Sunday, January 21, 2024

"EU court lifts restrictions on buying agricultural land in Bulgaria"

 From EurActiv, January 18:

The EU Court of Justice lifted the restrictions EU citizens face when buying agricultural land in Bulgaria in a ruling published on Thursday, more than 17 years after the country joined the bloc.

Obstacles should have already been removed in 2014. Still, the Bulgarian parliament adopted changes to the Law on the Ownership and Use of Agricultural Lands, which created serious obstacles for EU citizens even though this went against the EU treaty law.

Particularly problematic for the EU court was the Bulgarian law, which provides that people who have resided in Bulgaria for over five years can acquire ownership rights to agricultural land, though this rule did not apply only to agricultural land....

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Bulgaria is also going to enter the Schengen Zone this year which should be good for a decent bump to GDP.