VISAS, RESIDENCY AND CITIZENSHIP PROGRAMS IN BULGARIA FOR PROPERTY OWNERS FROM TRIRD PARTY COUNTRIES
1. SHORT-TERM VISAS FOR OWNERS
1. Any foreigner owner of property in the Republic of Bulgaria is entitled to a short-stay visa for a stay of no longer than three months within any six-month period from the date of first entry into the territory of the Republic of Bulgaria.
Foreigners who wish to reside in Bulgaria for a long period (more than three months within any six-month period) must apply for the residence permit.
LONG-TERM RESIDENCE PERMIT
2. Long-term residence permission can receive foreigners who have invested an amount not less than € 300,000 – for each foreigner to acquire ownership of real estate in Bulgaria, or foreigner who owns more than 50% the capital of a Bulgarian company, invested the same amount in capital and as a result, the company has acquired ownership of real estate in the country this value.
3. Long-term residence permission shall be issued to a foreigner – a sales representative of a foreign company registered in the Bulgarian Chamber of Commerce.
The long-term residence permission may be renewed if the grounds for its issuance are still in force at the time of renewal. After having acquired a long stay permission foreigner can live and travel on the territory of Bulgaria while the permit is valid. The foreigner may freely choose domicile may leave and re-enter the country.
Foreigners who have acquired a long-term residence permission shall have all rights and obligations granted to Bulgarian citizens, except those for which Bulgarian citizenship is required. For example, may be employed by Bulgarian employers to obtain insurance, health insurance, etc.
CERTIFICATE OF PERMANENT RESIDENCE
4. A certificate of permanent residence is issued to foreigners who have made investments in Bulgaria over € 512,000 through the acquisition of:
- Shares of Bulgarian companies traded on the Bulgarian regulated market
- Bonds and treasury bills and derivative instruments issued by the state or municipalities with a residual maturity of not less than six months
- Ownership of a separate part of the property of the Bulgarian company with more than 50 per cent state or municipal participation in the capital under the Law on Privatization
- Units or shares owned by the state or municipalities Bulgarian company under the Law on Privatization
- Bulgarian intellectual property – subject to copyright and related rights protected by patent inventions, utility models, trademarks, service marks and industrial designs
- Rights under concession contracts in the Republic of Bulgaria
- Deposit in a licensed credit institution in Bulgaria under a trust for a period not less than 5 years, for the same period the deposit is not used to secure other cash loans from credit institutions in Bulgaria
5. A foreigner can acquire citizenship by naturalization, five years after receiving a permit for permanent or long-term residence in the Republic of Bulgaria;
CITIZENSHIP BASED ON INVESTMENT – no earlier than one year from the receipt of a permanent residence permit, provided that the investment is increased to a value not less – less than € 1,024,000.