The investment must be made in BGN and in the end of the process it shall be returned in BGN too. The investment is certified as qualifying by the Ministry of Economy (MoE) 30 days upon submitting the application. An immigrant can obtain a permanent residence permit in Bulgaria after legal and continuous residence for a period of five years. 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. 3. There is a fee of 500 BGN for the 1 year period. The applicant must apply for a permanent residence permit and ID card in Bulgaria. Ask for a free calculation here. Once the main applicant has obtained his or her PR, family members can also submit their application. The migration of foreign investors is acceptable and permanently encouraged by the Bulgarian country. was adopted by Bulgarian citizens; has a formal permanent residence permit received up to 18 years. Permanent residence permits are issued by the Bulgarian Ministry of Interior. Under the Investment Promotion Act, foreign citizens must register a company with the Bulgarian Commercial Register or invest in real estate … Bulgaria is a member of the European Union. Economic citizenship is essentially the same thing as citizenship by investment. 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. It is also possible to apply for a 6-month period. The main applicant’s spouse and unmarried children under 18 are eligible to become permanent residents after the main applicant is granted resident status. However, when applying for a permanent residence permit and ID card the investor is required to be present in Bulgaria. The requirements for this option are as follows: If Investors utilize the above mentioned options, they will be eligible for citizenship within 6 months of the additional investment. The permanent residence can be upgraded to citizenship if the investment is maintained for five years (ordinary track) or it is increased to 1,024.000 € after 12 months (fast track). The Applicant must not be an EU citizen. 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. The applicant needs to visit Bulgaria to apply for permanent residence with the local Migration Office. The government bond portfolio is for an investment period of at least five years. More about the options to obtain residency permit for Bulgaria through investment, you can read in the following article: PERMANENT RESIDENCE IN BULGARIA THROUGH GOVERNMENT SECURITIES, BULGARIAN CITIZENSHIP. Procedure and Investment requirements 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. The investment is fully guaranteed by the government bonds. €500,000-48%. It’s a way to obtain a second citizenship and passport in another country by investing in its economy. The Bulgarian permanent residency program allows applicants to live in Bulgaria as long as desired. Spouse and dependents are allowed to apply too. 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. 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. The Govt bonds portfolio is a secure investment and is guaranteed by the Bulgarian govt and is returned without any interest after 2 years. Currently, Bulgarian residence permit grants visa-free travel to Romania, Cyprus and Croatia. In exchange for a safe and state-guaranteed investment, applicants from all nationalities can obtain permanent residence with only 2 statutory visits to Bulgaria. The migration of foreign investors is acceptable and permanently encouraged by the Bulgarian country. The investment is fully guaranteed by the government bonds. Bulgarian Citizenship by Investment Program was introduced back in 2014 by changes in Bulgarian Citizenship Act and Foreigners in the Republic of Bulgaria Act and since then it has been offering different opportunities to foreign business investors to gain fast track Bulgarian citizenship in a … The permanent residence permit is valid for the same duration as the applicant’s passport. If you wish to stay longer or are planning to live in Bulgaria permanently, a Long Term Residency Permit can easily be obtained from your local Immigration Department, however, unless you speak Bulgarian, it would be wise to take along an adviser to translate and to help … ... investment in real … It is possible to fast track the citizenship option by increasing the investment amount a further €511,292. 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); By origin. There is no physical residence requirements or fluency in Bulgarian language as required by the gener… 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. 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. Permanent residence permit Permanent residence permits are issued by the Bulgarian Ministry of Interior. An investment of €500,000 will get you a residence permit in this country. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. Spouses and children of the applicant are eligible to acquire permanent residence. 2. Residence Permit for Investment Activity (ARI / Golden Visa) Temporary residency. A Type D visa is a long-term visa that allows its holders to enter the Republic of Bulgaria multiple times. The investor will receive annual interest and at the end of the five-year period, the full amount of BGN 1 million (€511,292) will be returned to the investor. 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. The Bulgarian permanent residency program allows the applicant to live in Bulgaria as long as desired. Residence certificates. 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. Immigration. Bulgaria is a EU and NATO member country in southeast of Europe, surrounded by Romania, Turkey, Serbia and Greece. Non-EU citizens who are retired in their home country can apply for a Bulgarian Pensioner D visa and temporary residence permit. 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. 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. Preparation of the set of Investor D visa application documents, confirmation certificate of investment in government bonds issued from the Intermediary/Bank and Investment certificate issued from the Bulgarian Investment Agency. Bulgarian legislation considers cohabiting couples as a family. From 50 000 EUR. 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 There is a fee of 500 BGN for the 1 year period. Applicants are not required to be in Bulgaria during the whole process. The applicant can enter the country when he or she wishes within this 6 months. 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. The applicant will have to travel to apply for his Permanent Residence Permit, and later to apply and obtain his ID card. To obtain Bulgarian citizenship by investment, you must first obtain a residence permit, and then permanent residence. Forecasts indicate that the Bulgarian economy will continue to perform well in the immediate future. Be of the age of maturity (note: children under 18 obtain citizenship when one of their parents becomes a citizen); Must have maintained permanent resident status and a valid residential address for the past five years; Has not been sentenced for a premeditated criminal offence and is not subject to criminal proceedings for such an offence; Possesses an income and/or occupation allowing him or her to subsist in the Republic of Bulgaria. 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. 6-Month Type D Visa Close family members of the investor are eligible to acquire permanent residence and obtain Bulgarian citizenship in several ways. 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. 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. Long-term residence permit in Bulgaria . Art.40 of the Bulgarian Law on the Foreigners clearly stipulates the hypotheses when the residence permit will be revoked (after a divorce). 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 temporary residence is a preconditon to apply for Bulgarian tax residency. However, the Foreigners in the Republic of Bulgaria Act allows investors to bypass residence and language requirements through the following passive and active investment options. To establish a foreign company in Bulgaria, applicants need to set up a trade representative office. 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. Bulgarian Permanent Residency through Property Investment This is an investment based opportunity for individuals who invest €300k in Bulgaria. Permanent residence permits are issued by the Bulgarian Ministry of Interior. Bulgaria also has an Investment Promotion Act through which foreign investors may apply for a residence permit. All the above options focus on the financial investment in our country in order to allow obtaining a residency permit. You must hold Bulgarian long-term permit for 5 years before becoming eligible to apply for a permanent residence permit. 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 … Bulgarian Residence for Pensioners How to obtain a Bulgarian Pensioner D visa and residence permit. This entitles the person to the same rights as a Bulgarian citizen, except the right to vote. Permanent residence gives the same rights as BG citizens, except voting. 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. 2019 © European Line Management Consultancy, Average cost of setting up a private limited liability company in Bulgaria is around 500-800 EUR, Normally the registration process takes about 2-3 weeks to be fully completed. There is a reduced minimum investment of €350,000 for those who want to take on a … We can perform all necessary legal activities for opening the deposit and management of the investment during the required period. real estate. – 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. European citizens are issued two types of residence certificates: A. Bulgaria Citizenship by Investment. Art.40 of the Bulgarian Law on the Foreigners clearly stipulates the hypotheses when the residence permit will be revoked (after a divorce). There’s contention among citizenship by investment practitioners regarding the residence/citizenship by investment program in Bulgaria. 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. 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. 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. Once the residence application is approved, the permanent residence card shall be issued. 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. … The purchase of Bulgarian Government Bonds is the best option for candidates with funds available for such volume of investment. 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. Application for the opening of a private account on the name of the Investor and buying government bonds for approx. Venture capital Investment fund. 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. It is also possible to apply for a 6-month period. The validity of the visa is 6 months after the date of issue. This is an option different from continuous and permanent residence permits. 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. “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. 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. Portugal. : to purchase the Bulgarian State Bonds), etc. 6. investor. Different types of residence permit are issued according to your status, including: pensioner, employee and; freelance professional. 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. You will be called to have your picture taken. 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. It is a status that allows for unrestricted travel within the territory of the European Union. Applying for a permanent residence by investment. 5. Long-term residence permits up to one year, and B. 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. After Bulgaria’s accession to the European Union, the country became an attractive and secure place for foreign investments. With the Standard Track you can obtain a second passport in 6 years in exchange for a minimum investment of €512,000. Obtaining such on the base of some of the above legal reasons (especially those related to investments of big value), gives the possibility for acquiring Bulgarian citizenship in a less complicated procedure – avoiding the requirements for knowledge of Bulgarian language and without that the candidate is released of his actual citizenship. has created 10 jobs for Bulgarian citizens, and these have to be maintained for the residence permit to remain valid. They are usually seen as a low-risk safe investment. Many reputable firms market the program as a CIP, others as a residency program, and others yet stay away from it entirely. 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