How to Obtain Residency in Bulgaria: The Complete Guide2023.

This article looks at the process of obtaining a residence permit in Bulgaria, the requirements for it and the benefits you get by meeting them. Second residence can change your life, and a residence permit in Bulgaria gives you more value for your money and access to Europe. Second citizenship opens up new investment markets, can help you legally reduce your tax payments and, as a step towards citizenship, strengthen your passport portfolio. We show high net worth individuals the path to permanent residence and much more in a comprehensive action plan.

Country overview Bulgaria

Bulgaria, one of the oldest states in Europe, has existed since the 7th century. Its official name is the Republic of Bulgaria and it borders Romania, Serbia, North Macedonia, Greece and Turkey. It is an Eastern Balkan country with a population of 6.687 million. Sofia, the capital of Bulgaria, is located in the west of the country. Bulgarian is the native language, and after Russian, English is the second most widely spoken foreign language in Bulgaria.

Bulgaria - climate

You can enjoy both clean beaches and ski slopes in Bulgaria. The country has two climatic regions: a more continental climate in the north and a Mediterranean climate in the south. Temperatures average 73°F (23°C) in the summer and 37°F(3°C) in the winter.

Advantages of a Bulgarian residence permit

Bulgaria is an affordable country with a skilled labor force, which attracts both investors and entrepreneurs. But what is most attractive is that the country has a flat rate of income tax and corporate income tax of only 10%. The country joined the EU in 2007. Thus, by obtaining a residence permit in Bulgaria, you get the opportunity to become a European citizen later on.

Bulgarian citizenship

Although quick citizenship based on investment is no longer possible in Bulgaria, you can become a Bulgarian citizen by obtaining permanent residence in Bulgaria. Spend five years on the basis of an extended residence permit to obtain permanent residence in Bulgaria. Spend another five years on the basis of this Bulgarian identity card and you will be able to apply for Bulgarian citizenship. The Bulgarian Citizenship Act grants this privileged position to non-EU citizens. For foreign investors, you will have to wait, as becoming a permanent resident is a step on the ladder that can lead to Bulgarian citizenship.

Requirements for obtaining a Bulgarian residence permit

The Ministry of Foreign Affairs offers three types of visas for foreign nationals to reside in Bulgaria. Visa A allows short trips through Bulgaria on the way to your final destination. The C visa covers those who intend to visit Bulgaria for a short period of time. However, you will be most interested in the D visa. It will allow you to reside in the country for an extended period of time.

Permanent residence in Bulgaria

This temporary residence permit in Bulgaria is also known as an extended residence permit.

You need to attach the following documents for the D visa application:

• a copy of the first page of your valid passport
• a copy of the latest Bulgarian and Schengen visas or visas for the UK and the USA, if available
• color photo 3.5 cm x 4.5 cm on a light background
• medical insurance valid for EU member states for the entire duration of the trip, covering all expenses for repatriation, as well as urgent medical assistance and emergency hospitalization for the period specified in the visa, for an amount of at least €30,000
• transport tickets (original and copy) or confirmation of ticket booking or funds
• a copy of the vehicle's technical passport that you are traveling in

The embassy fee for processing a D visa application is waived for:

• foreign citizens who are under six years old when applying for a visa
• family members of Bulgarian citizens and EU citizens.

Extended residence is available if you are a foreign citizen who has successfully applied for a D-type visa. Family members must also have a D visa. To obtain temporary residence for up to one year, you need to provide more than just a D visa. After receiving the D visa at the nearest Bulgarian embassy or consulate, you must also commit to one of the following actions:

• open a trade representative office and promote your business in Bulgaria
• Create a company and establish ten jobs for Bulgarian citizens.
• invest in real estate through a Bulgarian company for an amount of at least €312,000

These residence permits for you and your family require you to live in the country for at least 183 days. After this period, you will be considered a tax resident of Bulgaria.

Permanent residence in Bulgaria

Extended residence can be renewed four times, and after five years of temporary residence in the country, you can obtain permanent residency in Bulgaria. However, there are options for obtaining permanent residency without extending temporary residence. You can bypass temporary residence in Bulgaria through the nearest Bulgarian embassy or consulate by fulfilling one of the following requirements:

• Create a company and invest at least 500,000 Bulgarian levs (approximately €256,000) in long-term assets, and create ten positions for Bulgarian citizens.
• Invest a minimum amount of 6,000,000 Bulgarian levs (approximately €3,068,000) in the capital of a Bulgarian company whose shares are not traded on a regulated market.

Title of Bulgarian residence

Depending on the country you are coming from, the maximum period of stay in Bulgaria as a tourist is 90 days. After that, Bulgarian law requires you to apply for temporary or permanent residency in order to remain in Bulgaria.

A temporary Bulgarian identity card can become yours if you:

• Will you open a trade representative office?
• You will create Bulgarian companies that create ten positions for local citizens.
• Invest a minimum of €312,000 in real estate through a Bulgarian company.

If permanent residency is your immediate goal, you don't need to worry about setting up a representative office. Instead, get straight to the point by starting a company and investing at least 500,000 Bulgarian levs (approximately €256,000) in long-term assets and creating ten positions for local citizens, or invest a minimum of 6,000,000 Bulgarian levs (approximately €3,068,000) in the capital of a Bulgarian company whose shares are not traded on a regulated market.

The Bulgarian identity card, confirming your permanent residence in the country, is a useful Plan B. You are entitled to multiple entries into Bulgaria and can relocate your family to the country.

Completion

Do you want to expand your opportunities? Are you looking to open an office in EU countries or outside the EU? In that case, Nomad Capitalist can assist you with all matters related to representation and permanent residency in EU countries and beyond. We can help you solve your offshore puzzle and relocate to where you are treated best.

Frequently Asked Questions about Bulgarian Residency

Is it possible to just move to Bulgaria? If you are an EU citizen, then yes, you can. But everyone else planning to move to Bulgaria must complete various formalities depending on their nationality. Non-EU citizens, for example, need to obtain short-term visitor visas and long-term residence permits for extended stays and permanent residency.

How to obtain a residence permit in Bulgaria? To gain tax residency in Bulgaria, you must stay in the country for 183 days. However, according to Bulgarian law, you can also obtain tax residency in Bulgaria if you can prove that the center of your vital interests is located in the country.

Can a US citizen live in Bulgaria? US citizens need visas if they want to visit Bulgaria.