Sat, Feb 11 2012

Bulgaria increases fee for permanent residence for foreign investors to 750 000 euro

Fri, Feb 27 2009 18:31 CET 5314 Views 7 Comments
Bulgaria increases fee for permanent residence for foreign investors to 750 000 euro

Photo: Julia Lazarova

There are a number of ways to get permanent residence in Bulgaria, one being by being a foreign investor – and on February 26 2009, the Cabinet decided to increase the fee for this category from $500 000 to 750 000 euro.

The Cabinet said that it had approved amendments to the Foreigners Act to this effect, in the light of the development of the Bulgarian economy. The Cabinet said that it had agreed that the provision requiring an applicant for permanent residence to have spent six months and one day in the country in the previous year would be scrapped.

Also approved was a change in the term limit of a ban on a foreigner declared persona non grata, reducing this from 10 to five years. The ban may be extended if the person is deemed a serious threat to national security.

The Cabinet said that it would redefine the meaning of "foreigner". Anomalies have arisen among laws, in particular because after Bulgaria’s accession to the European Union, EU citizens were no longer deemed to be foreigners. Not all laws have been redrafted to reflect this.

According to an advisory by the Invest Bulgaria Agency, A permanent residence permit entitles the holder to reside in the country for an indefinite duration.

It may be issued to a person of Bulgarian descent, to to a person who has contracted a civil marriage with a Bulgarian citizen or with a foreigner who has been granted a permanent residence permit, two years after the marriage has been contracted; to children of a Bulgarian citizen or of a permanently resident foreigner, who have not attained the age of 18 years; to persons who have resided within the territory of the country legally and continuously during the past preceding five years (or, if admitted for full-time study at licensed educational establishments, during the last preceding two and a half years).

The final category is the one changed by the February 26 Cabinet decision – upping the fee to 750 000 euro.

Permanent residence permits are issued by the Ministry of Interior.

The required documents are submitted at the foreigners administrative control services with the competent Regional Police Directorate not later than 60 days prior to the expiry of the duration of the authorised residence.

Applicants have to present a completed application form, passport or another substitute foreign-travel document; receipt of stamp duty paid; curriculum vitae; two photographs of the applicant; documents certifying the existence of grounds for permanent residence.

The permit is issued within two months after submission of the documents, according to the advisory statement.

The foreigner must be able at any time to present, when requested to do so by the relevant competent authorities, a valid passport or a residence permit for the Republic of Bulgaria. A driving licence cannot serve for foreigner's identification.

Citizens of the EU, including the nationals of Iceland, Liechtenstein, Norway and Switzerland, may enter Bulgaria if they hold an identity card or a passport.

Their family members, unless citizens of the EU, need a passport and, depending on their nationality, also a visa, unless they hold a residence card entitling them to reside within the territory of a EU member state.

According to the Supplementary Provisions of the European Union Citizens and Members of Their Families Entry and Residence in and Departure from the Republic of Bulgaria Act, the following persons qualify as family members: a person who has married or has an actual cohabitation with a citizen of the EU,  a descendant of a citizen of the European Union who has not fulfilled twenty-one years of age is a person dependent on him, including the direct inheritants of the spouse; ascendants, who are maintained by the citizen of the European Union or by his/her spouse.

European Union citizens, who wish to reside in Bulgaria for more than 90 days, are issued a long-term or permanent residence certificate by the National Police Service. Long-term residence is for a maximum period of five years.

 

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Comments

AnonymousSHARAD PATELMon, Mar 02 2009 13:06 CET

This comment has been removed by the moderator because it contained

Anonymous SHARAD PATEL Mon, Mar 02 2009 13:06 CET

I am US citizen ager 64 and have visited BG twice 2003/2007 love it. Have wonderful friends. People I found helpful and friendly. My stay was also pleasant and meorable. I wish to live there nd have not given up hope. With new changes on tariffs and fees it now seems imposible. Make it simple, Make it easy. I do understand the National Security and I have no problem with it. Thanks sharad208@hotmail.com

Anonymous Geoff Sun, Mar 01 2009 21:29 CET

I have been travelling to Bulgaria for a long time and i must admit that i have to agree with most of these comments.. i do love the country but will actually add my own comments, what about the stray dogs in sofia, the enormous potholes everywhere, the infamous SOT security scam....shall i go on?

Anonymous CatWoman Sun, Mar 01 2009 17:13 CET

I recently left Bulgaria after 5 years. I will underline Pete comments where YES, Bulgarians are welcoming, the country is amazing by its diversity BUT the POLITICAL & BUSINESS world in Bulgaria is an abyss of corruption and lies.Those so called BUSINESS MAN, centralist and arrogant misunderstand EDUCATION and DIPLOMA...and they absolutly have no sense of SOCIAL RESPONSABILITY or simply HONESTY, INTEGRITY.
YES I am bitter! Because of what I lived, because of what I experieced, because of what I've seen...and I do not see a way out in long time...

Anonymous Maria Sun, Mar 01 2009 09:30 CET

You people really know how to attract investors into your country , this is another reason why foreign investors are leaving Bulgaria in favor of the rest of Europe.

Anonymous jeff Sat, Feb 28 2009 16:03 CET

Dear Mr arther Connen and Peter please read the article again, is said foreign investor meaning a company running a business in BG if you are jest buying a property it should not apply to you. But i would check with the visa office, I have a 5 year temporary vise cost a few levs

Anonymous Arthur Connen Sat, Feb 28 2009 12:05 CET

you must be joking - what kind of clowns do you have in charge there?
i've just struck buying a black sea resort property off my to-do list.

Anonymous Pete Sat, Feb 28 2009 00:22 CET

It is good to try finding additional sources of revenue for the budget but I doubt if there will be a line for Bulgarian "green cards" at price of $1000,000. First, the country s loosing it's magnetism because of too much problems. What I mean - Yes, Bulgaria is very beautiful, yes, the people are very nice and the hospitality is reaching the sky. But, Sofia is the dirtiest place in the world. The crime is also reaching the sky, because virtually you can't expect police protection any where. I am a Bulgarian but I prefer my simple green card [...]

Read the full comment in Florida than a golden one in Bulgaria.


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