Third-country nationals shall enter Bulgaria with a visa under Art. 1 of the Law on Foreigners in the Republic of Bulgaria. Once on the territory of the country, they can apply for long-term residence or so-called temporary residence permit. There are various grounds for obtaining a long-term residence permit.
When it comes to bulgarian residency by investment, the law provides several grounds on which one can apply for long-term residence.
One of the grounds states that the person must be carrying out a commercial activity in the country through which at least 10 full-time jobs are created for Bulgarian citizens.
Another ground is an investment of not less than BGN 600 000 in real estate in the territory of the country or ownership of more than 50 per cent of the capital of a Bulgarian commercial company. The amount invested in capital must be of the same amount and the company must have bought real estate in the country.
If your investment intentions do not meet these grounds, another article tells us that it is necessary to make an investment in economically disadvantaged regions within the meaning of the Investment Promotion Act. The investment must be by way of a contribution to the capital of a Bulgarian commercial company of an amount not less than BGN 250 000. There are additional requirements to this article of the law, which a specialist lawyer can clarify in a legal consultation.
Bulgarian legislation also allows foreigners with innovative projects to “start-up”. In order to obtain a long-term residence permit, they must have been issued with a certificate for an innovative or high-tech project- a “Startup Visa”. This certificate is issued by the Ministry of Innovation and Growth.
In order to avoid mistakes in the preparation of the documentation and to secure your long stay permit, request a consultation with a qualified migration lawyer.
After getting permanent residency, the person must have made new investments or increased his or her initial investment on several different parameters. You can apply for permanent residence for the purpose of investment under the points of the Aliens in the Republic of Bulgaria Act listed below.
- Purchase of shares or bonds of Bulgarian companies with a market value of at least BGN 2 000 000.
- The possession of rights under concession contracts on the territory of the Republic of Bulgaria with a value of at least BGN 1 000 000.
- To hold shares or stocks with a value of not less than BGN 1 000 000 in collective investment schemes originating in the Republic of Bulgaria, operating under the Act on the Activities of Collective Investment Schemes and Other Undertakings for Collective Investment. There are a number of additional requirements under this point in the law which must also be complied with.
- Ownership of units or shares with a value of at least BGN 1 000 000 in alternative investment funds established in the Republic of Bulgaria and meeting certain requirements in the Act.
- Investment in the country by contributing to the capital of a Bulgarian commercial company an amount of not less than BGN 2 000 000 for the implementation of a priority investment project. This project shall be certified under the Investment Promotion Act, which shall be certified by the Ministry of Innovation and Growth.
- An investment of at least BGN 6 000 000 in the capital of a Bulgarian commercial company which shares are not traded on a regulated market.
- Maintain the investment for 5 years after obtaining the long-term residence permit.
- An investment made by contributing to the capital of a Bulgarian commercial company- an amount of at least BGN 500 000. The foreigner must be a partner or a shareholder with registered shares and hold at least 50 per cent of the company’s capital. The investment must have resulted in the acquisition of new tangible and intangible fixed assets worth at least BGN 500 000 and the creation of at least 10 jobs for Bulgarian nationals, maintained for the duration of the stay. This investment must be certified by the Ministry of Innovation and Growth.
In order for such a certificate to be issued, the Bulgarian company needs to prove the need for residency in the Republic of Bulgaria. If you want success in obtaining all the necessary certificates and preparing the documents, contact us.