Permanent Residence in Bulgaria
Permanent Residence by Investment in Government Bonds
In exchange for a safe and state-guaranteed investment of 512,000 EUR to be refunded at the end of 1 year-term, applicants from all nationalities can obtain permanent residence with only a single visit to Bulgaria.
The permanent residence can be upgraded to citizenship if the investment is maintained for five years (ordinary track) or it is increased to 1,024.000 € after 12 months (fast track). There is no physical residence requirements or fluency in Bulgarian language as required by the general naturalization rules.
Permanent residence by investment
- The client purchases government bonds of 512,000 EUR
- Time to Permanent Residency – 6 months
- Time to Bulgarian Citizenship – 60 months
- Investment in EUR (Refundable) – 512,000 EUR
- All-in Handling Fee in EUR (Non-refundable) – 15,000 EUR including all state & legal fees related to obtaining PR and Citizenship.
- Handling Fee in EUR Dependents – 0 EUR the fees for the family members are included in our fee for the main applicant
The program can be upgraded to citizenship by investment.
NB: The permanent residence is granted for five years. If the applicant maintains the investment for five years, he/ she will be eligible to apply for permanent indefinite leave to remain residence or Bulgarian citizenship.
Schedule to get Bulgarian Permanent Residence by Investment in Government Bonds
Month 1 – Application for the opening of a private bank account with the serving Bank and buying Bulgarian government bonds for approx. 512,000 €. This step includes the preparation of the set of Investor D visa application documents, confirmation certificate of investment in government bonds issued from the Bank and Investment certificate issued from the Bulgarian Investment Agency;
Month 2 – The Investor applies for a D visa in the nearest Bulgarian embassy or general consulate. The Bulgarian Investor visa is usually granted within 30 working days;
Month 3 – Applying for a permanent residence by investment. The investor visits Bulgaria to apply for permanent residence with the local Migration Office. Usually, permanent residence applications are considered within 30 working days;
Month 4 – 6 – Once the residence application is approved, the investor will be photographed and the permanent residence card is issued within 3 working days. Family reunification process can be started. Family members will obtain permanent residence in 3 months.
The investor may obtain fast-track Bulgarian citizenship if he/ she doubles the investment by 512,000 € in Year 2.
Permanent residence by prolonged stay
Obtaining temporary residence in Bulgaria and renewing it annually for a period of five years and residing physically in the country for 30 months in the last five years, you are eligible to apply for a permanent residence in Bulgaria. The Foreigners in the Republic of Bulgaria Act allows foreign nationals to apply for Visa D and Bulgarian temporary residence under more than 20 grounds.
This is the most popular category for obtaining permanent residence in Bulgaria. The Bulgarian residency is implied by the prolonged stay of the applicant under a category of the Foreigners in the Republic of Bulgaria Act which does not automatically provide ground for permanent stay otherwise.
If the foreign national resides for another five years in Bulgaria after the permanent residency was granted and he is fluent in Bulgarian, the applicant can apply for Bulgarian Citizenship by Naturalization.
Permanent residence by origin
If you have Bulgarian origin and you have obtained a certificate of Bulgarian origin from the State Agency for Bulgarians Abroad, but you have failed your Bulgarian citizenship by origin application because you cannot provide sufficient evidence of your origin or for any other reason, you still may obtain Bulgarian permanent residence.
The residence permit application should be submitted no later than 2 months before the expiration of your Visa D granted on your Bulgarian origin where applying for the first time. Renewal applications should be submitted no later than 3 months before the expiration of the permanent residence permit.
The interesting here is that after residing physically in the country for 48 months in the last five years on permanent residency, you are eligible to apply for a Bulgarian Citizenship by Naturalization. So, even if your Citizenship by origin application failed, you will be able to apply on naturalization ground next time.
Benefits of obtaining Permanent Residence in Bulgaria
- Holders of Bulgarian permanent residency can work in Bulgaria without work permit;
- Non-EU nationals and their families (spouse and minor children) can obtain Permanent Residence in Bulgaria. It should be noted that permanent residence gives the same rights as Bulgarian citizens, except voting;
- Holding Bulgarian permanent residence for five years entitles you to apply for Bulgarian citizenship;
- Opportunity to become resident of the European Union. Easy access to EU countries – no visa requirement.
- Holding a permanent residence the foreign national is entitled to enter and leave the country as many times as they wish without visas.
- Free education and medical system throughout EU.
- Bulgaria tax residence. Becoming a permanent resident, you can easily qualify as Bulgaria tax resident.
For more information about obtaining Bulgarian permanent residency, please do not hesitate to contact us.