Bulgaria Residency by Investment - Procedure for 2022
Residency by Investment in BulgariaUpdated on Wednesday 16th February 2022
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Foreign citizens who want to move to Bulgaria have various means they can use for temporary or permanent relocation. They can also apply for regular types of residence permit, or, if they have sufficient funds they can opt for residency by investment.
Bulgaria residency by investment can be obtained against a financial contribution made by a non-EU citizen, as this program was created for citizens of countries outside the European Union and European Economic Area.
Below, we invite you to read what it implies to apply for residence by investment in this country. Our lawyers in Bulgaria are at your disposal with various immigration services.
The Bulgarian residence by investment scheme and its options
Obtaining a residence visa for Bulgaria by making an investment is a great option for those who have savings of more than 100,000 euros and want to relocate to an EU country.
The Bulgaria residency by investment scheme offers several choices to those interested in immigrating here under its conditions. Here they are:
- the lowest investment option is 125,000 euros which is required for acquiring at least 50% of the share capital in a local enterprise or in a greenfield project;
- the second option is to invest at least 250,000 euros by setting up a new company in which the foreign applicant is the sole owner (the creation of 10 jobs is also required in this case);
- buying a property worth at least 300,000 euros is also an option (this often the most selected);
- the acquisition of government bonds worth at least 511,292 euros can also enter the attention of foreign citizens;
- the maximum amount that can be invested is 3 million euros which can be injected in a private company.
With so many possibilities, it is no wonder that Bulgaria has become an appreciated investment destination.
Our law firm in Bulgaria is at the service of foreign investors who want to relocate here and need assistance in making sure they meet all the requirements.
Conditions to meet in order to obtain residency by investment in Bulgaria
Apart from having the financial means to apply for a residence permit under this program, people who want to relocate to Bulgaria must also meet other requirements than the financial one. These are:
- the person must have a clean criminal record;
- the applicant must also bring proof of the legitimacy of the money to invest.
Apart from these, when filing the papers, the passport must be valid for another 6 months (in order for the applicant to enter Bulgaria and obtain the residence permit) and health insurance with the minimum coverage imposed at EU level must also be secured.
Our Bulgarian lawyers can provide detailed information on the documents to prepare when filing for residency by investment.
Procedure for obtaining residence by investment
Foreign citizens interested in applying for Bulgaria residency by investment must start by finding out all the details of the requirements of their choice in terms of capital injection. From this point of view, they can rely on our lawyers who can help them decide.
One of the most sought options is real estate purchase, as it is a combination between owning a valuable asset and the possibility of living here permanently, however, business investment is also an option for those who already had companies in their home countries and want to continue their activities here.
Once the documents are drafted, they need to be filed with the Bulgarian Ministry of Interior. A response should be obtained in 3 to 6 months (hence the passport validity requirement).
We stress the importance of having a complete file in order to avoid setbacks. This is one of the main reasons we offer tailored immigration services to persons interested in moving to Bulgaria, including those interested in residency by investment.
Residence or citizenship by investment in Bulgaria
Even if it is not difficult to obtain Bulgarian citizenship, the investment path is one of the most appreciated because it can lead to having a Bulgarian passport within 2 years if a fast-track procedure is completed (the minimum amount to be invested in this case is 1 million euros). Another advantage is that successful candidates can also retain their former citizenship.
If you want to apply for Bulgaria residency by investment you can benefit from similar rights as Bulgarian citizens, however, citizenship can be obtained after 5 years under its conditions.
If you need help in applying for residency or citizenship by investment, our Bulgarian law firm is at your disposal with a wide range of immigration services. Contact us for a personalized consultation right away!