Bulgarian law allows foreign nationals who have acquired real estate above a certain statutory value to obtain extended residence. This ground combines a property investment with a legal status in the country.
What the law provides
Under Bulgarian law, an extended residence permit may be granted to a foreign national who has invested in acquiring real estate in Bulgaria with a value of no less than BGN 600,000 (approximately EUR 306,000). Alternatively, the investment may be made through a Bulgarian company in which the foreign national holds more than 50% of the capital, provided that the company has acquired property of the same value.
Requirements regarding payment and financing
At the time the application is filed, the amount must be fully paid through a licensed Bulgarian credit institution. If the property was acquired with borrowed funds, the outstanding portion of the loan must not exceed 25 per cent.
Documents required
In addition to the standard documents (passport, health insurance, criminal record, proof of means of subsistence), the procedure also requires:
- a bank certificate confirming the transfer for the acquisition of the property;
- a notary deed for the ownership;
- evidence of the source of funds, important for AML purposes.
The procedure
The procedure includes preparing the full set of documents, applying for a Visa D at a Bulgarian consulate, and finally filing an application for extended residence with the Migration Directorate. The permit is usually issued for one year with annual renewal, for as long as the investment is maintained.
Points to keep in mind
The Bulgarian Constitution contains restrictions on the acquisition of land by foreigners — so the structure of the transaction matters. We recommend legal due diligence on the property before the transaction, to avoid encumbrances, ownership issues or zoning obstacles that would undermine the residence ground.
How we can help
This ground combines three different processes — a real estate transaction, due diligence and the migration procedure. We coordinate the whole process so that they run in parallel and consistently. Contact us for a consultation.
Note
This article is for general information only and does not constitute legal advice. Legislation changes over time — for current, binding guidance on your case, please contact us.