Bulgaria, one of the newest EU countries, has a diversified and rich history, a mild climate, and a prime placement in Southeastern Europe. Due to its simple visa and immigration policies, it receives hundreds of Indian citizens each year.
With two options—financial and employment—the Bulgarian permanent resident and fast-track nationality schemes have been designed to obtain resident status and nationality. Both of these and additional options for Indians to immigrate to the country will be covered in this article.
Bulgarian visa for immigration
Foreigners’ entry into Bulgaria is subject to stringent monitoring and regulations. To enter Bulgaria, all holders of regular Indian passports must first obtain a visa. Indian citizens with diplomatic or official passports can enter Bulgaria without a visa. There are no particular immunizations required for health when visiting Bulgaria. These permits are only valid if you want to travel for a short period. If you intend to travel to Bulgaria, you must apply for an investment visa or EU blue card.
Residency and citizenship by investment
The Investment Scheme for Residency and Nationality offers a fast-track citizenship alternative. It is also among the rapid programs that lead to residency.
In addition to fulfilling the investment criteria, candidates must also satisfy the following requirements to be eligible for resident status:
- Have a valid passport;
- Have no criminal history;
- Having power of attorney;
- Evidence of legitimate source of income;
- Provide supportive documents; and
- Proof of funds for investment.
Investment options
There are the following investment options for immigration:
- The Deposit of BGN 6 million in a Bulgarian equity stock that is not publicly listed.
- Equity of BGN 2 million in a corporation carrying out a capital project.
- Deposit of BGN 1 million in rights under license agreements on Bulgarian land.
- BGN 1 million in mutual financing strategies that are authorized by the financial management committee.
- BGN 1 million in substitute funds that are recorded by the financial supervision committee.
- Funding of BGN 500,000 in the equity of a company creating local jobs.
Fast track to citizenship
Investors who choose the fast-track option can double their investment and apply for nationality more quickly. It includes those who choose to invest in a business and support job creation that had to have raised their capital by at minimum BGN 1 million, which led to the creation of at least 20 job vacancies.
People who invest BGN 1 million in a Bulgarian equity stock that is carrying out a prioritized capital project approved by the Ministry of Economics can also obtain fast citizenship. The person must also possess a certificate of permanent residency for at least one year.
EU blue card
The so-called EU Blue Pass, a form of residency and employment license created for eligible international citizens from non-EU nations, is one of the more inventive creations of EU employment legislation. It gives third-country nationals easier entry to the EU job market.
Indian nationals must demonstrate the following to enter the Bulgarian job sector on such a permit:
- Their net income is at least 1.5 times greater than Bulgaria’s national annual wage.
- They hold a degree that calls for at least three years of education.
- They are hired for a period that is at least 12 months long.
The total number of years that the Blue Card may be granted is four. The card’s owner is only permitted to use it in the nation in which it was issued for the first two years. If you hold the EU blue card for future years and fulfill the above-mentioned requirements, you can be eligible for permanent residency.
