BAI certificate: how to prove your investment when moving to a permanent residence permit

Foreign nationals who previously lawfully acquired a long-term residence permit on the basis of the former items 19 (investment in real estate) and 20 (investment in economically disadvantaged regions) of Article 24, para 1 of the ZChRB have the legal right to apply for a permanent residence permit, provided they have impeccably maintained these investments for 5 years.

The transition to a permanent residence permit after 5 years of holding the assets is governed by the current Art. 25, para 1, item 17 of the ZChRB.

Preliminary stage: Certification with the BAI

The transition to a permanent residence permit does not happen automatically through the Migration Directorate. The first step is obtaining an official Certificate from the Bulgarian Investment Agency (BAI) confirming that the investment obligations have been maintained.

Document flow:

Filing an application with the BAI: It must be accompanied by a detailed declaration on the origin of the funds and documents confirming uninterrupted ownership of the assets.

For former investments in real estate: A current certificate of absence of encumbrances and of recorded ownership rights from the Registry Agency (Имотен регистър) is provided.

For former investments in business/regions: A certificate from the Ministry of Innovation and Growth (formerly the Ministry of Economy) confirming that the project parameters and jobs have been maintained is provided.

Official exchange: The completed BAI Certificate is not handed to the applicant for subsequent submission. Within 14 days the Agency sends it through official channels directly to the Migration Directorate. The applicant receives only a notification copy.

Validity: The official confirmation obtained is valid for the migration authorities for 6 months.

Filing documents with the Migration Directorate

Once the BAI has confirmed the status of the investment, the investor personally files an application for a permanent residence permit at the regional migration office.

Deadlines:

Documents are accepted strictly no later than 2 months before the expiry of the current long-term residence permit.

Thanks to the prior verification by the BAI, the review period for a permanent residence permit application on this ground is reduced to 14 days (instead of the standard 2 months).

Set of documents:

Application in the prescribed form.

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

Foreign passport: Valid for at least 3 months from the date of filing, together with plain copies of the main page spread and the pages with stamps.

Financial means: A certificate from a Bulgarian bank confirming personal funds in an amount equivalent to the subsistence minimum for a year ahead.

Housing: A notarial deed of ownership (the very property for which the status was opened) or a valid lease agreement with an address declaration, if the investment was commercial.

Final processing and the new fees in Euro (€)

After a positive decision is received from the Migration Directorate, the procedure is completed under the standard protocol for permanent residents:

Fee for granting a permanent residence permit: €512 (the equivalent of the former 1000 leva). Paid in a single instalment before the personal documents are ordered.

Registration with the Obshtina (municipality): The investor applies to the Obshtina at their place of residence to be entered in the ESGRAON database, to be assigned an EGN (Единен граждански номер) and to be issued a Certificate of permanent address.

Production of the personal card: The plastic permanent residence permit (Карта на постоянно пребиваващ чужденец) is issued by the migration service. The price of standard production (30 days) is about €23 (45 leva). The plastic card itself is valid for 5 years, after which it is renewed without a review of the case, by a simple replacement of the photo.

An important obligation: Annual monitoring

Receiving the permanent residence permit stamp does not release the investor from state monitoring. Under the law, a foreign national is obliged to:

Immediately notify the BAI and Migration of any changes (for example, the sale of a share or a restructuring of assets) that could invalidate the right to the status.

Annually, by 1 December of the current year, submit to the BAI a declaration and evidence confirming that the investment remains intact. Breach of this rule automatically triggers the procedure for revoking the permanent residence permit under Art. 40 of the ZChRB.