Permanent residence permit for an investment of €3,067,751 without a prior long-term residence permit

Major foreign investors are entitled to obtain permanent resident status (permanent residence permit) in Bulgaria through a direct track, bypassing the stage of several years of prior residence under a long-term residence permit.

This ground is set out in Art. 25, para. 1, item 8 of the Foreigners in the Republic of Bulgaria Act (ЗЧРБ).

Following the country's transition to the euro, the investment amount fixed by law is now €3 067 751 (the exact equivalent of the former 6,000,000 leva). These funds must be invested in the capital of a Bulgarian commercial company whose shares are not traded on a regulated market (stock exchange). The investor must also own a proportionate share of that company's capital.

Step-by-step procedure: from the type D visa to filing the documents

The process of obtaining the status consists of two key stages: obtaining the visa and filing for the permanent residence permit inside the country.

Step 1. Obtaining a type D visa

The foreigner makes the investment from abroad and then files documents for a long-stay type D visa at the Bulgarian consulate in the country of their citizenship or permanent residence.

The visa requires a standard package confirming the investment of funds, as well as a mandatory medical insurance policy with coverage of at least €30 000 (for the validity period of the visa).

Step 2. Filing documents for the permanent residence permit in Bulgaria

After entering the country, the investor applies in person to the Migration Directorate at the Regional Directorate of the Ministry of the Interior for the area of their address in Bulgaria.

Filing deadlines: The package of documents must be filed no later than 2 months before the type D visa expires.

Review period: The application is reviewed within 2 months. If in-depth checks by the migration services or the Commercial Register are required, the head of the agency may extend the period by another 2 months.

Mandatory package of documents for the Migration Service

When filing the application, the investor submits the following set:

Application (молба): Completed using the established state template.

Review fee: Receipt for payment of the administrative fee of €5 (the equivalent of 10 leva).

Foreign passport: Original (valid for at least 3 months from the date of filing) + plain copies of the personal data page, the type D visa and the stamp of the most recent entry.

Certificate from the Bulgarian Investment Agency (БАИ): An official document confirming that the investment has been made and is lawful. The Bulgarian Investment Agency checks bank statements, contracts and the origin of the funds.

Evidence from the commercial company: A certificate from a Bulgarian bank confirming that an amount of at least €3 067 751 was credited to the company's account upon its incorporation or as a capital increase, together with a current extract from the Commercial Register.

Secured housing: A title deed (if the housing is owned) or a notarised lease agreement together with a notarised declaration from the owner regarding the address (адресна декларация).

Financial means: A certificate from a Bulgarian bank confirming funds in the personal account for living expenses (at least one Bulgarian minimum wage per month in advance; it is advisable to show a year's worth).

Criminal record certificate: From the country of citizenship or habitual residence. The document must have been issued no earlier than 5 months before filing, translated into Bulgarian by a licensed translator and legalised (apostilled). Stateless persons are exempt from this certificate.

Final formalities and the new fees in euro (€)

After receiving notification of a positive decision, the investor completes the procedure:

Payment of the state fee for the status: The one-off fee for granting a permanent residence permit on investment grounds is fixed in euro and amounts to €512 (the equivalent of the former 1000 leva).

Registration with the municipality (ЕСГРАОН): With the decision of the migration service, the investor applies to the municipality of their place of residence to be assigned an ЕГН (Единен граждански номер) and to obtain a Certificate of permanent address.

Ordering the plastic ID card: Biometric data is submitted at the migration service and a Карта на постоянно пребиваващ чужденец is ordered. Standard production (30 days) costs about €23 (45 leva). The card itself is valid for 5 years, after which it is simply reissued.

Annual monitoring and maintaining the investment

The specific feature of a permanent residence permit under Art. 25, para. 1, item 8 of the ЗЧРБ is the strict subsequent monitoring:

Annual declaration: Each year the investor must file a declaration with the Migration Service confirming that the investment has been maintained in full, supported by up-to-date extracts from the Commercial Register and the company's reports.

Notification of changes: The investor must immediately report any changes in the capital structure that reduce the amount invested below the established threshold (€3 067 751) or terminate it entirely.

Breaching the asset-retention conditions or failing to submit the annual reporting is a direct ground for automatic revocation of the permanent residence permit under Art. 40 of the ЗЧРБ.