RIGHT OF EU CITIZENS RELATED TO THE POSSESSION OF LAND
IN THE REPUBLIC OF BULGARIA
The procedure under which foreign citizens aquire and
exercise the right of ownership over real estates on the territory of the
Republic of Bulgaria is regulated by the Constitution of the Republic of
Bulgaria (Article 22), the Ownership Act (Article 29 and Article 29a), as well
as by a number of other enactments, containing special rules – Ownership and
Use of Farm Land Act (Article 3, Article 3a, Article 36, Article 10a), Forestry
Act (Article 23 and Article 24), Inheritance Act (Article 5), Protected Areas
Act (Article 10), etc.
The citizens of the EU member states or of the member
states under the Agreement on the European Economic Area may acquire right of
ownership over land in compliance with the requirements that have been
stipulated by the law in compliance with the Treaty
concerning the accession of the Republic of Bulgaria to the European Union. Until the
end of the year 2011 foreign physical entities were restricted from possessing
land as a second home. Since 1st January 2012 this restriction no
longer exists and foreign investors may acquire the land on which their
dwellings have been constructed. The restriction is still related to the
ownership over farm lands. It will become irrelevant on 1st January
2014.