Limitations to Foreigners
1. Are there in your national system any limitations to foreigner citizens or foreign companies/companies controlled by foreign citizens regarding the acquisition of immovable properties? If yes:
Yes, in the current Bulgarian legislation there are restrictions on the acquisition of real estate by foreign citizens.
1.1. Which legal regulations regulate in your country the prohibitions or limitations for foreigners’ acquisitions in case of transfer of property? Please specify the legal regulation and/or the range of the regulation that contains the prohibition.
1.2. What do these limitations consist of?
1.3. Do these limitations apply to any foreign citizen, regardless their nationality, or only to non-EU Members national citizens?
1.4. Do these limitations have?
- A defensive/protective purpose.
- An economic purposeBoth economic and defensive/protective purposes.
- Other purposes (please specify).
2. To which kind of land registry unit do these limitations apply? (Example: only land plots, only rural areas, only foreign borders, dwellings and homes, other buildings?
3. To which kind of transfers or burdens do these limitations apply? (Example: to every transfer, non-free transfers, differently in case of inheritance than in case of purchase, mortgages in favor of foreigners….)
4. Apart from the previous limitation to acquisition of property by foreigners, are there any other measures at your country relevant for this topic? (Example: pre-emption rights in case of purchase un favor of a foreigner, social or residential measures bases on nationality and non in residential permits….)
5. To what extent the land registrars’ controls in a deed of transfer the prohibitions imposed to foreigners to acquire land and buildings in your country?
5.1. Do you only check if the transfer administrative authorization requirement is met, or do you also confirm that the authorization is valid? For example, do you consider property type, like rural or forestry classification, which might limit foreign transfers? Or do you verify the percentage of foreign land ownership in a specific area, especially if there are restrictions on the number of buyers or land size?
5.2. What would happen if an authorization were needed, and it does not come with the title submitted for registration?
5.3. What would happen in case a deed of inheritance in favor of a foreigner transfers property over land or buildings subject to limitations for foreigners’ acquisitions in your country?
5.4. If the states have preemption right in case of transfer, would you reject the registration if no notification to the state to enhanced it right is done?
6. Do you expect any legal modifications on this issue?
