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EU Member States to Seize Property, Money in Bulgaria

Date: 02.12.2009

Court rulings in European Union member states for seizing property and money will be valid in Bulgaria under legal amendments, tabled in parliament. The district courts will uphold the rulings of foreign courts, while the National Revenues Agency will implement them, the bill envisages.

It introduces a minimum threshold of EUR 70 for the financial sanction, which has to be implemented here.

The law will make it possible for Bulgaria to execute confiscation of property, owned by a EU national in the country, after he has been sentenced for drugs trafficking, for instance, in his home country.

The money will go to the state budget, should the confiscated sum amount to less than EUR 10 000. In the other cases half of the sum will be transferred to the country, which has ordered the confiscation.

Should the confiscation concern property, it will be sold and the same rule will be applied.

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