In Bulgaria, the residence permit by investment is presented as a golden opportunity for foreigners who want to invest capital in the country and take advantage of the advantages of the Bulgarian economy. This status is governed by a set of legislative and administrative procedures that facilitate the investment process and provide investors with the possibility of residence. An essential condition for obtaining an investment residence permit is the issuance of a special certificate from the Ministry of Innovation and Growth, which confirms the investments made by the foreign investor. These investments must meet certain criteria, such as investments in the capital of Bulgarian companies, acquisition of fixed tangible assets and creation of new jobs.
In this process, contacting Elan Consulting can be the key to successfully going through all the steps and requirements. Elan Consulting provides professional support and advice on investment legislation issues, helps to prepare and submit the necessary documentation and facilitates communication with relevant government authorities. Our experience and knowledge of the subject can significantly speed up the procedure for obtaining an investment residence permit and minimize the risks of refusal. Ultimately, investors receive valuable support in the process of integration into the Bulgarian economy and society, while opening doors for new business opportunities and personal development in Bulgaria.
The Government of Bulgaria, understanding the importance of attracting investors for the sustainable development of the economy, has taken steps to promote investment through various measures and incentives. One of the key initiatives in this direction is the Investment Promotion Act, which makes it easier for foreigners wishing to invest in the country to obtain a residence permit, also known as “Investor Class A”.
The Investment Promotion Act is the main legal instrument that regulates the conditions and procedures for investment promotion in Bulgaria. It provides various incentives for investors, including tax breaks, accelerated procedures for administrative servicing and support for job creation. This law aims to attract high-quality investments that contribute to economic growth, innovation and job creation.
Investors wishing to qualify as a Class A investor must meet a number of stringent requirements. These include making significant investments in the capital of Bulgarian commercial companies, the acquisition of fixed tangible assets and the creation of new jobs. Also, these investors must participate in the implementation of certified investment projects approved under the law. Fulfillment of these conditions is grounds for obtaining a special certificate from the Ministry of Innovation and Growth, which is a key document when applying for a visa or residence permit in Bulgaria.
The Ministry of Innovation and Growth plays a central role in the process of verification and issuance of certificates for foreigners who invest in Bulgaria. These certificates confirm the existence of circumstances provided for in the Law on Promotion of Investments and are necessary for their presentation to the bodies of the Ministry of Internal Affairs and the Ministry of Foreign Affairs. By issuing such certificates, the Ministry of Innovation and Growth certifies that all requirements for acquiring the status of “Investor Class A” have been met.
In order to facilitate the implementation of the Investment Promotion Act, specific Regulations and Regulations have been developed, which detail all procedures, conditions and requirements. These documents contain important information on the steps investors need to take to take advantage of the incentives offered and speed up the process of obtaining a residence permit. They are essential for understanding the legal framework and ensure that investors can effectively navigate through administrative procedures.
The certificate of investments made in Bulgaria is a key document that certifies that a foreigner has made investments on the territory of the country, meeting certain criteria and conditions set by the Bulgarian legislation. This certificate is a basis for granting a residence permit in Bulgaria, thereby encouraging foreign investment and contributing to the economic development of the country.
The issuance of such a certificate is carried out by the Ministry of Innovation and Growth and is intended for presentation to the bodies of the Ministry of Internal Affairs and the Ministry of Foreign Affairs as part of the process of applying for a visa or residence permit. It confirms that the investor has made investments in the capital of Bulgarian commercial companies, as a result of which fixed tangible assets were acquired and new jobs were created. In addition, the certificate also confirms the participation of the investor in the implementation of certified investment projects under the Investment Promotion Act.
The procedure for obtaining the certificate involves submitting an application to the Ministry of Innovation and Growth, after which an assessment of the submitted evidence of the investments made is carried out. The term for providing the certificate is up to one month from the receipt of the application, and the document has a validity period of six months from the date of issue. In case of disagreement with the issued act, the investor has the right to appeal in court in accordance with the Administrative Procedure Code of the Republic of Bulgaria.
This document is an important element of the procedure for obtaining a residence permit for investment in Bulgaria and serves as proof of the investor's commitment and contribution to the Bulgarian economy.
Investments in Bulgaria open the door to a variety of residency opportunities for foreign investors, offering both temporary and permanent residency depending on the size of the investment and the fulfillment of certain conditions. By issuing certificates for investments made, the Ministry of Innovation and Growth facilitates the process of applying for different types of residency, which underlines the commitment of the Bulgarian government to promote and support economic development by attracting foreign capital.
Foreigners who make investments in Bulgaria can apply for a temporary residence permit. Such permission is usually is issued for a period of one year renewable, provided that the investor continues to meet the investment requirements. Temporary residence is suitable for investors who are involved in short-term projects or wish to assess the business environment in Bulgaria before making more significant commitments.
Investments provide significant opportunities for obtaining a temporary residence permit in Bulgaria, and the country's legislation is designed to stimulate the economic participation of foreigners through investment activities. According to the Law on Foreigners in the Republic of Bulgaria, Art. 24, para. 1, item 19 and para. 1, item 20, certain investment actions may open the way for foreigners to claim a temporary residence permit, which can later lead to permanent residence.
One of the ways to obtain a temporary residence permit is through investments in real estate. Foreigners who have invested no less than 600 000 levain acquiring the right of ownership of real estate in Bulgaria, they can apply for such a permit. This amount must be paid in full and credited to an account with a Bulgarian licensed credit institution. In the event that the properties are acquired with borrowed funds, the outstanding part of the loan should not exceed 25% of the total value of the investment.
Another option for obtaining a temporary residence permit is related to investments in economic activities, especially in economically disadvantaged regions. An investment of not less thanBGN 250,000 in the capital of a Bulgarian commercial company, where the foreigner is a partner or shareholder with registered shares, holdingnot less than 50% of the capital. As a result, the investment should beAcquired new fixed tangible and intangible assets worth not less than BGN 250,000 and at least five jobs for Bulgarian citizens supported for the period of residence have been opened.
To obtain a temporary residence permit, applicants must have secured housing, compulsory health insurance and sufficient means of subsistence without resorting to the social assistance system. Also, the application process involves the provision of documents proving the investment made and the absence of a criminal past.
The application for a temporary residence permit is considered within 14 days of its submission,whereas, in the case of legal or factual complexity, this period may be extended. It is important that applicants are prepared to provide additional documents and information if required by the relevant authorities.
Through these regulations, Bulgaria seeks to attract and stimulate foreign investment, while offering investors the possibility of temporary and ultimately permanent residence in the country, opening doors to new economic and personal horizons.
Opportunities for permanent residence in Bulgaria by investment are diverse and cover a wide range of economic activities that can lead to granting this status to foreigners. According to the Law on Foreigners in the Republic of Bulgaria (Aliens in the Republic of Bulgaria), there are specific conditions and criteria that foreigners must meet in order to apply for permanent residence based on their investments in the country.
Foreigners who have invested in the country by contributing to the capital of a Bulgarian commercial company an amount of not less than BGN 2 million for the implementation of a priority investment project can apply for permanent residence. Such projects must be certified under the terms and procedure of the Investment Promotion Act and certified by the Ministry of Innovation and Growth.
Foreigners who have invested in the capital of a Bulgarian commercial company whose shares are not traded on a regulated market, an amount not less than BGN 6 million, are also entitled to permanent residence.
Foreigners who have made investments by acquiring shares or bonds of Bulgarian commercial companies traded on a regulated market or multilateral trading system in the Republic of Bulgaria, with a market value of not less than BGN 2 000 000, can obtain a permanent residence permit. These investments must be made in financial instruments that are assessed and regulated under Bulgarian legislation, thus contributing to the economic development of the country.
The right of permanent residence is granted to foreigners who have invested by acquiring rights under concession contracts on the territory of the Republic of Bulgaria, with a contract value of not less than BGN 1 000 000. Such investments enable foreigners to participate in the management and exploitation of natural resources or certain types of activities, which is possible thanks to the concession contracts regulated by Bulgarian legislation.
Foreigners who have invested in collective investment schemes originating in the Republic of Bulgaria with a value of not less than BGN 1 000 000, and provided that the net value of the assets of each scheme is not less than BGN 5 000 000, may obtain the right of permanent residence. These schemes must be licensed or authorized by the Financial Supervision Commission, and their investment strategy is mainly focused on investments in shares and/or bonds of Bulgarian companies.
Permanent residence is offered to foreigners who have invested in alternative investment funds established in the Republic of Bulgaria, with a value of not less than BGN 1,000,000. These funds must manage assets worth at least BGN 3,000,000 and be licensed or registered by the Financial Supervision Commission. The investment strategy of the funds should be focused mainly on investments in Bulgarian assets.
The right of permanent residence is granted to foreigners who carry out activities and are certified under the terms of the Investment Promotion Act, certified by the Ministry of Innovation and Growth.
Foreigners who have made an investment in the country by contributing no less than BGN 500,000 into the capital of a Bulgarian company, being a partner or shareholder with registered shares and owning not less than 50% of the capital of the company, can apply for permanent residence. As a result of the investment, new fixed tangible and intangible assets worth at least BGN 500,000 must be acquired and at least 10 jobs for Bulgarian citizens supported for the period of residence certified by the Ministry of Innovation and Growth have been opened.
The application for permanent residence is submitted in person to the Migration Directorate or the Migration Sector at the relevant regional directorate of the Ministry of Internal Affairs. The decision on the application is made within two months, and in complex cases this period may be extended. Investments and assets acquired as a result of investments cannot be used to secure loans for a certain period. Permanent residence requires the maintenance of the investment above the minimum required amount for a period of 5 years from the date of granting the right of residence.
Investments must be maintained at the required level, and in any change of circumstances, foreigners must declare these changes to the Bulgarian Investment Agency or the Ministry of Innovation and Growth. Such declarations help to ensure transparency and accountability in the process of managing investments and maintaining the right of permanent residence in Bulgaria.
Elan Consulting plays a key role in helping foreign investors navigate the process of applying for a residence permit in Bulgaria. With our expertise and understanding of local legislative frameworks, Elan Consulting can provide valuable guidance and support for the successful implementation of investment projects. They assist in the preparation of the necessary documentation, advise on the best investment strategies and provide updated information on the legislation that regulates residence permits in Bulgaria, thus facilitating the path of investors to a successful establishment in the country.
The rules and conditions for issuing a certificate of investment, as described in the information provided, include several key steps and requirements. These certificates are issued by the Ministry of Innovation and Growth (MIR) on the basis of various provisions of the Law on Foreigners in the Republic of Bulgaria (Aliens in the Republic of Bulgaria), the Regulations for the Implementation of the ZHRB (PCRB), as well as other current rules. This process is of particular importance for foreigners wishing to invest in Bulgaria, as the certificate serves as proof to the competent authorities (Ministry of Interior or Ministry of Interior and Ministry of Interior) when applying for a visa or residence permit.
The process of issuing a certificate of investment begins with the submission of an application to the Ministry of Innovation and Growth (MIR). The applicant has the opportunity to submit his application in three different ways: directly at the MIR registry office, electronically or through a courier/licensed postal operator. The application may be drawn up according to an established template or in free text, as long as it contains all the necessary information. It is important to note that all documents accompanying the application must be in Bulgarianor translated into Bulgarian, and can be submitted both in hard copy and in electronic format. About the issuance of the certificate no fees are collected, and the certificate itself is valid for a period of 6 months. The procedure also includes verification of the submitted documents and circumstances by the MIR, and the applicant may be notified of the need for additional documents or elimination of irregularities. Operational communication shall be carried out electronically or at an address specified by the applicant.
The investment certificate is issued within 30 daysfrom the submission of the application or from the rectification of any irregularities. In cases where the verification process is more complex and requires additional time, this deadline may be extended for another 10 working days. It is important to emphasize that the term for issuing the certificate is consistent with the need to carefully check all documents and circumstances provided, while striving for efficiency and speed in servicing applicants.
In case of refusal to issue a certificate of investment, the applicant has the right to appeal. The decision to refusecan be appealed in accordance with the Code of Administrative Procedure, and the applicant should familiarize himself with the relevant appeal procedures and prepare the necessary documentation. The appeal provides an opportunity for the applicant to present his arguments before a competent court or administrative authority, thereby guaranteeing the right to a fair trial and protection of the applicant's investment intentions.
To successfully apply for a Certificate of Investment, the applicant must submit an application to the Ministry of Innovation and Growth (MIR) accompanied by the following documents:
In addition, the applicant must submit:
For proof of compliance with the investment requirements, the presentation of:
These documents must be submitted in Bulgarian or translated into Bulgarian in order to be accepted by MIR. This process is extremely important for providing a legal basis for foreigners' investments in Bulgaria and for facilitating their business development in the country.
For the successful issuance of certificates under Article 25, paragraph 1, item 7 of the Law on Foreigners in the Republic of Bulgaria, related to investments by depositing a certain amount into the capital of a Bulgarian company, the applicant must follow a specific procedure and submit a specific set of documents. First of all, the application for issuing a certificate is submitted according to the template provided for in Annex No. 2 to these Rules. It is important to note that applications under this article are not considered before a certificate under Art. 20, para. 1, item 1 of the Investment Promotion Act (IPA) has been issued for a priority investment project.
The applicant must attach the following documents to the application:
In order to prove compliance with the requirements of Article 25, paragraph 1, item 7 of the ZCRB, the applicant shall submit a certificate from a bank showing that he has contributed to the capital of a commercial company with a certificate for a priority investment project an amount not less than BGN 2 000 000. This document may not be submitted if it is already available on the company's account in the Commercial Register or in the MIR and is current.
Also, to establish compliance with the requirements, a criminal or police registration document issued under the legislation of the country of nationality, origin or habitual residence of the applicant shall be submitted. In the event that such a document is not issued in the foreign country concerned or it does not include all the necessary cases, a declaration of legal significance according to the legislation of the country in which the applicant is established shall be submitted.
If the declaration has no legal significance under national law, the foreigner shall submit a declaration made to a judicial or administrative authority, a notary or other competent authority in the State where he is established. In cases where the foreigner does not reside in Bulgaria for any other reason and cannot register with the NRA or in a municipality, for the issuance of a document and for carrying out an official check, this circumstance and the absence of monetary obligations are declared in the application.
These documents are crucial for the successful application and receipt of an investment certificate, facilitating the process of verification and evaluation of the application by the competent authorities.
Investments in start-ups, as well as those in class “A” and “B” class, are significant drivers for economic development and innovation in the country. According to Art. 25c of the Law on Foreigners in the Republic of Bulgaria, foreigners engaged in activities of implementation and/or maintenance of such investments may obtain a permanent residence permit subject to certain conditions and criteria. It is important to emphasize that these investments must be certified under the terms of the Investment Promotion Act (IPA), which includes obtaining a certificate for class “A”, class “B” or for a priority investment project.
A foreigner engaged in a commercial company with such a certified investment must meet one of the following conditions: be a partner or shareholder with registered shares holding at least 50% of the capital of the company; be a representative of the company or a prosecutor registered in the commercial register; or be employed under an employment contract to perform a key and/or a control function in the main activity of the entity related to the investment.
To certify the fulfillment of these requirements, the Ministry of Innovation and Growth issues a special certificate after motivation by the Bulgarian commercial company about the need for the foreigner to reside in the country for the purposes of the investment. It is important that the company immediately informs the Ministry of Innovation and Growth upon termination of the relationship with the respective natural person.
The determination of compliance with the requirements is based on the entries in the Commercial Register and the submission of a number of documents, including annual financial statements, statements on the costs of acquisition of fixed assets certified by a registered auditor, and other reports and documents certifying the commissioning of the investment. These documents must be submitted to the MIR within the deadlines set by the legislation in order to ensure the correct and timely issuance of certificates of permanent residence on the basis of the implementation of the investment project.
In the case of investments in startups, class “A” and class “B” investments, the process of issuing certificates for foreigners, pursuant to Art. 25, para. 1, item 13 of the Law on Foreigners in the Republic of Bulgaria (Aliens in the Republic of Bulgaria), is strictly regulated and includes specific requirements. This process is intended for Bulgarian commercial companies that have already received a certificate for investment class “A”, class “B” or for a priority investment project under Art. 20, para. 1, item 1 of the Investment Promotion Act (IPA). Applications for such certificates may be submitted only within the validity period of the issued certificate and within the minimum period for maintaining the investment determined in accordance with the requirements of the ZNI.
To apply for the issuance of a certificate, investor companies must submit an application according to the template provided for in Appendix No. 3 to these Rules. The accompanying documents to the application include:
In addition, the investor company must indicate the persons who will apply for obtaining a permanent residence permit and justify the need for their residence in the country for the implementation and maintenance of the investment. This requirement underlines the importance of the direct link between the investment and the need for the presence of foreigners in Bulgaria.
The documents required to prove the quality of the named foreigners include entries in the Commercial Register or a copy of the shareholders' book, evidence of the company's representative or prosecutor, as well as a copy of an employment contract for persons engaged in key activities related to the investment.
This process is designed to ensure that investments made by foreigners in Bulgarian startups or in companies with class “A” and “B” investments are in accordance with the national interests and economic development goals of the country.
Trusting Elan Consulting to issue a residence permit to a foreigner by investment in Bulgaria, clients benefit from a wide range of professional services and expertise. Elan Consulting offers in-depth knowledge of Bulgarian legislation on investment and immigration, which is essential to successfully navigate the processes of obtaining a residence permit.
Expertise and specializationin the field of immigration law and investments in Bulgaria are among the main advantages of Elan Consulting. They have a team of qualified professionals who are fully aware of the latest changes in legislation and can offer up-to-date and efficient solutions.
Individual approach to each clientis another important aspect that distinguishes Elan Consulting. Understanding that each investment and each investment intention is unique leads to the offering of personalized services that meet the specific needs and goals of clients.
Full support and consultationat each stage of the process, ensure that clients are well informed of all the steps necessary to successfully complete the procedure for obtaining an investment residence permit. Elan Consulting works closely with its clients to ensure that all documents are correctly prepared and submitted, which significantly increases the chances of successful obtaining the permit.
Many years of experience and proven successhelping foreign investors to obtain a residence permit in Bulgaria confirm the reputation of Elan Consulting as a reliable and preferred partner. Their experience allows clients to benefit from knowledge and strategies that have proven themselves over time, ensuring the successful passage through all administrative procedures.
In conclusion, Elan Consulting is a proven partner for foreign investors looking to settle in Bulgaria. Their expertise and commitment to the success of the client provide a solid foundation for the successful passage through the process of issuing a residence permit, which is key to the development of the business and personal life of the foreigner in Bulgaria.
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To apply for a residence permit by investment in Bulgaria, a photocopy of a regular document for foreign travel, a photocopy of an identity document issued by the Ministry of Interior (if applicable), a declaration of origin of funds and a CV of the investor are required. Depending on the type of investment, additional documents may also be required, such as a certificate from a bank for an amount contributed to the capital of a company or evidence of jobs created.
Foreigners wishing to obtain a residence permit must carry out an activity of implementation and/or maintenance of an investment that has received a certificate for Class A, Class B, or for a priority investment project. They must be partners, shareholders with a significant share of the capital, representing the company, or hired to perform key functions within the framework of the investment project.
Elan Consulting offers extensive experience and professionalism in the field of immigration law and investments in Bulgaria. With an individual approach to each client, expertise and constant support throughout the process, they ensure the highest degree of success for their clients. Their specialization and years of experience make it easy to navigate the complex procedures for obtaining a residence permit, offering reliability and trust.
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