Bulgaria certainly represents a still undiscovered and not yet worked up real estate market aimed at investment, and in this respect it offers large possibilities for great profit and high annual rents for those who decide to invest at present.
Bulgaria possesses some unique features:
Bulgaria is a parliamentary republic. The Parliament is the supreme legislative body, seated in Sofia. It passes legal acts and ratifies international agreements. The Council of Ministers presides over the executive power on a national level. The regional governors and the mayors represent the executive power and carry out the governmental policy through a respective administration on a local level. The President is head of the state exerting specified representative functions and symbolizing the unity of the nation.
Bulgaria is governed through a legal system established by the laws. The legal system is based on models adapted from all over Europe, particularly from the civil legal systems of France, Germany, Italy, Belgium. After World War II and the invasion of Soviet troops in the country, the legal system introduced in the country was influenced by the Soviet Union. In spite of that, most of the principles of the civil legal system were not abolished. After the occurred democratic changes in the country in 1989 a larger part of the legislation based on the Soviet Union system were abrogated and replaced by legal norms influenced by the EU legislation. The harmonizing of the Bulgarian legal system with the European Union one is still underway. The Bulgarian juridical system consists of three instances. The District Court, the Regional Court, the Court of Appeal, the Supreme Court of Cassation and the Supreme Administrative Court are functioning within their structure.
All persons willing to perform economic activity in Bulgaria must state official registration in the respective trade register with the Regional Court according to the location of their main office.