Permanent residence permit for units in Bulgarian investment funds: investment of 511 292 €

Foreign nationals may apply for a permanent residence permit in Bulgaria on the basis of large investments in the country's financial sector. This ground is covered by Article 25, paragraph 1, subparagraph 6 of the Law on Foreigners in the Republic of Bulgaria (ЗЧРБ).

The essence and the permitted investment channels

To obtain a permanent residence permit, a foreign national must invest at least 511 292 € (the equivalent of 1 000 000 leva), or increase their existing investment by this amount, in strictly defined financial instruments.

Permitted investment channels:

Units or shares of Bulgarian collective investment undertakings (UCITS or ETF type funds) licensed by the Financial Supervision Commission (FSC), provided that the fund's net asset value exceeds 2.5 million euro and the fund's strategy is focused on Bulgarian assets.

Units or shares of alternative investment funds (AIF) established in Bulgaria and managed by licensed management companies, provided that the fund's assets amount to at least 1.5 million euro and the investment strategy is directed exclusively at assets on Bulgarian territory.

The capital of specialised venture capital funds investing in start-ups and the innovation sector of the Bulgarian economy.

⚠️ Key condition: the investment capital must be held continuously by the investor for at least 5 years. Any early withdrawal of funds leads to automatic cancellation of the status.

Step-by-step procedure and time frames

The process of obtaining a permanent residence permit consists of the following stages:

Stage 1: Certification at the Investment Agency

Before filing documents for a visa or for the status, the foreign national submits evidence of the investment made to the Bulgarian Investment Agency (BIA).

Documents: originals of the unit purchase agreements, bank certificates on the movement of funds, statements from the depository.

Verification of the origin of funds: in strict compliance with the Law on Measures against Money Laundering (ЗМИП), the investor must complete and submit a detailed declaration on the origin of the funds, attaching tax returns or documents on the sale of business assets in their home country.

Stage 2: Filing documents for the permanent residence permit

The application is filed in person at the Migration Directorate for the place of future residence.

Fee for examining the documents: 5.11 € (the equivalent of 10 leva).

Processing time: the documents are examined within 2 months. If additional checks are required, the migration authorities may extend the period by a further 2 months.

Note: the certificate confirming the investment made is requested by the migration service from the BIA on its own initiative through official channels.

Stage 3: Payment of the fee and issue of the card

After receiving official notification of approval, the investor must:

Pay a one-off state fee for the granting of permanent residence permit status of 511.29 € (the equivalent of 1 000 leva).

Obtain a Unified Civil Number (EGN) at the municipality of the registration address.

Order a plastic personal resident card.

Production time: 30 days.

Cost of the card: 23.01 € (the equivalent of 45 leva).

Requirements for the personal card and its renewal

Validity of the document: although permanent residence permit status is granted indefinitely, the plastic card itself is issued for 5 years in accordance with EU regulations, after which it is subject to scheduled technical replacement.

Strict annual monitoring and the investor's obligations

The Bulgarian state carries out continuous monitoring of the preservation of the investment base:

Annual notification: once a year, no later than 1 December, the investor must inform the Bulgarian Investment Agency, in person or through an authorised representative, that there have been no changes in the structure of the investment (a current extract from the register of unit holders or from the depository is submitted).

Duty to notify: in the event of any change of circumstances (for example, restructuring of the fund, change of management company), the foreign national must notify the Agency immediately.

Cancellation of the status: the Investment Agency automatically informs the Migration Directorate of any changes. If the investor sells the units, withdraws the money or reduces the investment amount below the limit of 511 292 € before the 5-year term expires, the ground ceases to exist and the foreign national loses permanent residence permit status, with subsequent cancellation of the personal card.