Non-EU/EEA natural and legal persons may acquire forest land (wooded land) only upon local incorporation or access forestry land through short-term leases. Since 1 January 2012, pursuant to the terms of the act of accession of Bulgaria to the European Union, EU/EEA citizens and legal entities may acquire forest land (wooded land) in Bulgaria, irrespective of residency. 
"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 Three - OWNERSHIP
Section I - Ownership Rights
Article 22. Wooded areas may be owned by natural persons, legal entities, the state and municipalities. 
Article 23. (1) Political parties, as well as political organizations, movements and coalitions cannot own wooded areas.
(2) Foreign countries cannot own wooded areas.
(3) Citizens of European Union member states and of the European Economic Area countries may acquire ownership of wooded areas subject to the provisions of this Act, following expiry of the time period as defined by the Treaty on the Accession of the Republic of Bulgaria to the European Union.
(4) Legal entities of European Union member states and of the European Economic Area countries may acquire ownership of wooded areas subject to the terms and procedure as per (3) above.
(5) Foreign nationals who are citizens of third countries as well as foreign legal entities established pursuant to third-country laws may acquire ownership of wooded areas pursuant to the provisions of an international treaty ratified in accordance with the procedure as per Article 22 (2) of the Constitution of the Republic of Bulgaria, duly promulgated and in force, as well as by way of legal inheritance. [...]" (Forestry Act of the Republic of Bulgaria, SG No. 19/8.03.2011 [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
Forestry Act of the Republic of Bulgaria, SG No. 19/8.03.2011 [google translated]
[<a href="http://data.europa.eu/eli/treaty/acc_2005/pro_1/sign">Protocol</a>],[<a href=" http://www.iag.bg/data/docs/Forestry_Act.pdf">Act</a>]