Posted on Tue 18th April 2017 12.56PM Notarial
Many people who have bought second homes in Bulgaria have done so through a company. New company rules are going to make the process considerably more complicated. Already, companies have to show that they have passed a directors' resolution or buy or sell property. Now, that resolution can only be accepted if it is duly notarised in Bulgaria by a Bulgarian notary.
This will cause huge practical problems as every director will have to be present before the Notary to pass the resolution. Where the resolution is about appointing a director the shareholders will all have to be present.
What is the answer? The company will have to appoint a proxy or Attorney to act for all the directors or shareholders in Bulgaria. Fortunately this can be done in England. The document will have to be bilingual in English and Bulgarian but provided it is executed in accordance with English rules and notarised it will enable the company to buy or sell a Bulgarian property.
I can arrange for notarisation of such documents and I have access to a Bulgarian speaker who can verify the translation of any document before it is signed.