What Investments?
Land is the most easily maintained type of property, and purchasable in low price lots. Land supply is limited, and in many places there is encouragement for permission to develop. This can provide for capital growth either by natural process of widening demand, or by converting agricultural land to residential or commercial use for development. .

New holiday apartments and villas are frequently sold “off-plan”, at a discount. Significant capital growth can derive from the immediate discount, and from a general rise in property values. They can also provide rental income when completed, and of course, a holiday location for the investor when not let. They do require some maintenance, and management of the common parts.

Existing houses & villas can be bought, sometimes in spectacularly scenic locations, at low prices (compared to UK). They may require up grading, and in any event, will require maintenance. Finding such properties requires care, and although the buyer may have to be ready to refurbish, workmen are generally skilled, reliable, and affordable. These investments can yield rental income and capital growth, less purchase and maintenance costs.

Development schemes: developments, in need of joint venture capital, can provide greater returns than more ordinary property investments. Advice from local consultants with expertise in development projects is strongly advised.

How to Invest?
In general, land can only be owned by a Bulgarian registered company, which in turn can be wholly owned by a foreign investor, or by a Bulgarian national. Buildings can be owned by a foreigner.

Therefore, a UK investor would either set up his own company to own land, or invest in a Bulgarian company that holds the land. In time, convergence with EU will liberalise these laws, enabling a foreigner to buy directly: moves have stared to alter the Constitution accordingly.

If an investor wishes to live in Bulgaria permanently, further rules apply.

Once a property opportunity is identified, the investor has a choice of routes:

• to proceed individually. Some agents are experienced in property transactions to UK investors, and will arrange everything for the buyer. An investor can appoint his own lawyer, transfer funds and check details himself, if wishing to do so; or
• to be guided by BPI Co at all stages of a transaction, relying upon our lawyer and consultants; or
• to invest in a BPI managed fund.

A BPI Co managed fund would buy and sell the assets to provide a targeted return for investors.