Agricultural land: Acquisition of agricultural land by foreign companies requires a mandatory 5-year establishment in Bulgaria. In addition, it is restricted to joint-stock companies with no bearer shares, whose shareholders are: Nationals from EU/EEA countries; or Foreign legal entities established in the EU/EEA; or Natural and legal persons from third countries with whom Bulgaria has concluded an international treaty containing provisions on the acquisition of agricultural land; provided they are not, either directly or indirectly, legal entities registered in jurisdictions with preferential tax regimes. 
"3.   FREE MOVEMENT OF CAPITAL
Treaty establishing a Constitution for Europe [...]
2. Notwithstanding the obligations under the Treaty establishing a Constitution for Europe, Bulgaria may maintain in force for seven years from the date of accession the restrictions laid down in its legislation, existing at the time of signature of the Treaty of Accession, on the acquisition of agricultural land, forests and forestry land by nationals of another Member State, by nationals of the States which are a party to the European Economic Area Agreement and by legal persons formed in accordance with the laws of another Member State or an EEAA State. In no instance may a national of a Member State be treated less favourably in respect of the acquisition of agricultural land, forests and forestry land than at the date of signature of the Accession Treaty or be treated in a more restrictive way than a national of a third country. [...]" (PROTOCOL Concerning the conditions and arrangements for admission of the republic of Bulgaria and Romania to the European Union, Official Journal of the European Union, L 157/29, 21.6.2005)
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"Chapter One - GENERAL PROVISIONS [...]
Art. 3. (1) Agricultural lands may be owned by citizens, the state, municipalities and legal entities.
(2) Political parties and organizations, movements and coalitions for political purposes shall not be entitled to ownership of agricultural land.
(3) Foreign countries cannot own land on agricultural land.
(4) Foreigners or foreign legal entities may acquire ownership of agricultural land under the terms of an international treaty ratified in accordance with Art. . 22, para. 2 of the Constitution of the Republic of Bulgaria, promulgated and came into force, and foreigners - in the case of inheritance by law.
(5) Citizens of the Member States of the European Union and of the States Parties to the Agreement on the European Economic Area may acquire ownership of agricultural land under the terms of this Agreement. [after the expiry of the term specified in the Treaty of Accession of the Republic of Bulgaria to the European Union].
(6) Legal entities of the Member States of the European Union or of the States Parties to the Agreement on the European Economic Area may acquire ownership of agricultural land by virtue of para. 5.
(7) The following may not acquire and possess ownership of agricultural land:
1. commercial companies in which the partners or shareholders are directly or indirectly companies incorporated in preferential tax jurisdictions;
2. commercial companies in which partners or shareholders are foreigners, outside the natural persons under para. 4 and 5, or foreign legal entities, other than those under para. 4 and 6, as well as sole proprietorships incorporated by such natural or legal persons;
3. joint-stock companies that have issued bearer shares.
(8) Foreign legal entities and foreign nationals may acquire the right to use agricultural land or other limited real rights over land under conditions and in accordance with the procedure established by law. [...]" (LAW ON THE OWNERSHIP AND USE OF AGRICULTURAL LANDS, SG No. 17/01.03.1991 [google translated])
PROTOCOL Concerning the conditions and arrangements for admission of the republic of Bulgaria and Romania to the European Union, Official Journal of the European Union, L 157/29, 21.6.2005
LAW ON THE OWNERSHIP AND USE OF AGRICULTURAL LANDS, SG No. 17/01.03.1991 [google translated]
[<a href="http://data.europa.eu/eli/treaty/acc_2005/pro_1/sign">Protocol</a>],[<a href="https://www.mzh.government.bg/media/filer_public/2019/08/26/zspzz.docx">Law</a>]