Therefore if foreign citizens want to invest in
property in Bulgaria, they must register a Bulgaria based company
(something that we fully assist with). As soon as the company is
registered any properties / property in Bulgaria may be purchased
to the company name. The most common type of organization for foreign
investors is a limited liability company. Other forms are companies
limited by shares (joint stock companies), joint enterprises, business
associations, general partnerships, limited partnerships, and sole
proprietorships.
The law does not limit the extent or amount of foreign participation
in companies. Foreign individuals and companies can open unlimited
number of accounts in any Bulgarian banks, in any hard currency
or the local Bulgarian Levs. There is very serious talking that
soon the main law in Bulgaria, the Constitution will be changed
very soon, so that all foreigners who wish to acquire property in
Bulgaria will be able to do so personally, so registering a local
company will not be needed. However we strongly advise not to wait
until the law is changed, as it is expected that this will give
even a stronger push to the property prices and they will suddenly
go up.
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Mobile phone:
00359 897 858 667 |
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Office number:
00359 2 962 40 35
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Best Bulgarian Real Estate Ltd - A Leading Agent for Property in Bulgaria
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