The Bulgarian Permanent Residency Programs have been established to allow applicants a relatively swift process for attaining Permanent Residency.
It is compulsory for applicants to obtain a permanent residence permit before applying for citizenship. Also, investors are required to meet several conditions before applying for a permanent residence permit, such as owning the investment for a full five years as a resident, not having a criminal record or being under criminal investigation in Bulgaria, and proving sufficient income to support themselves and their family. (Foreigners Act art. 25, para. 17(7)–(11).) After five years they have the right to apply for citizenship.
A spouse and minor children may obtain a permanent residence permit in Bulgaria together with the investor and apply for citizenship under the simplified procedure. (Citizenship Act art. 12a, paras. 1 & 2.)
Bulgaria offers permanent residency through an investment of (BGN 1 million) into a choice of investment funds that must be held for five years. At the end of the five years, the funds can be withdrawn and returned to the investor.
The following foreign applicants are eligible for a permanent residence permit under the Foreigners in the Republic of Bulgaria Act (FRBA) and the Rules on Application of Foreigners in the Republic of Bulgaria Act (RAFRBA):
1. Invested over BGN 1,000,000 (one million Bulgarian Leva) within the country – or have increased their investment with the same amount – through the acquisition of:
2. Invest a minimum of BGN 1,000,000 at a licensed credit institution in Bulgaria for a period of at least 5 years. This cannot be used as collateral for loans financed by other Bulgarian credit institutions.
3. Applicants who have made a capital investment of at least BGN 6,000,000 in a Bulgarian company that is not traded on a regulated stock exchange.
4. Investment in the country by deploying more than BGN 500,000 venture capital in a Bulgarian company. The applicant must be a partner or a shareholder who holds a majority of the company’s stock and has achieved the following as a result of the investment:
The extended residence permit is issued for a period of up to five (5) years (depending on the expiry dates of the submitted documents) and can be renewed an indefinite number of times.
– Be 18 years of age or older
– Possess a valid passport and reside legally in a country
– Visit Bulgaria three times, for 2-4 days at a time (but no further in-country residence is required)
– Pass due diligence and medical check
– Make only a declaration on the source of funds (no detailed documents required)
Step 1. Your lawyer will prescreen your passport copy for government pre-approval to ensure fast processing. After a down payment of the professional fees required to open your application, World Gate will provide assistance and advice regarding the collection of the required documents
Step 2. The applicant then makes an appointment at a Bulgarian embassy or consulate for document signing. After the investment is transferred by the applicant, the investment certificate is issued. A second appointment is made at a Bulgarian embassy or consulate to apply for the Schengen Visa- Type D (long stay visa).
Step 3. Once the Schengen Visa- Type D is granted, the applicants must travel to Bulgaria to submit the application for permanent residence.
Step 4. Once the permanent residence is approved, the applicant will then make a second trip to Bulgaria to apply for the permanent residence ID card.
Step 5. Once the main applicant is issued the Bulgarian ID document, the procedure for qualifying family members begins. The process for obtaining a Bulgarian ID may take up to six months (this includes two mandatory trips to Bulgaria for each qualifying family member) with an appointment at a Bulgarian embassy or consulate for document signing.
Step 6. The permanent residency certificates are issued to you via courier once the balance of professional fees has been paid and settled.
Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:
Privacy World can also help you with incorporating your company in Bulgaria, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.
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Yes. Dual citizenship is allowed in Bulgaria. You are not required to renounce your previous nationality.
Yes. Once your residency is granted, your spouse and children can acquire residency based on family reunification.
You may apply for Bulgarian citizenship after 5 years of official legal residency in Bulgaria.
Yes, you can leave the country for trips.
Your investor visa is permanent, but your residence card expires after five years, which you have to renew.
Yes, you need to reside in Bulgaria for 5 years of residency.
No nationality is officially restricted as of the moment.
No. Physical residency is not required, although a residential address must be maintained.
Yes. You only have to visit the country twice; when you collect your residence card and apply for your ID number.
Yes. An applicant needs to pass the interview test from the Ministry of Culture.
Yes, an applicant must know the Bulgarian language.
The investor is expected to visit Bulgaria twice to get permanent residency and twice to get citizenship. All the family members will be expected to visit Bulgaria.
No, unless you decide to conduct business in Bulgaria or to physically reside in Bulgaria for more than 183 days within 12 consecutive months.
Yes. An applicant needs to pass a test that includes knowledge of Bulgarian history, culture, and state structure.