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OBTAINING PERMANENT RESIDENCE FOR INVESTMENT

Foreigners in Bulgaria can apply for a permanent residence by investment in accordance with Art. 25, para 1, sub-para 6 of the Bulgarian Law on Foreigners. Let us consider what is required for this.
Obtaining permanent residence for
        investment

WHAT DO YOU HAVE TO DO?

So, sub-para 6 states that to obtain permanent residence, foreign citizens must invest at least one million leva or increase their investments by this amount as a result of the acquisition:
  • Shares of Bulgarian companies traded on a regulated exchange;
  • Bonds, Treasury bills that were issued by the state or individual municipalities and have a remaining maturity of at least six months, as well as derivatives with the same characteristics;
  • Ownership of a separate part of the property of a Bulgarian company, at least half of the capital of which is in state or municipal ownership;
  • Participatory interests, shares in a commercial organization previously owned by the state, municipality;
  • Intellectual property in Bulgaria;
  • Rights under concession agreements in Bulgaria.

The document certifying the investment can also be requested by the employees of the migration service directly from the Bulgarian Investment Agency on an official basis. For its issue, a foreigner is obliged to provide in advance the Agency with the relevant evidence of the investments made. The types of such supporting documents are clearly regulated and depend on the type of investment. These can be originals of contracts, bank certificates, opinions of independent experts on the value of intellectual property and other documents. Also, in accordance with the Law on Combating Money Laundering, a declaration of origin of funds is required. For consideration of documents, you must pay a fee of 10 levs. The term of processing is 2 months, if necessary, it can be extended. When the permit is received, you must pay the state fee, its amount is 1000 levs. With a letter of notification from the migration service, you should obtain a SCN (single civil number), and then order a plastic permit card. Despite the fact that the status is unlimited, the card is issued for 5 years and then renewed. The cost of producing a document is 45 levs, the card will be ready in 30 days. It should be borne in mind that the Investment Agency informs the Migration Service of all changes in the circumstances on the basis of which the permanent residence was obtained. Thus, if the basis for granting permanent residence disappears, the foreigner may be deprived of the status. In case of any change in circumstances, the foreigner must notify the Investment Agency. In addition, once a year, no later than December 1, it is necessary to inform the Agency about the absence of changes.
Algorithm for obtaining permanent residence
First, you should apply to the Bulgarian consulate in the state of your legal residence to obtain a long-term visa (type D). This will require the documents listed below, as well as health insurance for foreigners for a period of stay with coverage for less than 60 thousand leva. With this visa, valid for 180 days, you need to enter Bulgaria. After that, at least two months before the expiration of the permitted period of stay in the country, you must personally appear at the regional office of the migration service and fill out an application. The following documents are attached to the application:
  • A valid foreign passport (it must be valid for at least another three months). Additionally, you need to make copies of spreads with a photo and a stamp about the last crossing of the Bulgarian border.
  • Certificate of no criminal record in the country of usual residence. The document must be translated and legalized, and it must be issued a maximum of five months before presentation.
  • Stateless persons are exempted from the obligation to provide such a certificate. Proof of housing availability (this can be a lease with an address declaration for those who live in rented housing, or a notarial deed for the owners).
  • A certificate from a Bulgarian bank stating that the foreigner's account has the amount necessary to live in the country without resorting to social services.
  • A document certifying the investment made.
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