Law Changes Allow Foreigners to Buy Agricultural land
14.03.2007The amendments to the Ownership and Use of Farm Land Act are expected to open a market for tens of thousands of hectares of fields. The amendments to the Ownership and Use of Farm Land Act are expected to open a market for tens of thousands of hectares of fields. The changes allow agricultural producers from the EU to acquire ownership of arable land and forests, provided that they have been entered in the BULSTAT register and have become permanent residents of Bulgaria. According to real estate brokers, there has always been interest in Bulgarian farm land on the part of foreigners but the legal amendments now will untie their hands to invest in agriculture, Sega newspaper reports.
