Bulgarian Land Sale Gets Parliamentary Nod

Sofia News Agency, www.novinite.com
Kuzmanov Legal Services in Bulgaria

The constitutional amendments envisioning lift of the ban on Bulgarian land sale to foreigners have passed with considerable majority of votes at first reading in Parliament on Wednesday. With 211 lawmakers voting in support, the crucial bill saw no abstentions and only two opposing votes of independent MPs. The most disputable article to be amended in Bulgarian constitution provides for the acquisition of land by "foreign natural and legal persons at the terms and conditions deriving from the accession of Bulgaria to the EU or under an international treaty, promulgated and enforced in Bulgaria, as well as by inheritance." Leftist lawmakers argued that this provision would put into a disadvantageous position EU member states to other countries, for example Yemen and Iran, as the nationals of the latter would be able to buy Bulgarian land under existing bilateral treaties, while EU citizens would have access only after 2014 when the gratis period elapses. The terms and regulations of Bulgarian land acquisition by foreigners will be regulated by a future-to-be law on real estates proprietorship, Deputy Parliament Speaker Kamelia Kasabova said to calm down worries of the opposition. The sale of land to foreigners will certainly enliven the market of tilling land in the country, according to right-wing MP Valentin Vassilev. He bid on the legislative capacity of the parliament to avoid the risk of "Bulgarian land export". The amended texts are expected to enter into force by March 2005, when Bulgaria hopes to get fixed a date for signing the accession treaty and join the wealthy bloc of 25 in January 1, 2007.

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