Bulgarian Permanent Residence by Investment in a Company

Private Clients Insights, Citizenship by Investment

Owning or registering a company in Bulgaria does not, by itself, give a foreign national the right to reside in the country. However, investment in a Bulgarian company is one of a limited number of statutory routes that can lead to Bulgarian permanent residence (PR), and ultimately to a pathway towards citizenship by naturalisation. For a non-EU investor, a contribution of approximately EUR 255,646  into the capital of a Bulgarian company can be a comparatively low-cost way of securing long-term residence in an EU member state.

This route was introduced into Bulgarian immigration law in 2013 and is set out in Art. 25, para. 1, item 16 of the Foreigners in the Republic of Bulgaria Act. Between 2014 and 2019, roughly 50 applicants qualified on this basis.

Residence by Investment in Company: Key facts

• Legal basis: Art. 25, para. 1, item 16, Foreigners in the Republic of Bulgaria Act (ЗЧРБ)
• Minimum investment: EUR 255,646 into the capital of a Bulgarian company
• Shareholding: At least 50% of the company’s capital, as partner or registered shareholder
• Resulting assets: New long-term tangible and intangible assets worth at least EUR 255,646 
• Jobs: At least 10 jobs for Bulgarian citizens, maintained for the period of residence
• Certifying authority: Ministry of Innovation and Growth (certification typically within 30 days)
• Outcome: Permanent Residence – not direct citizenship

Establishing a Company is not the same as obtaining Permanent Residence

It is a common misconception that incorporating a company or holding shares in Bulgaria confers a residence right. It does not. Ordinary commercial activity carries no automatic immigration status. The investment route described here is a specific exception created by statute, and it qualifies only where each of the conditions below is satisfied and certified by the Ministry of Innovation and Growth.

The Legal Basis for Permanent Residence: Art. 25, para. 1, item 16

Under Art. 25, para. 1, item 16 of the Foreigners in the Republic of Bulgaria Act, Permanent Residence may be granted to a foreign national who has invested in Bulgaria by paying at least EUR 255,646  into the capital of a Bulgarian commercial company, where that person is a partner or holder of registered shares owning at least 50% of the company’s capital, and where, as a result of the investment, new long-term tangible and intangible assets worth at least EUR 255,646  have been acquired and at least 10 jobs for Bulgarian citizens have been created and maintained for the period of residence. The investment is certified by the Ministry of Innovation and Growth, which issues its certificate after the company has justified the investor’s need to reside in Bulgaria in order to implement and maintain the investment.

The provision (new — SG 16/2013; amended SG 14/2015; supplemented SG 21/2021; amended SG 22/2022, in force 18.03.2022) reads, in the original Bulgarian:

„…извършили инвестиция в страната чрез внасяне в капитала на българско търговско дружество на не по-малко от 500 000 лв., като чужденецът е съдружник или акционер с поименни акции и притежава не по-малко от 50 на сто от капитала на дружеството и в резултат на вложението са придобити нови дълготрайни материални и нематериални активи на стойност не по-малко от 500 000 лв. и са разкрити най-малко 10 работни места за български граждани, поддържани за срока на пребиваването, удостоверено от Министерството на иновациите и растежа…“

The Qualifying Investment for Bulgarian Permanent Residence

To qualify, the investor must:

1. pay at least approx. EUR 255,646 into the capital of a Bulgarian company; and
2. be a partner or registered shareholder holding no less than 50% of the company’s capital.

As a result of that investment, the company must:

1. acquire new long-term tangible and intangible assets worth at least EUR 255,646 ; and
2. create at least 10 jobs for Bulgarian citizens, maintained throughout the residence period.

New Assets required for Permanent Residence by Investment

The Ministry of Innovation and Growth takes the position that the qualifying assets must be newly acquired long-term tangible and intangible assets, purchased after the share subscription, rather than pre-existing assets contributed in kind or already held. Expenditure on those new assets must follow the capital contribution in time and be certified by an auditor. This is one of the most frequently overlooked aspects of the route, and getting it wrong can cause certification to fail.

Practical point: because some assets depreciate over time, the recorded value can fall below the EUR 255,646 threshold during the residence period. Investors should plan from the outset how the asset value will be maintained, for example by choosing asset classes that hold their value, so that the investment continues to satisfy the requirement for as long as residence is held.

The Employment Requirement for Investment-based Permanent Residence

The company must create and maintain at least 10 full-time jobs for Bulgarian citizens for the duration of the foreign national’s residence. These must be genuine, contracted positions, and compliance is verifiable through the Bulgarian revenue and social-security records.

Certification by the Ministry of Innovation and Growth

The Ministry of Innovation and Growth certifies the investment for residence purposes. The company must demonstrate the investor’s need to reside in Bulgaria and that the investment has been completed and will be maintained. Certification typically takes around 30 days from application. The required documents vary with the type of investment, but generally include:

1. a document certifying the value and type of the investment, reporting expenditure on the new long-term tangible or intangible assets acquired after the share subscription, certified by an auditor;
2. a document certifying the employment of 10 Bulgarian citizens;
3. a declaration of the source of funds;
4. a copy of the applicant’s passport; and
5. the applicant’s CV.

There is no State fee for the certification procedure itself, although other costs — company formation, audit and professional fees — will apply.

From Permanent Residence towards Citizenship

It is important to be clear about what this route does and does not deliver. It leads to permanent residence, not directly to a Bulgarian passport. Bulgaria’s fast-track citizenship-by-investment scheme was abolished in 2022, so there is no longer any route to citizenship purely in exchange for an investment. A permanent resident may, in time, apply for Bulgarian citizenship through general naturalisation, which generally requires around five years of permanent residence together with separate conditions, including Bulgarian language proficiency. Citizenship is therefore a longer-term prospect that depends on continued compliance and a separate application.

A Note on the Euro

Bulgaria adopted the euro on 1 January 2026 and the euro has been the sole legal currency since 1 February 2026. The statutory threshold is expressed in the law as BGN 500,000; at the fixed conversion rate of 1.95583 BGN per euro, this equals approximately EUR 255,646. We state figures in euro for convenience, with the lev figure from the statute alongside.

Advantages of this Route

• The investor can choose the project and business form that best suits their objectives.
• A single-member limited liability company can usually be registered within a week.
• The choice of assets is largely at the investor’s discretion, provided they are long-term and newly acquired.
• The investment threshold is relatively low for a route to EU PR.

How NBLO can Assist

Bulgarian Permanent Residence by Investment in a Company requires careful coordination of the investment, company documents, asset acquisition, employment records and Ministry certification. New Balkans Law Office (NBLO) can assist with the entire process, including advising on the steps and documents for:

1. obtaining the certificate for the investment from the Ministry of Innovation and Growth;
2. applying for a type D visa;
3. applying for a permanent residence permit and obtaining a Bulgarian ID card; and
4. in due course, applying for Bulgarian citizenship by naturalisation and obtaining a Bulgarian passport.

FAQ

Can I obtain Bulgarian residence simply by setting up a company?

No. Forming or owning a Bulgarian company does not, in itself, grant any immigration status. Residence based on investment in a company is a specific statutory route under Art. 25, para. 1, item 16 of the Foreigners in the Republic of Bulgaria Act, with its own thresholds.

How much must I invest?

At least € 255,646 into the capital of a Bulgarian company, holding at least 50% of the capital, with new assets worth at least € 255,646  acquired and at least 10 jobs created for Bulgarian citizens.

Do the assets have to be new?

Yes. The Ministry of Innovation and Growth requires newly acquired long-term tangible and intangible assets purchased after the share subscription, reaching at least € 255,646  in value. Plan for depreciation so the value is maintained throughout the residence period.

Which authority certifies the investment?

The Ministry of Innovation and Growth, typically within around 30 days of application.

Does this route give me an EU passport or Bulgarian citizenship directly?

No. It leads to permanent residence. The fast-track citizenship-by-investment scheme was abolished in 2022; citizenship is only available later through ordinary naturalisation, generally after around five years and subject to separate conditions.

Are the thresholds now stated in euro?

Bulgaria adopted the euro on 1 January 2026. The statutory figure remains BGN 500,000, which equals approximately EUR 255,646 at the fixed rate of 1.95583 BGN per euro.

For more information, please contact us via our contact form or at cbi@newbalkanslawoffice.com.