Brexit has changed the regime and the possibility of British nationals to buy a property in Bulgaria. As per 31.12.2020, the end of the transition period, the United Kingdom will be treated as a third country outside the EU and EEA.
As of 01.01.2021, British citizens and legal entities cannot acquire ownership over land in Bulgaria. They may buy only limited rights in rem (right of use, right of construction, right of upgrading or arrangement and easement rights), as well as ownership over buildings.
British nationals may not acquire agricultural land and plots that are within the zoning of the settlements.
If British citizens and legal entities want to purchase houses with gardens, regulated plots of land or other real estate coming with ideal parts of the land, they need to set up a Bulgarian company.
Keep in mind that this option applies only for urban areas. A Bulgarian company owned by British nationals may acquire apartments, studios, offices and other commercial properties, as well as houses and the land thereto, where the latter falls within an urban area.
However, the Bulgarian Agricultural Land Ownership and Use Act provides for certain exceptions to the prohibition of buying an agricultural land by foreign citizens and legal entities. Eligible to acquire right of ownership over agricultural lands are natural or legal persons who have been resident or established in the Republic of Bulgaria for more than 5 years. As well, companies with registrations under Bulgarian law of less than 5 years may acquire right of ownership over agricultural lands if their partners and founders have resided or have been settled in Bulgaria for more than 5 years.
British nationals who already own property or land in Bulgaria will retain ownership.
For more information or if you want to buy a property in Bulgaria please do not hesitate to contact us by e-mail: firstname.lastname@example.org or call us on: +359 2 851 72 59.