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
Media mentions
Partner Shayan Sultan discusses a rise in inquiries about UAE residency and remote work programmes amid global talent mobility trends.
Media mentions
Partner Rajiv Naik, Senior Manager Thomas Kingsmill and Manager Ko Ito highlight rising UK sponsor licence revocations and how HR and mobility leaders can manage the impact.
Media mentions
Partner Bo Cooper discusses the $100,000 H-1B fee and its impact on financial, banking and technology firms relying on international talent.
Media mentions
Media mentions
Partner Audrea Golding explains how the $100,000 H-1B fee could affect hiring across the tech industry.
Blog post
Immigration Supervisor Nathalie Pimenta and Immigration Programme Manager Frida Sakaj discuss the importance of planning visa applications and document services early to avoid delays and ensure compliance with UK regulations.
Fragomen news
Media mentions
Partner Karolina Schiffter discusses how new regulations have led Polish companies to adjust their use of work permits.
Media mentions
Media mentions
Partner Bo Cooper discusses the potential implications of the $100,000 H-1B fee for employers, universities and research programs relying on international talent.
Blog post
Partner Natasha Catterson discusses how proposed changes to UK residency and citizenship rules could affect immigration planning and applicant eligibility.
Fragomen news
Partner Julia Onslow-Cole is recognised for her work shaping global immigration and workforce mobility.
Media mentions
Partner Shayan Sultan discusses a rise in inquiries about UAE residency and remote work programmes amid global talent mobility trends.
Media mentions
Partner Rajiv Naik, Senior Manager Thomas Kingsmill and Manager Ko Ito highlight rising UK sponsor licence revocations and how HR and mobility leaders can manage the impact.
Media mentions
Partner Bo Cooper discusses the $100,000 H-1B fee and its impact on financial, banking and technology firms relying on international talent.
Media mentions
Media mentions
Partner Audrea Golding explains how the $100,000 H-1B fee could affect hiring across the tech industry.
Blog post
Immigration Supervisor Nathalie Pimenta and Immigration Programme Manager Frida Sakaj discuss the importance of planning visa applications and document services early to avoid delays and ensure compliance with UK regulations.
Fragomen news
Media mentions
Partner Karolina Schiffter discusses how new regulations have led Polish companies to adjust their use of work permits.
Media mentions
Media mentions
Partner Bo Cooper discusses the potential implications of the $100,000 H-1B fee for employers, universities and research programs relying on international talent.
Blog post
Partner Natasha Catterson discusses how proposed changes to UK residency and citizenship rules could affect immigration planning and applicant eligibility.
Fragomen news
Partner Julia Onslow-Cole is recognised for her work shaping global immigration and workforce mobility.