An investor who wants permanent residence in Bulgaria can choose among several statutory grounds that grant it directly. The status has no expiry date, and once five years have passed it allows an application for Bulgarian citizenship.
Benefits
Investors favour this regime because:
- it gives permanent residence without an intermediate status;
- apart from keeping the investment in place, it asks for no physical presence in the country;
- after five years as a permanent resident, you may apply for Bulgarian citizenship.
Qualifying investments
The grounds used most often are listed below.
- Bulgarian collective investment schemes: units worth at least BGN 1,000,000 (EUR 512,000);
- alternative investment schemes: units worth at least BGN 1,000,000 (EUR 512,000);
- Bulgarian public companies listed on a regulated market: shares or bonds with a market value of at least BGN 2,000,000;
- a contribution of at least BGN 2,000,000 to the capital of a Bulgarian company, to finance a certified priority investment project.
Outline of the procedure
The procedure runs through these main steps: 1. preliminary review by the Bulgarian Investment Agency; 2. the investment, made via a licensed investment intermediary; 3. certification of the completed investment; 4. a Visa D; 5. a permanent residence permit.
Points to watch
Some investments fall short of the statutory requirements and do not lead to permanent residence. Investment schemes also call for a detailed check of where the money comes from (AML and KYC), correctly drafted declarations and strict observance of the anti-money-laundering rules.
Our role
How the investment is structured matters most, and it depends on the client's nationality, risk profile and intended outcome. Contact us and we will analyse your particular case and handle the whole procedure for you legally.
Further reading
From our practice
Common questions
- What is the timeframe for investment-based permanent residence?
- The standard route takes 5 years, but with an investment the status can be granted as soon as the investment has been verified, and no earlier period of residence in Bulgaria is needed.
- May a permanent resident in Bulgaria take up any employment?
- Yes. The holder of a permanent residence permit may work in Bulgaria freely, with no separate work permit.
- Which investments give a right to permanent residence in Bulgaria?
- The law sets out two main routes. The first is putting at least BGN 1,000,000 into shares or bonds of Bulgarian companies. The second is holding an average annual deposit of no less than BGN 1,000,000 with a licensed bank in Bulgaria.
Please note
This article gives general information and is not legal advice. The legislation changes, so for current and binding guidance on your own case, please contact us.
Do you have a question on this subject, or need legal help with it?
Arrange a consultation