Bulgaria golden visa: residence by investment

Article 24(1)(19) covers a foreigner who has invested at least BGN 600,000 to acquire real estate in Bulgaria, or who owns more than 50 percent of a Bulgarian company that acquired real estate of that value with the same amount paid into its capital. The full sum must have been paid and received in an account at a licensed Bulgarian credit institution by the application date; if loans were used, the outstanding part may not exceed 25 percent.

Article 24(1)(20) covers an investment of at least BGN 250,000 in the capital of a Bulgarian company in an economically disadvantaged region, where the foreigner holds at least 50 percent, the company acquires new fixed assets of at least that value and creates at least five jobs for Bulgarian citizens, certified by the Ministry of Innovation and Growth.

Article 25(1)(6) grants permanent residence for acquiring shares or bonds of Bulgarian companies traded on a regulated market or multilateral trading system in Bulgaria with a market value of at least BGN 2,000,000; rights under concession contracts worth at least BGN 1,000,000; or units worth at least BGN 1,000,000 in licensed Bulgarian collective investment schemes or alternative investment funds that meet minimum size and investment-strategy rules. These investments are made only after the Bulgarian Investment Agency has checked the investor’s identity, the funds in the investor’s payment account, the clear origin of the money and whether the investor is a politically exposed person; the Central Securities Depository certifies that securities are held.

Other permanent routes are BGN 2,000,000 in a certified priority investment project (Art. 25(1)(7)), BGN 6,000,000 in the capital of an unlisted Bulgarian company (Art. 25(1)(8)) and BGN 500,000 with assets of the same value and ten jobs for Bulgarian citizens, certified by the Ministry of Innovation and Growth (Art. 25(1)(16)). Investors with long-stay residence under Article 24(1)(19) or (20) who keep the investment for five years also qualify.

For long-stay residence you apply for a type D visa with the investment documents listed by the Foreign Ministry: a document from a licensed Bulgarian credit institution on the amount of at least BGN 600,000, title deeds or company documents and, for company investments, cost reports and contracts proving the acquisition of real estate. After entry you apply to the Migration Directorate for the residence permit and renew it while the investment is maintained.

Permanent residence applications are filed in person with the Migration Directorate or the migration unit of the regional directorate. The director decides within two months, or four in complex cases.

Unmarried minor children of a permanent resident can obtain permanent residence directly. A spouse qualifies five years after the civil marriage, and the five-year residence condition is waived when the investor holds permanent residence under Article 25(1)(6), (7) or (8). Family members of long-stay investors apply for residence under Article 24(1)(13) through family reunification.

Long-stay residence on the investment grounds of Article 24(1)(19) and (20) does not give access to the labour market under the Labour Migration Act. Permanent residents can work without a permit and enjoy equal access to social security.