Contacts
0

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 the Bulgarian Beach Resorts!
Check our selection of properties on the Bulgarian Black Sea Coast! Attractive prices starting from just 15,000 Euros for a furnished studio! Regular flights to Burgas and Varna international airports. Perfect for frequent visits, summer holidays and more.
See More
Properties with 360-degree virtual tours
Feel the unique atmosphere of Bulgarian properties with the virtual tours we offer! At any time, with just one click, you can travel to your dream home, with no need for appointments and trips.

The virtual tours are taken personally by our team and are with guaranteed authenticity. We show you every detail of the property, just like being live in there!
See More

More News

Company news
BULGARIAN PROPERTIES Agents of March 2021

It seems that we are entering another strong month for the Bulgarian housing market.

Therefore, before we fill our schedules with tasks, meetings and viewing appointments, let's pay due attention to the AGENTS OF THE MONTH OF MARCH!

The mild winter provided suitable conditions for increased activity on the real estate market, active viewings, progress in the construct...

04 March, 2021
Press & Media
Pandemic increased demand for larger apartments in Bulgaria

The Corona crisis has intensified the demand for larger homes and houses with courtyards in Bulgaria. In the last quarter of 2020 the purchased two-room apartments in Sofia are more than one-room, and the four-room dwellings have a share of 11%. By comparison, in 2019, 60 percent of the homes purchased were two-room and 37 percent were three-room, while the four-room were barely present in buyer d...

22 February, 2021
Press & Media
Mihail Chobanov on NOVA TV about vacation homes during the pandemic

Mihail Chobanov, owner of BULGARIAN PROPERTIES, was a guest in the morning block of NOVA TV "Wake up" on Saturday, 20.02.2021. He was invited to comment on the current trend of increased demand for properties on the Bulgarian Black Sea coast and the holiday property prices.

'Bulgarians have been the main driving force on the holiday property market by the sea over the ...

20 February, 2021
Press & Media
Coronavirus pandemic sends up demand for country houses

In 2020 the purchases of houses in the countryside have increased by 20 percent in Bulgaria. The interest in rural properties is not new to the home market, but is growing because of the pandemic, and real estate brokers expect the trend to persist in 2021 and coming years, informs Trud daily.

Because of the months spent at home, more and more people are considering the possibility ...

17 February, 2021

REQUEST DETAILS