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Tuesday, March 15, 2005

Change in Land Law expected

As is stand person not resident in Bulgaria need to set up a company before being able to buy property in Bulgaria. Although its not a difficult or expensive thing to do, it's a bit of a headache and extra piece of paperwork that everybody could do without. Change, however, may be on the horizon. Bulgaria is yet again making efforts to remove the ban on land being sold directly to foreigners, all in the interest of attracting foreign investment! The parlimentary commission on the amendments to the Bulgarian Constitution decided to recommend that the ban be removed from the constitution. Good news for foreign investors! A vote is expected in April so fingers crossed!

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