Will a company no longer be required to purchase in Bulgaria?

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podd

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As far as I know (though possibly I'm wrong) in order to purchase in Bulgaria one has to set up a company in order to do this, and it's not possible to purchase just as an individual.

If this is correct, will this be changing at the beginning of 2007 when Bulgaria joins the EU? Will it be possible to purchase a house in Bulgaria as an individual and not be required to set up a company?
 
Yes you have been misinformed. You need a company to purchase LAND.

About the Land Rule changing when Bulgaria enters EU - I dont know!
 
Yes, you will still need to set up a company (straight forward process) to buy land. Bulgaria are changing this so that foreigners can buy land but they reckon it will be at least 7 years before this change is implemented.
 
Thanks

So even at the moment it's possible to purchase a house in Bulgaria without setting up a company?

It can just be purchased as a private *non-Bulgarian-resident* individual?
 
AFAIK No,
You can't buy a house because the house is on its own plot of land. You will need to set up a company.
But you can buy an apartment without setting up a company.
 
Thanks, that's what I had thought.

I wonder if this will change at the beginning of 2007 when Bulgaria join the EU?
 
He just said it will take 7 years to implement. NOT Jan 2007....
 
It appears that a company will still be a requirement for some time more, until laws are brought into line with European norms. Not a high priority issue for the government, and nobody can give a definitive date as to when the situation may change. Any dates being trotted out are pure guesswork, there is not target date for this as yet. Certainly not in 2007 in any case.

Anybody who still doubts that this market is a disaster for investors should read the article in today's Sunday Times regarding one of the larger (and not the worst by any means) operators in the Bulgarian sector.
 
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