One of the most popular enquiries after Brexit is how expats and people who own property in Bulgaria will be affected.
Approximately 1.3 million UK citizens reside throughout Europe, with many selecting Bulgaria for secondary residences or holiday properties in Black Sea resort areas. The UK embassy reported around 7,000 British citizens permanently residing in Bulgaria as of March 2016.
In Bulgaria, non-EU citizens may purchase built property under the same conditions as EU nationals. However, non-EU citizens cannot acquire land independently. British nationals seeking to buy country homes with land would need to establish a Bulgarian company to purchase property through that entity. The situation remains unclear for thousands of UK citizens who already own individual countryside properties.
The ability to move freely within EU member states influenced many UK property purchases in Bulgaria. A hard Brexit scenario could result in visa requirements for British citizens, negatively impacting the property market. Notably, UK investments in Bulgarian properties began before Bulgaria’s EU accession.
UK citizens may apply now for a permanent residency permit, which will grant them almost equal rights to Bulgarians. Additionally, Bulgarian Prime Minister Boyko Borissov indicated that post-Brexit, UK citizens in Bulgaria could apply for Bulgarian citizenship.