Post by TheTravelBug on Sept 14, 2011 8:19:23 GMT
Back in 2007 the Bulgarian government passed a law inline with EU directives that foreign nationals will be able to own land in their personal name. They were given a set number of years to implement this rule. It was meant to be 5, which means that come January 2012 there should be no restrictions on owning land in Bulgaria if you are no Bulgarian. However, whilst this holds in theory and there should be no further delays no one is as of yet 100% sure of what and when this will happen.
In theory once this comes in, anyone now owning a property through a company can dissolve that company. To do this you will need to sell any assets the company owns - you could transfer them to your private name.
The costs will need to be taken into account to see whether worthwhile - around 500E to dissolve company, plus legal fees and notary taxes for each transfer.....versus maybe 70 to 100 Euros a year accountancy fees.
I am considering this route so will keep the forum topic updated.
In theory once this comes in, anyone now owning a property through a company can dissolve that company. To do this you will need to sell any assets the company owns - you could transfer them to your private name.
The costs will need to be taken into account to see whether worthwhile - around 500E to dissolve company, plus legal fees and notary taxes for each transfer.....versus maybe 70 to 100 Euros a year accountancy fees.
I am considering this route so will keep the forum topic updated.