Bulgaria: Stricter Rules Introduced Regulating Residency by Investment Program
June 12, 2023
The Bulgarian government has approved changes to a law which will more strictly regulate the residency by investment program for foreign nationals. The new rules require applicants to obtain preliminary approval from the Bulgarian authorities for making an investment; a bank reference for an account opened in their name either in Bulgaria or elsewhere in the European Union; a declaration attesting to the source of funds in a government-approved template, and evidence of their professional or investment activities, among other documents. These changes are intended to streamline and prevent fraud in the residency by investment process. As always, those individuals who obtain residency by investment are eligible for Bulgarian citizenship after five years as long as they renounce their current citizenship and show proof of their knowledge of the Bulgarian language. As a reminder, the golden passport program remains closed as of 2021.
This alert is for informational purposes only. If you h ave any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].
Explore more at Fragomen
Work authorization
Senior Associate Tugba Ozyakup and Senior Immigration Manager Andreia Ghimis explore how the EU’s Entry/Exit System is reshaping Schengen overstay enforcement, the risks facing travellers and employers and the legal remedies available to challenge or prevent adverse outcomes.
Video
Partner Rick Lamanna, Senior Associate Jake Paul Minster and Senior Manager Sergio Flores discuss Canada’s entry requirements for the 2026 FIFA World Cup, including visa-required and visa-exempt nationals, visitor entry rules and key planning considerations for fans, teams, media and volunteers.
Media mentions
Partner Kevin Miner discusses the DOL’s proposed H-1B wage rule and its potential to add significant unplanned costs for US employers.
Media mentions
Video
Senior Associate Isabel Schnitzler highlights key pathways to German citizenship, including descent-based eligibility and standard naturalization requirements and outlines important considerations for individuals exploring their options.
Media mentions
Senior Manager Louise Senior outlines key compliance considerations for UK hospitality sponsors as regulatory expectations continue to evolve.
Media mentions
Senior Counsel Mitch Wexler said proposed H-1B and PERM wage increases could raise hiring costs and apply only to new and pending applications.
Work authorization
UK Government Affairs Strategy Director Shuyeb Muquit explores the latest UK immigration fee increases and their wider implications for migration trends, labour supply and workforce planning.
Video
Partner Karine Wenger outlines US visa considerations for the 2026 FIFA World Cup, including the FIFA Pass priority scheduling system and the importance of early planning.
Media mentions
Video
Senior Associate Isabel Schnitzler highlights key considerations for managing outbound assignments from Germany, including planning, visa requirements and coordinated global support.
Video
Partner Jack Kim discusses one of many immigration pathways for staying in Canada post-graduation, the Post-Graduation Work Permit (PGWP).
Work authorization
Senior Associate Tugba Ozyakup and Senior Immigration Manager Andreia Ghimis explore how the EU’s Entry/Exit System is reshaping Schengen overstay enforcement, the risks facing travellers and employers and the legal remedies available to challenge or prevent adverse outcomes.
Video
Partner Rick Lamanna, Senior Associate Jake Paul Minster and Senior Manager Sergio Flores discuss Canada’s entry requirements for the 2026 FIFA World Cup, including visa-required and visa-exempt nationals, visitor entry rules and key planning considerations for fans, teams, media and volunteers.
Media mentions
Partner Kevin Miner discusses the DOL’s proposed H-1B wage rule and its potential to add significant unplanned costs for US employers.
Media mentions
Video
Senior Associate Isabel Schnitzler highlights key pathways to German citizenship, including descent-based eligibility and standard naturalization requirements and outlines important considerations for individuals exploring their options.
Media mentions
Senior Manager Louise Senior outlines key compliance considerations for UK hospitality sponsors as regulatory expectations continue to evolve.
Media mentions
Senior Counsel Mitch Wexler said proposed H-1B and PERM wage increases could raise hiring costs and apply only to new and pending applications.
Work authorization
UK Government Affairs Strategy Director Shuyeb Muquit explores the latest UK immigration fee increases and their wider implications for migration trends, labour supply and workforce planning.
Video
Partner Karine Wenger outlines US visa considerations for the 2026 FIFA World Cup, including the FIFA Pass priority scheduling system and the importance of early planning.
Media mentions
Video
Senior Associate Isabel Schnitzler highlights key considerations for managing outbound assignments from Germany, including planning, visa requirements and coordinated global support.
Video
Partner Jack Kim discusses one of many immigration pathways for staying in Canada post-graduation, the Post-Graduation Work Permit (PGWP).