Popular investment vehicles in Bulgaria

Updated on May 2022

• Special purpose investment company (дружество със специална инвестиционна цел or АДСИЦ in Bulgaria

Corporate: Joint-stock public special purpose investment company or акционерно публично дружество със специална инвестиционн а цел (АДСИЦ) in Bulgarian)

• Exempt at company level 
• Pass-through entity subject to distribution requirements 
• Tax at investor level 
• Capital gains exempt, If the sale of company shares is made on a regulated market or as a result of a tender offer

• Real estate transfer tax between 0.1% and 3.00% depending on the location of real estate (generally calculated on the basis of the consideration (e.g. purchase price)) 
• Registration fees applicable to the registration of transfer of real estate. 
• No transfer tax in respect of the acquisition of interest in the special purpose investment company.

• Yes

• Closed-ended

• Regulated as a licensed special purpose Investment company

• No

• Pass-through tax status at company level 
• Capital gains exempt 
• Acquisition of real estate by the company, if made in accordance with the special legal requirements applicable to the company, cannot be invalidated in case of insolvency of the seller.

• Regulatory approvals, incl. of the articles of association, Board members, appointment or replacement of servicing or managing companies. 
• Minimum real estate requirement (70%) 
• Minimum capital requirement (BGN 500,000, app. equal to EUR 255,646) 
• Minimum gross income (70%) from main activity (acquisition, management and disposition of real estate) requirement

• Real estate

Disclaimer: “Information in this guide for any particular country or topic may have been subject to change since the date to which it was prepared”