Buying property is one of the routes foreign nationals favour when they want to settle in Bulgaria and get a residence permit. Bulgarian law lets a foreigner obtain extended residence by investing in real estate worth more than BGN 600,000 (approximately EUR 307,000), provided certain statutory requirements are met.
Below we cover the conditions for applying, the documents needed, the benefits of the regime and the main points an investor should weigh when planning an investment and a move to Bulgaria.
The legal basis
A foreign national who has put at least BGN 600,000 (approximately EUR 307,000) into Bulgarian real estate can be granted an extended residence permit under Bulgarian law. A Bulgarian company may make the purchase instead, provided the foreign national owns over 50% of its capital and the company buys property of equal value.
How the procedure runs
First the title to the property is checked and the property is bought. Then the documents for a type D visa application at a Bulgarian consulate abroad are prepared, and the procedure ends with an application for extended residence filed with the Migration Directorate. The permit normally runs for one year and is renewed every year while the investment stays in place.
Payment and financing conditions
The price must be paid in full by the date the application is filed. Where the property was bought with borrowed money, no more than 25 per cent of the loan may remain unpaid.
Required documents
Besides the standard documents (passport, life insurance, criminal record certificate, proof of means of subsistence), you will need to supply:
- a statement from a Bulgarian bank that the money for buying the property was transferred;
- a notarial deed proving ownership.
Our assistance
We help you find a suitable property, check its title and organise the paperwork for the purchase. Afterwards we gather and assemble the documents for the type D visa interview and for the residence procedure.
Further reading
From our practice
Common questions
- What is the lowest property price that supports a residence permit?
- BGN 600,000 (approximately EUR 307,000) is the lowest purchase price. Payment in full has to go through a bank transfer; cash does not count for residence purposes.
- Can relatives obtain residence at the same time as the buyer?
- Yes. A spouse and minor children may receive residence permits on the ground of family reunification, and they need make no investment of their own.
- Does property ownership in Bulgaria entitle you to reside there?
- Yes. Under Art. 24(1)(18) of the Foreigners in Bulgaria Act, a third-country national who purchases property of at least BGN 600,000 in value may be given a temporary residence permit.
Please note
This article gives general information and is not legal advice. The legislation changes, so for current and binding guidance on your own case, please contact us.
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