Bulgaria will offer permanent residency to foreigners who buy property worth at least EUR 307,000

2013-02-14   |  www.novinite.com, February 13, 2013

Bulgaria has passed a law that will ease even further the process of granting citizenship to foreign investors in a bid to boost the country's ailing economy.

Bulgaria will be offering citizenship to foreigners, who come from non EU states, ready to invest at least BGN 500,000 (EUR 256,000) and create ten jobs for Bulgarians, under amendments to the Investment Encouragement Act adopted conclusively on Tuesday by parliament in response to the presidential veto at the end of last year.

Under the amendments, the candidates would have to invest in a Bulgarian company involved in a high-priority investment project in industry, infrastructure, transport or tourism. The investors will not be required to have had residence status in the country for at least one year.

Parliament backed the proposal by the right-wing Blue Coalition and lowered the investment amount thresholds for foreign investors in poorer regions. These will be granted permanent residency status and Bulgarian citizenship if they pour BGN 250 000 (EUR 128,000) and hire five Bulgarians in regions with high unemployment.

The purchase of real estate, worth at least BGN 600,000 (EUR 307,000), is another way to gain permanent residency status, according to the new law.

The draft legislation provided permanent residency status to a foreigner who has invested over BGN 1 M (EUR 512,820) in public companies or joint ventures or has deposited the money at a Bulgarian bank for a period of five years.

Bulgaria already is handing out passports to ethnic Bulgarians outside its borders, the main beneficiaries being citizens of Macedonia, Serbia, Ukraine and Turkey.

  Read more news

Share
Properties in Bansko
Buy your own property in the top ski resort of Bansko! An all-year-round resort suitable for winter and summer tourism with the best prices in Europe! Prices starting from as low as 10,000 Euros!
See More
Ski Chalets in the Bulgarian Ski Resorts
Enjoy your holidays in your own chalet in one of the top Bulgarian ski resorts! Bargain prices from as low as € 20,000! Suitable for year-round holiday home or for permanent living. Contact us today!
See More

More News

Press & Media
BULGARIAN PROPERTIES Participated in Imoti.net Business Breakfast

The final Business Breakfast for the year, organized by the property portal imoti.net, was held at Grand Hotel Sofia on December 04th 2019.

More than 150 representatives of the leading real estate agencies, construction companies, organizations and local authorities discussed the state of the property market in the capital and the future development of the city.
...

06 December, 2019
Company news
BULGARIAN PROPERTIES Agents of December

The last month of the year is time to look back and take account of the achievements made. For us 2019 was one of the most successful years in the history of BULGARIAN PROPERTIES. We hope it was such a year for you too!

We became the Agency of the Year and reconfirmed the title with an enviable sales growth, greater than our bravest forecasts. We have managed to introduce a number o...

06 December, 2019
latest news
NYT: Skiing in Bulgaria? The Surprising Lure of the Balkans


Samokov, BULGARIA — One of the special things about the Cherni Iskar valley, in the shadow of the Rila Mountains of Bulgaria, is the population of storks that descend upon it every spring.

They are easy to spot, not only because they’re enormous and unusual, but also because they make no effort at camouflaging their nests. On many of the highest points in the s...

27 November, 2019
Press & Media
BULGARIAN PROPERTIES on Bloomberg TV: Bulgarian real estate market in 2020

On 14th of November Polina Stoykova MRICS, the Managing Director of Bulgarian Properties, was a guest in the program "In Development" with Veronica Denizova on Bloomberg TV. What awaits the Bulgarian capital real estate market in 2020? See what she said by the subject:

"We cannot speak of a bubble on the housing market in Sofia, as in this cycle it is driven by fundamental factors s...

15 November, 2019

REQUEST DETAILS