Parliament In Bulgaria To Vote On Changes In Foreigners Ownership Rights

Bulgarian Parliament discussed on second reading the changes in the law for ownership including a change from a banning to a restrictive regime of ownership for foreigners.

Parliament will vote the texts on March 9, Parliament speaker Georgi Pirinski said.

According to the ownership ban foreign citizens and companies do not have the right to own land in the country. Law changes will give the right of land ownership under a condition requiring international contracts on property deals.

The restriction for acquiring land for a second residential property by EU citizens without permanent address in the country will remain.

Parliament will also vote on the removal of the ban saying that foreign companies and individuals can not own protected forests and land terrains. State-protected property has been excluded from the list of terrains which could be acquired.

Self-employed EU citizens, who want to settle in Bulgaria permanently will have the right to acquire agricultural plots. sofiaecho.com