Friday, 18 February 2005Bulgarian Parliament approved at third and final reading Friday the second constitutional amendment, allowing foreigners to purchase freely Bulgarian land.
A total of 230 MPs voted at the parliament's session, 225 of whom supported the changes and five voted versus them.
The voting was attended by the President Georgi Parvanov, the Prime Minister Simeon Saxe-Coburg, ministers, magistrates and diplomats.
Foreign natural and legal persons will be able to acquire Bulgarian land proprietorship at the terms and conditions deriving from the accession of Bulgaria to the EU or under an international treaty, promulgated and enforced in Bulgaria.
Because of the seven-year grace period negotiated by Bulgaria and the EU for land sale, EU citizens will actually be able to acquire Bulgarian land from 2014. The same timeline will be in force for nationals of countries outside the Union, Bulgarian MPs decided.
The amended texts are expected to enter into force by March 2005. The terms and regulations of Bulgarian land acquisition by foreigners will further be regulated under a future law on real estates proprietorship.
Experts project that the open sale of Bulgarian land to foreigners will enliven the market of tilling land in the country. |
Friday, 18 February 2005
Sofia News Agency
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