Why is Bulgarian citizenship a kind of golden gate to the local real estate market (REM)?
The answer to this question may turn out to be the chance of your life…
At present, the Constitution of the Republic of Bulgaria and the Ownership Act explicitly prohibits foreigners and foreign legal entities from acquiring title to land on the territory of the Republic of Bulgaria. Ownership Act allows foreigners and foreign legal entities to acquire ownership of buildings and limited real rights on real estate in the country. But if you are a non-EU citizen, then the procedure is rather difficult. You will need to remove a number of permits, pay fees and taxes just because you’re a foreigner.
But if you decide to acquire Bulgarian citizenship by investment (a procedure that lasts less than 18 months), for an even faster period of time, you could recover that money from the real estate market in the country.
The Possibilities
And the possibilities are really many – from buying and selling properties to bargain prices, to letting or renting commercial and residential premises as well as agricultural land.
The real estate market in Bulgaria is developing rapidly. To make a successful purchase on that business in Bulgaria, it is enough to have at least a minimum amount of information to make a choice in favor of the primary or secondary REM.
The primary real estate market in Bulgaria
To begin with, let’s talk about to the primary real estate market in Bulgaria. It should be noted that the objects of the primary REM in Bulgaria, above all, differ in size. The smallest objects in the primary REM in Bulgaria are studio apartments, where the living room is often combined with the living room and kitchenette. Choosing an object in the primary real estate market in Bulgaria, the main thing is to determine the location. Developers offer real estate in almost all regions.
The secondary real estate market
Achievement of real estate in the secondary market in Bulgaria is not only profitable and reliable, but also an investment that is pleasant in all aspects. In Bulgaria, the secondary real estate presented extremely well. There are apartments of different price categories and “ages.” The secondary REM in Bulgaria is attractive in the first place because in case of a purchase investment risks are reduced to a minimum. The housing has already been built and no circumstances beyond your control will become an obstacle to taking full ownership of this property.
Also to the positive qualities of the secondary REM in Bulgaria is the willingness to rent out and live, infrastructure, as well as relatively low cost. It`s worth noting that the secondary real estate market in Bulgaria is heterogeneous. Apartments, even within the same price category, can vary considerably in terms of quality and technical equipment.
Tourism Industry and Real Estate Market in Bulgaria
The real estate market in Bulgaria is very attractive for many foreigners. Bulgaria is a country with a highly developed tourist industry and the acquisition of a property or a home in such an area can bring huge profits to the owner only by renting the property during the active tourist season. Bulgaria has both: excellent summer-Black Sea Coast tourism and well-known winter-ski tourism in several high mountains. Natural tourism is also well developed…
Obtaining Bulgarian (or dual) citizenship will make you a full citizen not only of Bulgaria but also of the EU. And while your newly purchased property in Bulgaria regains its investment, you will be able to travel freely throughout this time across Europe.
Your solution: VD&A
If you want everything for you to develop quickly, easily and as you please – trust one of the most respected Bulgarian law firms. VD&A has specialized in providing and settling Bulgarian citizenship by investment for foreigners. The firm also provide services for opening a new company, bank accounts and payment of taxes and fees for foreigners in Bulgaria. All the help you need for a bright and wonderful future is a call from you!
