Bulgarian PM Urges Calm Over Lifting Land-Sale Ban for Foreigners
Bulgarian Prime Minister, Plamen Oresharski, excluded the possibility of extending the ban on sale of agricultural land to foreigners.
The nationalist Ataka party proposed last month that Bulgaria extends its restrictions for foreigners until 2020, as current prices are uncompetitive in European terms. Parliament voted against their proposal.
The PM believes that extending the ban would be an unpractical move, since it would have to be part of a lengthy process, where all 27 EU member states would need to ratify it.
The moratorium on agricultural land sale has a 7-year length from Bulgaria's entrance in the EU, and expires after 2013.
Oresharski sees no reason for fear, that foreigners will buy out Bulgaria's land. Instead, he believes foreign investment would be something beneficial and desired.
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foreigners can already own the land - you just need to be the owner of a Bulgarian registered company, and buy it through that. anyone wanting a large piece of agricultural land to grow crops would most likely still need a Bulgarian company through which to run the business here.