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The increase in the minimum wage in Bulgaria

There is no inflation in Bulgaria, but the salary increase periodically. As a rule, the minimum wage increases from January 1 and in some cases from July 1. For example, in 2015, its amount was increased twice: in the new year – to 360 BGN, and since July 1 up to 380.

The year 2016

Again it is expected to increase the minimum wage from the January 1, 2016.

Now it will grow by 40 BGN and amount to 420 BGN (which is a little over 210 Euros) per month. And in six months is expected to increase the minimum pension for length of service and age for the Bulgarians that will grow from 157.44 to 161.38 BGN.

In 2017, the Bulgarian minimum wage will continue to grow, and will grow by 40 BGN up to BGN 460, that is slightly more than 230 Euros.

In practice

For the visa application an abstract of account from the bank is required which certifies the presence of the six Bulgarian minimum wages. To obtain a residence permit you must present a certificate that you have an amount equivalent to 6 minimum wages (in the case of obtaining residence permit for six months) or 12 (for obtaining residence permit for 12 months) on your account. Pensioners must provide, respectively, a certificate that they have six or twelve minimum pensions on the account.

Thus, if in 2015 you need to have on a bank account 6*380=2280 BGN or a little more than 1140 Euros for the visa application, from the January 1, 2016 the amount will increase by a lump sum of 240 BGN (120 Euros). To obtain permission to stay per annum, respectively, you will have to get a certificate about the presence of 5040 BGN on an account per person, that is, the sum increases by almost 500 BGN.

Therefore, if the residence permit is scheduled for 2016, you need to take care of to put the missing money into your bank account. And in the summer pensioners will need to make it, with the only difference that the amount of the pension will increase slightly, and hence it will require a lesser amount to put to the bank account than for people of the working age.