Temporary Residence in Bulgaria
All foreign nationals who would like to obtain temporary residence in Bulgaria need to apply for a long-term Visa D at the nearest Bulgarian consulate or embassy. The Foreigners in the Republic of Bulgaria Act is very flexible allowing a Visa D to be granted on more than 20 grounds.
The most popular grounds for obtaining a Visa D and temporary residence in Bulgaria:
- Opening of a Trade Representative Office of a foreign company in Bulgaria;
- Incorporation of a Bulgarian limited company employing at least 10 local citizens;
- Investment in real-estate of 312,000 EUR.
Opening of a trade representative office in Bulgaria
A foreign limited company can open a representative branch in Bulgaria. The Foreigners Act allows the directors of foreign companies to apply for a Visa D and Bulgarian residence permit enabling them to represent and promote their foreign business in Bulgaria. This option is considered as the most convenient and affordable ground to promote a foreign business and immigrate to Bulgaria. There is no requirement for employment of local citizens or amount which should be invested.
Incorporation of a Bulgarian limited company and employment of ten local citizens
Despite the fact that the employment of local citizens prior to the actual application for a Visa D might be considered unnecessary expense, this ground of temporary residence in Bulgaria is viewed as consequence of the successful representation and promotion of a foreign business in Bulgaria through a trade representative office.
A substantial part of the applicants for a temporary residence under the company incorporation ground are foreign business persons who initially arrived in Bulgaria as representatives of their foreign companies, and as a matter of time they expanded their business in Bulgaria to the need of employing local citizens.
Temporary residence by investment in Real Estate
The current law requires a foreign national to invest in real-estate in Bulgaria the amount of 312, 000 € in order to obtain temporary residence. The temporary residence is issued within 3-6 months only. After the investment is completed, the applicant needs to apply for Visa D first and then after his arrival in Bulgaria an application for temporary residence is submitted with the local Migration Police.
Real estate investments in Bulgaria can be considered very attractive for several reasons. First of all, the realistic annual returns from rents are ranging between 5-7 %. As the member state of the European Union with lowest prices of properties, the substantial foreign investments, and the upcoming accession to the Schengen zone, the property prices in Bulgaria are gradually increasing. Additional benefits are that your family members can obtain temporary residence as well, enjoy free state education and health care in Bulgaria.
Benefits of Temporary residence in Bulgaria
- Holders of a Bulgarian Visa D and residence permit can reside legally in Croatia, Cyprus, Romania and Serbia for 90 days in any 180 days period visa free.
- You receive a Bulgarian ID card for non-EU nationals that allows multiple entries and stay in Bulgaria.
- Holding a temporary residence permit for 5 years, you are eligible to apply for a Bulgarian permanent residence permit.
- Foreign nationals who have obtained Bulgarian permanent residence permit and reside in Bulgaria for 6 months annually in the last five years are eligible to apply for Bulgarian citizenship by naturalization.
- You enjoy a relaxed visa application process among Schengen Area countries.
- You may apply for family reunion and bring your family members to Bulgaria.
For more details about how to obtain Visa D and temporary residence in Bulgaria, please do not hesitate to contact us.