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	<title>LM Legal Services Blog</title>
	<link>http://lmlegalservices.com/blog</link>
	<description>Advice when you need it most</description>
	<lastBuildDate>Mon, 06 Feb 2012 13:59:36 +0000</lastBuildDate>
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	<item>
		<title>BULGARIAN ECONOMY &#8211; FORECASTS FOR 2012</title>
		<description><![CDATA[According to the report of the Center for Economic Development the annual inflation in Bulgaria for 2011 was 2.8%. The predictions for 2012 are that the inflation will be between 2,5% and 3%. The unemployment for 2011 was on the average of 10,2% and for 2012 the expectations are that it will reach 10,5%. It [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/843</link>
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		<title>PROPERTY PRICES IN BULGARIA &#8211; FORECAST</title>
		<description><![CDATA[The expectations of analysts are that the property prices in Bulgaria will continue to drop on average by 5%. The top prices fetch luxury properties in Varna on the Black Sea, where they sell on average for 1500 levs (760 Euros) per square metre, while the properties in the capital Sofia are in the second [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/841</link>
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		<title>BULGARIA-EU – NO CONCESSIONS</title>
		<description><![CDATA[After his first visit to Brussels, the Bulgarian President Rossen Plevneliev said that there has not been a positive response to the demand made by the Bulgarian Prime Minister Boiko Borissov the EU to increase its financial share in infrastructure projects in Bulgaria. Currently Bulgaria pays 20% and the EU 80%. During his meeting with [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/839</link>
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		<title>BULGARIAN STATE BONDS</title>
		<description><![CDATA[The Bulgarian Ministry of Finance has issued state bonds to the value of 35 million levs (18 million Euros) with maturity date in seven years time and a coupon of 4.45%, which shows increasing trust of the investors. The bonds were bought by banks (about 36%), pension funds (48%) and insurance companies (13%). The coupon [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/837</link>
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		<title>THE DRAFT AMENDMENTS TO THE LAW FOR THE FORESTS</title>
		<description><![CDATA[The Bulgarian government has approved the draft amendments to the Law for the Forests and has sent them to the parliament for voting. According to the draft amendments more than 100 state owned companies that look after the forests will be allowed to cut and sell timber. Until now only private companies have been doing [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/835</link>
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		<title>SOFIA – PAYMENT OF PROPERTY TAX</title>
		<description><![CDATA[This year the citizens of Sofia and the companies based in the Bulgarian capital must think twice before deciding to delay payment of their property tax. Sofia Municipality has focused on collecting debt from individual tax payers whose unpaid property tax exceeds 1000 levs and from companies owing more than 50 000 levs. Until now [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/833</link>
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		<title>SOFIA &#8211; REVIEW OF PRICES OF LUXURY PROPERTIES</title>
		<description><![CDATA[The prices of large properties in Sofia have dropped sharply. Only in the area of Oborishte where the most expensive properties in the capital are located, prices have increased by 4% and start at 923 Euros/sq.m. , reaching 4331 Euros/sq.m. At the same time in the affluent area of Lozenets the property prices have dropped [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/831</link>
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		<title>FOREIGNERS BUYING LAND IN BULGARIA 2012</title>
		<description><![CDATA[After its accession into the EU in 2007 Bulgaria had the right to keep in force its existing laws concerning the purchase of a second property by citizens of EU member states and citizens of states signatories to the European Economic Area Agreement (EEAA) for five years. This term has practically expired on 1 January [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/829</link>
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		<title>SOFIA – PROPERTY RANKING</title>
		<description><![CDATA[The Daily Telegraph has published the ranking of The Global Property Guide Europe’s Top Places to Invest in Property. The Bulgarian capital Sofia took 17-th place overtaking Prague (18), Paris (20), Lisbon (22) and London (26). According to The Global Property Guide, the positive feature of Sofia is the pro-landlord rental market. The negative feature [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/827</link>
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		<title>BULGARIA &#8211; REGIONAL DIFFERENCES</title>
		<description><![CDATA[The differences in the standard of living among the regions in Bulgaria continue to grow despite the European funding. The poorest regions – the North-Western and the Northern Central ones – continue to lag behind the rest of the country. At the same time Sofia receives the largest share of the European funding per capita [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/825</link>
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		<title>BULGARIAN PROPERTY MARKET &#8211; 2012</title>
		<description><![CDATA[&#160; Analysts expect that 2012 will be again the year of the buyers. Most buyers will be first-timers. The hope is that those who have savings or free money will be bold enough to spend them on properties because of the attractive prices. The property prices in Bulgaria will continue to fall in 2012, however [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/823</link>
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		<title>BULGARIAN ECONOMY – FORECAST</title>
		<description><![CDATA[The Bulgarian Economy will grow of only 1.5% in 2011, according to analysts. Earlier forecasts predicted a growth of 2.6%. However, the expectations are for a decrease of the export and a negative impact on the labour market. The slowing down of the growth of Bulgaria’s GDP is due to the negative perspectives for the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/820</link>
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		<title>COMMERCIAL PROPERTY MARKET IN BULGARIA – 2012</title>
		<description><![CDATA[According to the analysts, there are three tendencies concerning the commercial property market in Bulgarian in 2012. The first one is that the number of buil-to-suit industrial centres has increased due to the increased volume of outsourcing of light industrial production from Western Europe into Bulgaria. Bulgaria is attractive with low taxation and low cost [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/818</link>
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		<title>BULGARIAN ECONOMY</title>
		<description><![CDATA[The Bulgarian National Statistics Institute has announced that from July to September 2011 the Bulgarian GDP has increased BY 0.3% in comparison with the previous quarter of 2011. In comparison with the same period of 2010, the growth is by 1.6%. Nevertheless, the Bulgarian economy is slowing down. In the first quarter of 2011 the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/811</link>
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		<title>AGRICULTURAL LAND</title>
		<description><![CDATA[In 2011 the market of agricultural land in Bulgaria went back to the levels before the recession. 1 200 000 dka of land have been sold and only in July 124 000 sales took place. In 2008, which was the best year before the recession, in 122 000 deals were sold 1 240 000 dka of land. The average price of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/815</link>
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		<title>LENDING IN BULGARIA</title>
		<description><![CDATA[Due to the debt crisis in the Eurozone, the demand for mortgages in Bulgaria has shrunk. The size of the average mortgage has decreased in October 2011 in comparison with September 2011 according to the Bulgarian National Bank. The number of the repaid mortgages has exceeded the number of the new mortgages. This is the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/807</link>
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		<title>PROPERTY SALES AND RENT IN BULGARIA &#8211; STATISTICS</title>
		<description><![CDATA[According to the property analysts 40% of the property buyers in Bulgaria are prepared to pay between 50 and 80 000 Euros for their purchase. They are the largest group of property buyers in the country. In the second place (23%) are the buyers ready to pay between 80 000 and 120 000 Euros and [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/805</link>
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		<title>Victory in Bulgaria for ski flat Britons: Inventors win back keys to their property</title>
		<description><![CDATA[The Mail On Sunday, 20 November 2011 A group of Britons who faced arrest and threats of violence during a two-year dispute over the ownership of flats they had bought in a Bulgarian ski resort have finally won their case. The 70 investors have gained access to the apartment block in the former Communist state [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/803</link>
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		<title>BULGARIAN ECONOMY</title>
		<description><![CDATA[The Bulgarian parliament passed the Bugdet 2012. According to the budget the growth of the Bulgarian economy in 2012 will be 2.9%. However, according to the National Statistics Institute the Bulgarian econcomy has slowed down in the last quarter of 2012. The Bulgarian GDP has not changed in the period July &#8211; September 2011 and [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/801</link>
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		<title>BANKRUPTCY IN BULGARIA</title>
		<description><![CDATA[According to the forecasts of analysts about 350 Bulgarian company will go bankrupt in 2011. In comparison with 2010,this is an increase by 100%. The number of unpaid invoices have increased by 20%. In just a year the period of the delay in the payment of invoices have increased from 78 days to 105 days. [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/799</link>
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		<title>SUBSIDIES FOR AGRICULTURE</title>
		<description><![CDATA[The Bulgarian Ministry of Agriculture will start selling the state owned land in order to pay the direct European subsidies promised to the farmers for 2012, according to the Bulgarian Minister of Agriculture Miroslav Naydenov. Subsidies to the value of 570 million levs (apprx. 235 million Euros) were promised to the Bulgarian farmers but in [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/797</link>
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		<title>PRIVATISATION IN BULGARIA &#8211; FORECAST</title>
		<description><![CDATA[According to the budget forecast of the Bulgarian government for 2012, the incomes from privatization will be about 300 million levs (approximately 150 million Euros). This is a serious decrease in comparison with the forecasts for 2011 for 450 million levs (approximately 225 million Euros). At the moment only half of the expected income for [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/795</link>
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		<title>EC: VAT WARNING FOR BULGARIA</title>
		<description><![CDATA[The European Commission officially asked Bulgaria to amend its rules for claiming V.A.T., as they discriminate against tax payers who operate within the EU. If Bulgaria fails to amend them, the E.C. will inform the Court of the European Union. In Bulgaria in case of audit, V.A.T is paid back only after the completion of [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/793</link>
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		<title>PROPERTY PRICES DROP</title>
		<description><![CDATA[In comparison with the second quarter of 2011 the property prices in Bulgaria have dropped by 0,8% according to the National Statistics Institute., mostly in 20 regional towns. The highest decrease was in Smolyan – by 4,7%, followed by Yambol – 4,25 and Pleven by 3.7%. The average property price for the country in the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/791</link>
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		<title>GROWTH OF THE PROPERTY SALES</title>
		<description><![CDATA[The number of property sales in Bulgaria has increased for a third consecutive quarter in comparison with last year – 54 997 sales in comparison to 46 968 sales in the same quarter of 2010. The total number of the property sales in 2011 so far is 157 273, while in the whole of 2010 [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/788</link>
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		<title>BULGARIA &#8211; FINANCIAL STABILITY AND SLOWING DOWN</title>
		<description><![CDATA[A Greek bank group has predicted that the Bulgarian economy will slow down due to the debt crisis in the Euro zone and the negative prospects for the recovery of the European and the US economies. The Eurobank EFG Group announced that in 2011 the growth of the Bulgarian GDP will be 3,5%. In their [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/785</link>
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		<title>PERSONAL TAX AMENDMENTS</title>
		<description><![CDATA[The Bulgarian Finance Ministry has prepared drafts of the amendments to the Law for the Personal Taxation. According to them, the taxes will be calculated only in levs, not in stotinki and employees who have two jobs and two employment contracts will not need to fill in tax return declarations. According to the new amendments, [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/779</link>
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		<title>PUBLIC AND PRIVATE</title>
		<description><![CDATA[The creation of the Law for the Public-Private Partnership has been prolonged more than the creation of any other Bulgarian law. On the one side there is no urgent need for this law, as most of the activities in its scope have been covered by other laws. On the other hand the Law for the [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/770</link>
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		<title>BULGARIA ONLINE PROPERTIES &#8211; No1 IN RUSSIA</title>
		<description><![CDATA[The internet statistics of Yandex, the Russian equivalent of Google, show that the Russians used the phrase “property in Bulgaria” in their online searches and Bulgaria was topping the list of their searches of properties abroad.  This is not surprising as the Russians have bought more than 200 000 properties in Bulgaria in the last four [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/776</link>
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		<title>PROPERTY PRICES DROP</title>
		<description><![CDATA[The prices of apartments in Sofia have decreased by 1/3 since 2008 due to the recession. If four years ago a one-bedroom apartment in the Bulgarian capital could sell for 78 302 Euros on average, at the moment it sells for 54 073 Euros. Only in the last year the prices have dropped by 9,78% . However, [...]]]></description>
		<link>http://lmlegalservices.com/blog/archives/774</link>
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