European Parliament Backs Tougher Financial Registry Rules

Posted by | EU | No Comments

The European Parliament voted to set up public registers to identify company owners. Such measures are hoped to help in the fight with shell companies and trusts, which are considered harmful to European and world economy.

Under the new plan, banks and financial institutions, auditors, lawyers, accountants, notaries, trusts and real estate agents would be obliged to provide the names of the companies’ ultimate owners to national authorities, who for their part will have to put them into the registers. Read More

Bulgarian Seaside Rivals Sochi in Property Market Competitiveness

Posted by | Real Estate | No Comments

The Russian city of Sochi is losing its competitiveness for seaside property in favour of other countries like Bulgaria, due to high costs. This forecast was made in an article posted on the website of The Moscow Times, a Russian English-language newspaper.

The author claims that a property boom in Sochi after this year’s Olympics is not very likely. Starting prices at the Black Sea resort are close to USD 1,700 per square meter, whereas Bulgarian rivals can boast with half this sum. Read More