Franco-Bulgarian notarial colloquium 2016

Franco-Bulgarian notarial colloquium 2016

On December 1, 2016, the High Council of French Notaries and the Regional Council of Notaries under the jurisdiction of the Court of Appeal of Versailles organized with the Chamber of Notaries of Bulgaria the annual French-Bulgarian notarial colloquium.

The first part of the colloquium was devoted to legislative and professional news in France and Bulgaria, the second to the role of the notary in the investments in both countries.

In both countries, the notary plays a central role in all real estate transactions. The Bulgarian notariat was very interested in presenting the databases of the profession because it has no equivalent in it. In France, notaries have references of 16 million sales of buildings and land.

Notaries debated cross-border borrowing in Europe. A borrowing quite possible but more and more framed because of the multiplication of European and national anti-money laundering laws. It is in the application of the latter that notaries of the two countries carefully examine multiple and successive acquisitions, atypical or unnecessarily complex arrangements, financing from several countries for a single acquisition, are interested in people who come to them, etc.

In Bulgaria, the practice of registers appears to be more extensive than in France. Before granting a loan, the Bulgarian bank consults the centralized credit register. To verify the identity of the persons present, the Bulgarian notary consults the register of identity documents.

In the summer of 2015, there were 624 notaries in Bulgaria, distributed in 518 studies. The Bulgarian and French notariats have been bound by a cooperation agreement since April 2007.