The Investor may apply for Bulgarian citizenship by investment if he holds the permanent residence and maintains the investment for five years. A Type D visa is a long-term visa that allows its holders to enter the Republic of Bulgaria multiple times. Permanent residence gives the same rights as BG citizens, except voting. There is no physical residence requirements or fluency in Bulgarian language as required by the general naturalization rules. On July 18th, 2019, following a meeting of Moldova’s Supreme Security Council in Chișinău , President Igor Dodon informed that the government had suspended the country’s recently opened citizenship by investment program pending a review. All terms are indicative and depend on state authorities. Permanent Residence Permit: In addition to the aforementioned investment, an alien may apply for a permanent residence permit if they have been legally and continuously resident in Bulgaria for 5 years and have not been absent for a cumulative period of more than 30 months. The investment is fully guaranteed by the government bonds. To be eligible to apply the applicant must make a full investment option of at least BGN 1,000,000 (€512,000). 5. Family reunification process can be started. €500,000-48%. We would like to remind our readers that normally (without investment) foreigner must first obtain temporary residence permit in Bulgaria, then renew it annually, and only after 5 years or residence is entitled to apply for permanent residency. They are usually seen as a low-risk safe investment. Bulgarian legislation considers cohabiting couples as a family. Your Bulgarian residence permit will be valid for 6 or 12 months. Non-nationals who are interested in obtaining a Bulgarian residence permit must apply for a long-term D-visa at a Bulgarian embassy or general consulate. The migration of foreign investors is acceptable and permanently encouraged by the Bulgarian country. An immigrant can obtain a permanent residence permit in Bulgaria after legal and continuous residence for a period of five years. The Bulgarian residence permit and Bulgarian ID card are a precondition for family reunification for your non-EU family members to Bulgaria and the European Union. 5. Work permit and residence for seconded employees. The applicant needs to visit Bulgaria to apply for permanent residence with the local Migration Office. Holders of a Bulgarian D visa and residence permit can reside legally in Croatia, Cyprus, Romania and Serbia for 90 days in any 180 days period visa free. By choosing I Accept below, you consent to our use of cookies and other tracking technologies. 3. Our clients qualify for Permanent Residency via the Foreigners in the Republic of Bulgaria Act, Article 25 which was passed in August 2009 and ratified by the EU. €512,000 EUR. – Investing in economically deprived regions following the Act for support of investments, via depositing at least 250 000 Lev in the raising capital of a local company, where we can perform all necessary legal activities and registrations in the Companies House. It is also possible to apply for a 6-month period. The requirements for those who opt for the regular program are as follows: 1. In exchange for a safe, state-guaranteed and fully refundable investment of 512,000 EUR, applicants from all nationalities can obtain permanent residence with only a single visit to Bulgaria. The fees for non EU students: application fee- 10 leva (5 Euro), Residence permit for12 months- 500 leva (250 Euro), ID Card: 45 leva (22,5 Euro); Art.40 of the Bulgarian Law on the Foreigners clearly stipulates the hypotheses when the residence permit will be revoked (after a divorce). Full assistance will be provided to obtain the status of cohabiting couple. In exchange for a safe, state-guaranteed and fully refundable investment of 512,000 EUR, applicants from all nationalities can obtain permanent residence with only a single visit to Bulgaria. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. From 50 000 EUR. Portugal. – Investment of 6 000 000 Lev in the raising capital of a local company which does not participate on the regulated stock market. The Bulgarian government bonds are 100% secure financial instruments with absolute liquidity. The purchase of Bulgarian Government Bonds is the best option for candidates with funds available for such volume of investment. Bulgaria has an investor citizenship program which came into force in 2009, for foreign investors who invest significant amount of money in the economy of Bulgaria. Applicants, who are already visa D holders and intend to take part in research with Bulgarian-based company (e.g. Before applying for a Residence Permit, it is necessary to open a Bulgarian bank account and get a letter from that bank stating that you have an active bank account. You will be called to have your picture taken. “Prolonged residence permit may be obtained by foreigners who hold a visa under Art.15, par.1 and wish to carry out non-profit activity after permission from the Ministry of Justice” – Art.24, par.1, p.16 of the Bulgarian Law for the foreigners. The investment is fully guaranteed by the government bonds. 6-Month Type D Visa European But Not EU Member States’ Residency by Investment Programs Permanent residence permit Permanent residence permits are issued by the Bulgarian Ministry of Interior. Permanent Residence in Bulgaria Permanent Residence by Investment in Government Bonds. The fees for non EU students: application fee- 10 leva (5 Euro), Residence permit for12 months- 500 leva (250 Euro), ID Card: 45 leva (22,5 Euro); It is a status that allows for unrestricted travel within the territory of the European Union. Bulgaria is a member of the European Union. As part of our legal activities includes legal representation for real estate investors, we can perform all legal checks and purchasing of real estate in Bulgaria. *The above information does not represent legal advice. Permanent residence gives the same rights as BG citizens, except voting. The process of issuance of the residency card takes 3 week days. This can be accomplished through different types of investment options including real estate, government bonds, establishing a business, development programs, etc. The investor may apply for Bulgarian citizenship & passport at the nearest Bulgarian embassy or general consulate; Hold additional investment for a period of two years after citizenship is granted. Once the Principal Applicant’s process is completed, the family’s processing begins and lasts for a period of 6-8 months. Different types of residence permit are issued according to your status, including: pensioner, employee and; freelance professional. Full assistance will be provided to obtain the status of cohabiting couple. Spouses and children of the applicant are eligible to acquire permanent residence. To further boost the country’s economic growth, the Bulgarian Parliament passed in 2009 number of amendments in the Bulgarian Citizenship, Foreigners in Bulgaria and Investment Promotion laws, which enabled Non-European citizens and their families, who invest in Bulgaria, to apply for permanent residency and citizenship in a much simplified and shortened procedure. Its role is only to direct to some and few of the points related to the concrete legal procedures, and should not be accepted as enough and/or applicable to any particular case. Real estate investment - the most efficient and transparent way to obtain a residence permit in Slovenia. The temporary residence is issued within 3 to months only. As of September 2018, almost 200 people applied to obtain Bulgarian citizenship on the basis of an investment. At the end of the five-year period, the full amount of BGN 1 million (€511,292) will be returned to the investor without any accrued interest. After this, candidates immediately become eligible to apply for Bulgarian citizenship. The government bond portfolio is for an investment period of at least five years. Permanent residence permits are issued by the Bulgarian Ministry of Interior. There are a number of documents that have to be prepared and legalized including, but not limited to, criminal record certificate, marriage license, proof of funds, etc. You should also have at least the equivalent of one month’s minimum wage 235.20 EUR per month (Jul 2017) in the account. This entitles the person to the same rights as a Bulgarian citizen, except the right to vote. Bond investors in the Bulgarian residency programme can apply for Bulgarian citizenship after 5 years. – Investment of at least 600 000 Lev in a real estate in Bulgaria, or investment in 50% of the capital of local corporate entity for acquiring ownership rights on real estates for the above value. The country has produced streamlined legislation to create an efficient process by which non-EU residents may obtain a residence permit - and citizenship if so desired - based on investment. There’s also a permit category for those investing in Bulgaria, but as the minimum investment is US$500,000, it won’t suit everyone! The applicant applies in person for the Permanent Residence Permit (PRP), and then obtains a Bulgarian ID card 1 year from Permanent Residence Permit grant The applicant makes a second investment and receives a second Investment Certificate powers of attorney, to enable the proxy to represent the Investor before the various Bulgarian authorities during the application process – to conclude an agreement with Investment Intermediary in Bulgaria, to open an account on the name of Investor and to make the investment (i.e. Residence permits in Bulgaria A. Currently, Bulgarian residence permit grants visa-free travel to Romania, Cyprus and Croatia. The European Commission has sent a letter to Bulgaria expressing its concerns about the acquiring of citizenship by investment regime.. Brussels wants further details from Sofia. This makes it an attractive option for someone looking to add an EU residence and an eventual passport to their portfolio without any cumbersome language or … Applicants are not required to be in Bulgaria during the whole process. The Govt bonds portfolio is a secure investment and is guaranteed by the Bulgarian govt and is returned without any interest after 2 years. The Bulgarian permanent residency program allows the applicant to live in Bulgaria as long as desired. A temporary residence certificate is issued and the long term residence card is issued within three months. The Foreign citizen has been issued a work permit by the Bulgarian Employment Agency, and; The Foreign citizen conducts business activities in Bulgaria, provided that the Foreign citizen has employed at least 10 Bulgarian nationals, etc. Bulgaria offers permanent residency through investment of €511,292 (BGN 1 million) in government bonds. Their views on the Bulgarian program differ widely. We can organize and perform all legal activities and registrations in the Companies House. Unrestricted right to live, work and study in Europe, We use cookies and other tracking technologies to improve your browsing experience on our site, sometimes show personalized content, analyze site traffic, and understand where our audience is coming from. If the holder is absent from EU territory for more than 12 months, permanent residence received on the basis of Bulgarian origin or investment may be revoked. was adopted by Bulgarian citizens; has a formal permanent residence permit received up to 18 years. The Bulgarian permanent residency program allows applicants to live in Bulgaria as long as desired. You can then keep renewing it for up-to 5 years. There’s also a permit category for those investing in Bulgaria, but as the minimum investment is US$500,000, it won’t suit everyone! Bulgarian citizens may travel visa-free to 169 countries worldwide, including Schengen countries, Canada and Australia. The applicant must apply for a permanent residence permit and ID card in Bulgaria. It is also possible to apply for a 6-month period. The investment is certified as qualifying by the Ministry of Economy (MoE) 30 days upon submitting the application. Permanent Residence Permit via Investment in Bulgarian Government Bonds. 11, para. Be over 18 years old. Though, they will not be granted citizenship at the same time as the applicant. With the Standard Track you can obtain a second passport in 6 years in exchange for a minimum investment of €512,000. After holding a qualifying investment for 5 years, on further application, such a resident would qualify for citizenship. The residence permit takes about 14 days to issue. Under the Investment Promotion Act, foreign citizens must register a company with the Bulgarian Commercial Register or invest in real estate … : to purchase the Bulgarian State Bonds), etc. Temporary residence by investment in Real Estate The law requires the applicant to invest in real-estate in Bulgaria the amount of 312, 000 € in order to obtain temporary residence. The required documents are published in Art. An open letter from our Client to the Bulgarian Parliament Wednesday January 13, 2021 Web meeting for new EU citizens who have obtained Bulgarian citizenship by investment in 2020 Friday January 08, 2021 BrExit and why Britons need EU citizenship Thursday December 31, 2020 Your Bulgarian citizenship application has been declined because of objection by the State Agency for National Security Any foreign citizen of legal age and with a clean criminal record who is not considered a threat to national security and can invest a minimum of 1,000,000 BGN, thus making him or her eligible to apply for Bulgarian citizenship. In order to apply for a residence permit the Foreign citizen should initially obtain a long-stay visa. BULGARIAN RESIDENCE FOR NON EUROPEAN CITIZENS BULGARIAN PROPERTIES and our team of lawyers can assist in obtaining a Bulgarian residence permit for NON EUROPEAN CITIZENS who have bought real estate properties in Bulgaria through our company. At SmartMove Immigration we provide assistance to EU and non-EU nationals to obtain Bulgarian citizenship by investment. In exchange for a safe and state-guaranteed investment, applicants from all nationalities can obtain permanent residence with only 2 statutory visits to Bulgaria. Once the main applicant has obtained his or her PR, family members can also submit their application. Consequently, Bulgaria’s improving economy will also continue to attract foreign investors and immigrants; many of whom will consider starting a business in Bulgaria , applying for a Bulgarian residence permit or Bulgarian citizenship . 3.4 If permission to work or stay is needed from 1 January 2021, how long does the procedure take? There is a fee of 500 BGN for the 1 year period. By origin. The annual revenue is between 1 and 3%. Non-EU nationals and their families (spouse and children below 18) can apply for Permanent Residence in Bulgaria if they invest in several financial instruments. Permit revocation. This means an investor can get Bulgarian citizenship within just 2.5 years, without any physical residency requirements. No further investment is required. Application for the opening of a private account on the name of the Investor and buying government bonds for approx. Do I need to know Bulgarian language or take a Bulgarian language exam in order to get Bulgarian citizenship through an investment? This is an option different from continuous and permanent residence permits. There is a fee of 500 BGN for the 1 year period. 6. investor. real estate. Bulgaria Investor Residency Any individual desirous of residing in Bulgaria for more than three months within a six month period is required to obtain an extended residence permit with a validity of one year. Bulgarian legislation considers cohabiting couples as a family. To find out more or to opt-out, please read our, The moratorium on granting Moldovan citizenship will be extended by two months, Greece approves €400,000 Govt Bonds and Bank deposit for Golden visas, Moldova Citizenship by Investment Program Temporary Suspended. Holders of a permanent residence permit are entitled the same rights and obligations that come with Bulgarian citizenship except those which are explicitly forbidden (e.g. There is no physical residence requirements or fluency in Bulgarian language as required by the gener… Immigration. If among the next of kin, up to great-grandmothers and great-grandfathers, there are people with proven Bulgarian roots, then you have the right to get a passport according to … The Investor will have to visit Bulgaria for apply and to personally pick up the residency card and the address card (this has to be done within 180 days from the issue of the D-type visa). Once the residence application is approved, the permanent residence card shall be issued. Non-EU citizens who are retired in their home country can apply for a Bulgarian Pensioner D visa and temporary residence permit. Continuous residence for a period of five years makes the individual eligible for applying for a Permanent Residence Permit. This means that after holding a residence permit for at least 1 year, candidates who have made an initial investment of €512,000 can double their investment to the total amount of €1,024,000. Q) How many years do I have to stay in Bulgaria to obtain a Bulgarian permanent residence permit? As a general rule, the applicant will have to wait (keep the Investment) for 5 years and after this period he can apply for the citizenship. There’s contention among citizenship by investment practitioners regarding the residence/citizenship by investment program in Bulgaria. Permanent Residence Permit: In addition to the aforementioned investment, an alien may apply for a permanent residence permit if they have been legally and continuously resident in Bulgaria for 5 years and have not been absent for a cumulative period of more than 30 months. … Different types of residence permit are issued according to your status, including: pensioner, employee and; freelance professional. Must have maintained permanent resident status and a valid residential address for the past five years. The Bulgarian citizenship by investment program is a two-stage procedure: The first stage is a permanent residency card application, subject to an investment of minimum 512,000 euros. The investment program for residence and citizenship in Bulgaria started in 2009 and the primary reason for implementing this kind of program was to attract foreign direct investment in the country. After Bulgaria’s accession to the European Union, the country became an attractive and secure place for foreign investments. FOREIGN RESIDENCE IN BULGARIA, Real Property Individual Investment Services, Subscription Plans for Legal Enitites and Liberal Professions, LONG-TERM BULGARIAN VISA /BULGARIAN VISA D/, Permanent Residence in Bulgaria. Bulgaria also has an Investment Promotion Act through which foreign investors may apply for a residence permit. This step includes preparation, signing and certifying of all necessary documents, incl. In December 2013, the Bulgarian Parliament passed legislation and made changes to the Bulgarian citizenship Act, according to which if an investor doubled the investment at any time after the first year from receiving permanent residency, he becomes eligible for citizenship within a further 6 months, rather than having to wait for the 5-year period to run out. The Bulgarian government bonds are 100% secure financial instruments with absolute liquidity. The moratorium on receiving new applications regarding the acquisition of Citizenship by Investment of the Republic of Moldova will be extended by two months. He must possess a valid passport or another foreign travel document and must have a clean criminal record. All the above options focus on the financial investment in our country in order to allow obtaining a residency permit. Bulgaria is a part of the European Union, therefore with its passport, it is allowed to live, work and study in any state of the region without restrictions. The investment is fully guaranteed by the government bonds. Have at least one year of permanent residency status; Double your investment in bonds in the second year followed by application for a Bulgarian citizenship and passport with the Ministry of Justice. Our law firm has good experience in assisting clients in the above-detailed procedures, where we can provide legal advice about the requirements of the law and all the necessary documentation, as well as perform legal representation before all the local Authorities. Must have never been sentenced by a Bulgarian court for a capital offence or accused in crimina… A main applicant’s spouse is only eligible if the spouses have been married for no less than five years at the time of application. Bulgaria Citizenship by Investment. The residence permit takes about 14 days to issue. You must hold Bulgarian long-term permit for 5 years before becoming eligible to apply for a permanent residence permit. The fast-track option allows investors to apply for citizenship faster by doubling their investment. – Registration of trade representation office in the local Trade Chamber of a foreign company, where we can prepare and perform the registration and all the related legal activities for the fulfillment of the legal requirements for obtaining residence. – the investor should obtain a permanent residence permit in the Republic of Bulgaria; – after 5 years on permanent residence in Bulgaria, the investor has the right to apply and receive Bulgarian citizenship; 4. The purchase of Bulgarian Government Bonds is the best option for candidates with funds available for such volume of investment. It is issued for the period of either 6 months or 12 months and is an essential requirement for all eligible applicants to be considered for a Bulgarian residence permit. Bulgarian Residence for Pensioners How to obtain a Bulgarian Pensioner D visa and residence permit. Each applicant will be required to make two trips to Bulgaria. has created 10 jobs for Bulgarian citizens, and these have to be maintained for the residence permit to remain valid. Economic citizenship is essentially the same thing as citizenship by investment. European citizens are issued two types of residence certificates: A. The second stage is the citizenship application. Ask for a free calculation here. Permanent Residence Permit via Investment in Bulgarian Government Bonds. The processing time for the Applicant is currently 8-12 months, resulting in Permanent Residency status. The Bulgarian Citizenship by Investment Program offers straightforward routes to acquiring European Citizenship for the entire family with freedoms to live, work and study in any of the 28 EU member states. The investment must be made in BGN and in the end of the process it shall be returned in BGN too. The Bulgarian legislation is extremely favorable for these foreign investors who would like to invest in our country and at the same time to obtain residency permit or even Bulgarian citizenship through investment. To establish a foreign company in Bulgaria, applicants need to set up a trade representative office. The Bulgarian program is a two-stage procedure, explains Raia Petkova of Visa-Free Europe, a Sofia-based investment migration firm: “The first stage is a permanent residency card application, subject to an investment of minimum 512,000 euros. With the Standard Track you can obtain a residence permit and ID card for non-EU nationals that allows its to! This is an option different from continuous and permanent residence permit received up to 18 years, including Schengen,! The investment is fully guaranteed by the Bulgarian Ministry of Interior BGN 1 million ) in government bonds for.! 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