The EU Blue Card is issued by the “Migration” Directorate of the Bulgarian Ministry of Interior after the foreign national has obtained a permit for highly-qualified employment in Bulgaria from the Bulgarian Employment Agency and a long-term stay visa type “D” or a continuous residence permit issued on another ground.

Permit for Highly-Qualified Employment

The application for a permit for highly-qualified employment is submitted with the Employment Agency by the Bulgarian employer of the foreign national. It is granted provided that the working conditions and the pay of the foreign employee would not be less favourable than those applicable to Bulgarian employees for the same type of work. It is important to note that the general limitation restricting the number of foreign employees to 20% of the average number of Bulgarian, EU, EEA and Swiss employees hired by the same employer during the last 12 months does not apply to highly-qualified employees working under an EU Blue Card.

The third-country national is issued a permit for highly-qualified employment within 15 days of the application if the following conditions are met:

a) The foreign national must have a university degree obtained following at least a three-year educational course carried out in an educational institution recognized as a university by the respective foreign state. The higher education must be proven with a diploma, certificate or another relevant document.

b) The gross labour remuneration payable to the foreign national according to his employment agreement is at least 1.5 times higher than the average employment salary in Bulgaria for the last 12 months.

c) The employment agreement of the foreign employee is concluded for at least 12 months.

Issue Issue of an EU Blue Card

Following the issue of the permit for highly-qualified employment the foreign national may apply for the issue of the EU Blue Card. The application must be accompanied by a copy of the foreigner’s valid international passport and evidence that s/he is health insured in compliance with the Bulgarian legislation or disposes of a medical insurance. The applicant is relieved from the obligation to reside outside Bulgaria during the application process which is applicable to the other grounds for work and stay in Bulgaria.The EU Blue Card is issued by the “Migration” Directorate of the Bulgarian Ministry of Interior for a period of up to 4 years and can be re-issued for another period.

Restrictions of the EU Blue Card

The EU Blue Card entitles the foreign employee to work in Bulgaria only for a particular employer and only according to conditions of the permit in terms of place of work, job position and term of employment. The foreign national can change his employer during the first two years of his employment only after a written permission of the Bulgarian Employment Agency. In case the foreign employee loses his job he is entitled to seek a new job and start new work within 3 months without losing the EU Blue Card.

Residence Permit for the Members of the Family of the EU Blue Card Holder

The members of the family of the EU Blue Card holder are entitled to continuous residence permits valid for the period of the EU Blue Card if for the period of their residence they dispose of lodging, health insurance and sufficient funds to support themselves no less than the minimum monthly salary (BGN 510 for 2018).  Family members are also entitled to work in Bulgaria as employees or freelancers provided that they obtain the necessary permits.

Related links and articles:

• Expatriate employment Bulgaria
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The Bulgarian branch office is not a separate legal entity but a part of the foreign company. As a result, share capital of the branch is not required and the foreign company is liable for the liabilities incurred by the branch.

Legal Representative of the Bulgarian Branch

Though the Bulgarian branch office is not a separate legal entity and appointment of a director is not required, the authorization of a legal representative of the branch is mandatory. The representative powers of the legal representative are determined by a power of attorney granted to him by the foreign company.

Registration with the Bulgarian Commercial Register

Under Bulgarian legislation branches are required to be registered with the Bulgarian Commercial Register. The necessary documents to register a branch in Bulgaria include:

• official certificate of good standing of the foreign company;

• official incumbency certificate containing the particulars of the persons authorized to represent the foreign company and their representative powers (if not contained in the certificate of good standing);

• resolution of the foreign company to establish a branch in Bulgaria (the persons competent to adopt such a resolution are determined by the national corporate law of the foreign company);

• constituent act/articles of association of the foreign company;

• notarized power of attorney granted to the legal representative of the Bulgarian branch;

• notarized written consent and specimen signature of the legal representative of the Bulgarian branch;

• declaration under art.13, para. 4 of the Bulgarian Commercial Register Act.

Accounting

Under the Bulgarian Commerce Act following the successful branch office registration, the branch is required to maintain its own bookkeeping as well as to prepare a balance sheet.

Taxation

Under the Bulgarian tax legislation the profit generated by a foreign company’s branch established in Bulgaria is subject to corporate income tax.

Related links and articles:

• Legal solicitors in Bulgaria
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***

“(1) The copyright created under assignment vests in the author of the work unless else is agreed in the assignment contract.

 (2) If else is not agreed the assignor is entitled to exploit the work without the author’s permission and for the purposes for which its creation was assigned.”

***

A question that brings about most controversy in the legal practice and doctrine is what “unless else is agreed” means.  That question has not been answered by the court yet and may cause some serious complications in practice.

One of the most commonplace approaches to construe “unless else is agreed” is that it is possible to agree that the ownership of copyright in a work created by assignment may originally vest in the assignor, ie the copyright arises directly for the assignor.  This argument is based on the understanding that since in the absence of any contractual arrangements the law provides that the copyright ownership in Bulgaria vests in the author, per argumentum a contrario “unless else is agreed” should mean that it is possible to contractually agree that the copyright work may originally vest in the assignor.  However, such an argument is quite controversial to the extent that it may not be valid at all.

First we should start by saying that the proper application of argument a contrario depends on the proper identification of the premise.  A helpful example in that direction would be the following – what would be the opposite of “right” – “left”, “wrong”, “unfair” etc?  The answer would depend on the proper context in which “right” is used.

In light of the above it is safe to say that the Article 42 of CNRA does not in any way provide in a positive way that in Bulgaria it is possible to be contractually agreed that the copyright holder in a work created by assignment may vest in the assignor, eg the law does not provide “unless it is agreed that the copyright will vest in the assignor”.  It simply provides “if else is not agreed”.

The answer to the question on the ownership rights in Bulgarian law may involve a more detailed look at some of the basic principles in Bulgarian copyright law:

• for instance, Article 5 of CNRA provides that the “author” may only be a physical person/individual from whose creative efforts resulted the creation of the work.  This understanding is based on the fact that the creation of a work requires intellectual and physicals efforts which are naturally intrinsic only to humans in contrast to legal entities which are merely abstract legal concepts.  Any other person may only be a “copyright holder” in Bulgaria (but not an “author”) where the law expressly provides so.  In other words, to whom the capacity of “author” belongs is determined by statutory law and may not be subject to contractual arrangements between the parties;

• the copyright work under Bulgarian law comprises moral and property rights. The only author’s property right is the right to exploit/permit the exploitation of the author’s work to third parties, ie the author is not entitled to dispose of (sell/exchange/donate/waive/give as a contribution in kind/transfer in any other way) its copyright.  Furthermore, two of the moral rights are inseparable from the author (eg the right to acknowledgment of authorship and the right to indication of the author’s name);

• in Bulgaria only the author may be the copyright holder in its entirety, ie the full set of moral and property rights (subject to two peculiar exceptions concerning computer programs created under employment and periodicals).;

• any right of exploitation granted/acquired by contract may not be for a period longer than 10 years.  Only those rights of exploitation conferred on copyright holders by virtue of the statutory law (and not by contract) are not limited by that 10-year term and subsist for the entire duration of the copyright even after the termination of the employment/assignment agreement.  For instance, that should be the case with the assignor’s right under Article 42 (2) of CNRA to exploit the work without the author’s permission for the purposes it was created.

The above general principles and some other standings in Bulgarian copyright law are hard to reconcile with the idea that the it may be contractually arranged between the assignor and the author that the copyright in a work created by assignment may originally vest in the assignor, irrespective of whether the assignor is a physical person/individual or a legal entity.

There has not yet been court practice on the above matter.  It still remains to be seen how the court would resolve on the question what “unless else is agreed” means.

Related links and articles:

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As the popularity of alternative dispute resolution (legal arbitration and legal mediation) in Bulgaria grows, the need for raising the awareness of the validity and enforceability of the acts issued as a result of such procedures becomes obvious.

This brief article is aimed at outlining the steps for enforcement of arbitral awards issued by a domestic (i.e. Bulgarian) arbitration tribunal or arbiter in Bulgaria. Enforcement of foreign arbitral awards is regulated by the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards and will be subject of a different publication.

Although obtaining a favourable arbitral award in Bulgaria is always considered an advantage, it is not necessarily followed by voluntary satisfaction of the plaintiff’s claim by the defendant. The defendant may continue to disregard his obligations and disobey the stipulations of the award.

In these cases the plaintiff should seek enforcement of the arbitral award through a Bulgarian enforcement agent. But in order to do so, the plaintiff must obtain a writ of execution issued by Sofia City Court.

• Court proceedings

The writ of execution is issued upon a special request filed by the plaintiff with Sofia City Court. The arbitral award (result of the legal mediation or arbitration) itself as well as evidence for the service of the award to the defendant should be attached to the request.

The court rules the plaintiff’s request for issuance of a writ of execution after a formal check of the arbitral award without observation of the correctness of the arbitral award.

The court’s ruling of the request is subject to appeal by both the plaintiff (if the request is rejected) and by the defendant (if the request is sustained but only after the writ of execution is served to him by the enforcement agent).

After obtaining a writ of execution the plaintiff is entitled to initiate execution proceedings against the debtor by filing the relevant request for initiation of execution proceedings with an enforcement agent.

Related links and articles:

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• Law consulting services in Bulgaria
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I. Employment Implications

 In case the employee secondment does not exceed 30 days, the employer can send its employee to another country for business-trip purposes without the employee’s explicit consent. It suffices that the employer covers all travel, accommodation and per diems expenses of its posted employee in the foreign country.

The secondment of staff abroad for a period exceeding 30 days requires the written consent of the employee and the signing of an agreement between the employer and the employee which must contain certain mandatory information, including:

1. the details of the secondment abroad– to which country, city and company the Bulgarian employee would be seconded;
2. what work the employee would carry out;
3. period of the secondment;
4. conditions for termination of the secondment;
5. the currency in which the salary of the employee would be paid;
6. the amounts of any additional remunerations paid with regard to the Bulgarian employee secondment – e.g. travel, accommodation and per diem expenses;
7. certain additional conditions which should be equal to the minimum conditions existing in the host country for the same or similar work, including:

• working day duration;
• lunch breaks, daily and weekly rest;
• paid annual leave;
• salary;
• overtime work compensation;
• health and safety at work.

II. Social Security Aspects

In accordance with EU Regulation 883/2004 on the coordination of social security systems an employee posted by their Bulgarian employer to another EU Member State is entitled to continue to be subject to the social security legislation of Bulgaria provided that the duration of their secondment abroad does not exceed 24 months and that the employee is not sent to replace another posted person.

The applicable social security legislation is certified by virtue of a uniform A1 certificate issued at the employer’s request by the Bulgarian National Revenue Agency. The certificate is sent to the host Member State and it serves as grounds for social security exemption in the host country for the period of the secondment so that the employee remains subject to only one social security legislation – that of the home country.

III. Taxation

In general the posting of employees from Bulgaria does not affect the tax residence status of the employee and they remain Bulgarian tax residents. However, in case the secondment lasts longer, it is possible that the employee becomes a tax resident of the host country as well. In those cases the double taxation of the employment income of the posted employee could be avoided by applying the relevant Double Tax Treaty (“DTT”) between the home and the host country. Most of the DTT-s concluded by Bulgaria provide for exclusive Bulgarian taxation of the employment income in case the staff secondment to the host state does not exceed 183 days and the salary of the employee is paid by the Bulgarian employer,

In case the posting exceeds 183 days, the employment income during the employee secondment is generally taxable both in the host country and in Bulgaria but the double taxation is eliminated in Bulgaria by applying the relevant method set in the DTT, which is usually either an exemption with progression or an ordinary tax credit.

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Bulgarian Company Transformation procedure:

• Preparation of a notarized transformation plan by the director(s) of the company

The main purpose of this plan is to outline the mechanism of the company transformation. In other words, it should provide information about the name and address of the joint-stock company, about the share exchange ratio (i.e. how much shares in the joint-stock company will obtain each shareholder in the limited liability company) as well as information about the terms and conditions for the handing-over of the shares in the Bulgarian joint-stock company. A draft of the statute of the joint-stock company to be formed after the transformation of the Bulgarian limited liability company should also be attached to the transformation plan.

The plan must be published with the Bulgarian Commercial Register at least 30 (thirty) days prior to the planned date of the general meeting of the shareholders in the limited liability company that is to be transformed at which the transformation will be discussed and put to a vote.

Preparation of such a plan is not required when the limited liability company is a solely owned limited liability company.

• Sending a notification to the National Revenue Agency (NRA)

The execution of the said transformation of a Bulgarian limited liability company or solely owned limited liability company requires a notification to the NRA of the planned reorganization which should be notified when transforming companies in Bulgaria. The NRA is expected to issue a certificate evidencing that it has been duly notified of the transformation within 60 (sixty) days as of filing the notification.

• Appointment of a registered auditor and preparation of a report for the transformation of the Bulgarian company

The main task of the auditor appointed by the manager(s) of the Bulgarian limited liability company due to be transformed is to prepare a report containing an assessment of the adequacy of the exchange ratio. The auditor is also required to check whether the share capital of the joint-stock company is supported by the relevant assets of the company.

• Adoption of a resolution for the company transformation

The next step of the transformation process is the adoption of a resolution by the general meeting of the shareholders in the Bulgarian limited liability company. The resolution is adopted only if the shareholders who own at least three-quarters of the share capital vote in favour of the transformation of the company into a joint stock company in Bulgaria. At this meeting should also be adopted the statute of the joint-stock company. Appointment of the managing bodies of the joint-stock company is also necessary.

• Handing-over of the issued interim share certificates/shares to the shareholders

After the adoption of the resolution for the transformation of the limited liability company / solely owned company, the managing body of the joint-stock company is required to appoint a depository. The depository is a natural or legal person to which the issued interim share certificates/shares are handed. The depository should hand them over to the shareholders of the joint-stock company within 2 (two) months as of registration of the transformation with the Commercial Register in Bulgaria.

• Registration of the transformation with the Bulgarian Commercial Register

The transformation is finalized with its registration with the Bulgarian Commercial Register. As of the date of this registration the transformed limited liability company is deemed wound up and the joint-stock company is deemed established. As a result, the shareholders in the limited liability company become shareholders in the joint-stock company and all the assets and liabilities of the limited liability company is transferred to the joint-stock company as a universal successor of the limited liability company.

Related links and articles:

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• Form of the real estate purchase contract

The purchase of a real estate in Bulgaria is made through a written contract concluded in a special form – a notarial act or deed.  The notarial deed has to be signed before a notary officer acting in the court region where the property is located.

• Bulgarian Real Estate Register

The notarial deed has to be registered with the Bulgarian Real Estate Register. It is the notary officer who is obligated to submit the notarial deed for registration with the Real Estate Register on the day of signing of the notarial deed.

• Restrictions on buying Bulgarian property by foreigners

Buying Building (s) in Bulgaria

There is no restriction a foreign individual or a foreign legal entity  to purchase a building (an apartment, a house, etc.) in Bulgaria.

Buying Land in Bulgaria

The Bulgarian legislation distinguishes two groups of foreigners depending on their residency:

– European Union (EU) citizens and EU legal entities and

– Non–EU citizens and non-EU legal entities

As far as buying property in Bulgaria is concerned, EU citizens and EU legal entities have rights equal to the rights of Bulgarian citizens and Bulgarian legal entities, i.e. there are no restrictions for the purchase of land by EU citizens or EU legal entities.

Non-EU citizens and non-EU legal entities can buy constructional land in Bulgaria under the terms and conditions of an international agreement signed between Bulgaria and the respective foreign country of residence or registration of the foreign person. In actual fact, however, we are not aware of any such international agreements signed between Bulgaria and any non-EU country. Therefore, practically, non-EU foreign individuals and non-EU legal entities do not have the right to acquire ownership over constructional land in Bulgaria. Normally, our lawyers advise our clients to overcome this restriction through the incorporation of a Bulgarian legal entity that acquires the constructional land.

Non-EU citizens and non-EU legal entities are restricted from buying agricultural land in Bulgaria, The acquisition of agricultural land by a non-EU citizen is possible only through inheritance or if the person has resided in Bulgaria for more than 5 years .

• Real estate transfer taxes, fees and stamp duties

The acquisition of a Bulgarian real estate triggers the following costs:

Bulgarian Local real estate transfer tax.

The tax is paid to the municipality where the property is located.

The real estate tax varies between 0.1 per cent and 3.0 per cent and is determined annually by the municipal council of each municipality. For example, in 2015 the Sofia Municipality has determined 2,5 per cent local real estate transfer tax.

The tax is levied on the higher between the tax evaluation of the real estate and the acquisition price.

Registration stamp duty.

The stamp duty is paid to the Bulgarian Registration Agency (Real Estate Register).

The stamp duty is 0.1 per cent.

The stamp duty is levied on the higher between the purchase price and the tax evaluation of the Bulgarian property.

Notary fee

The notary fee is due to the notary officer.

The notary fee is calculated as per progressive table. For example, the notary fee for a purchase of a real estate or land in Bulgaria for a price of 100 000 euro is approximately 540 euro.

The notary fee is levied on the higher between the tax evaluation of the real estate and the purchase price.

• Registration of the real estate for tax purposes

Each owner is obliged to declare the acquired real estate with the respective municipality, upon location of the real estate within 2 months after the acquisition.

• Annual real estate taxes and fees in Bulgaria

The owner of a real estate is obliged to pay the following annual taxes and fees on his/her property or land:

Annual real estate tax in Bulgaria

The amount of this tax is determined annually by each municipality.

Currently the rate of the Bulgarian land or pproperty tax varies between 0.01 per cent and 0.45 per cent. For example, in 2015 the Sofia Municipality has determined 0.1875 per cent real estate tax.

Individuals pay real estate tax on the basis of the tax evaluation. Companies pay real estate tax on the higher between the book value of the real estate and the tax evaluation.

Annual waste disposal fee

There are different ways for determination of the amount of the Bulgarian waste disposal fee depending on the type of the real estates and their owner. The amount of the waste disposal fee in Bulgaria is determined by each municipality.

The waste disposal fee for residential real estates is determined proportionally as a fixed percentage over the tax evaluation of the property. For example, in 2015 the Sofia Municipality has determined 0,16% waste disposal fee for this type of real estates.

There are three ways to determine the wasted disposal fee for companies’ non-residential real estates, namely:

– Proportionally as a fixed percentage over the book value of the real estate – for 2015 the Sofia Municipality has determined 1.00 per cent waste disposal fee.

– According to the amountof the waste and depending on the typeandnumber ofcontainersfor waste storage and frequency oftransportation and

– By direct agreement with Bulgarian waste disposal companies.

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• Mandatory VAT Registration for Taxable Turnover

Any company making supplies of goods or services taxable in Bulgaria, thus accumulating a taxable turnover of BGN 50 000 (app. EUR 25 000) or more in the last 12 months, is obligated to register for VAT purposes in Bulgaria and start charging Bulgarian VAT of 20% on its supplies.

The taxable transactions generating VAT-able turnover include not only domestic supplies of goods or services to Bulgarian clients but also exports to non-EU Member-States and supply of goods and services to non-taxable persons (e.g. private individuals) in other EU Member-States.

• VAT Registration for Intra-Community Acquisitions

Even if the taxable turnover of a Bulgarian company is below the registration threshold of BGN 50 000, the company may still be liable to VAT registration under Bulgarian legislation if it receives goods dispatched from other EU Member-States by suppliers who are taxable persons registered for VAT purposes in another EU Member State. The VAT registration legal obligation arises only if the intra-Community acquisitions reach the amount of BGN 20 000 (app. EUR 10 000) for a given calendar year.

• VAT Registration for Reverse-Charge Services

Generally, services supplied to another taxable person in the EU (i.e. B2B transactions) are taxable in the Member State of the customer and the latter is liable to self-charge VAT on those services under the so called “reverse-charge” mechanism. Due to the fact that such services are taxable in the country of the customer, they do not form part of the taxable turnover of a company for mandatory VAT registration purposes.

However, those businesses are subject to a special VAT registration in Bulgaria for all services supplied by the Bulgarian company to taxable persons in other EU Member States and/or received by the Bulgarian company from taxable persons established in other Member States. The VAT registration does not depend on the amount of the supplies or the turnover of the person.

 Our Bulgarian law firm has extensive experience in the field of VAT registration, acts appealing, tax planning, should you have any further inquiries, do not hesitate to contact us.

The specific rules for VAT registration of foreign businesses in Bulgaria are described in detail in our vat registration of foreign businesses in bulgaria blog article.

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The post VAT Registration of Bulgarian Businesses appeared first on Адвокатско дружество Делчев и Партньори.

What companies often underestimate or even forget is that the sale of goods and provision of services to buyers in other countries often creates an obligation for VAT registration either in their own country of establishment or in the country of destination. In this regard, here are the most common cases, where businesses must register for VAT purposes in Bulgaria. Our Bulgarian lawyers have proven record of advising foreign companies on their VAT registration in Bulgaria.

VAT Registration of Foreign Businesses in Bulgaria

• Distance Selling of Goods in Bulgaria

If an EU company sells and delivers goods to Bulgarian individual clients (e.g. e-retailers selling goods on their websites), the retailer is liable to register for VAT purposes in Bulgaria as soon as his distance sales to Bulgarian clients exceed the threshold of BGN 70 000 (app. EUR 35 000) for a calendar year. Bulgarian VAT must be then charged on all goods delivered to Bulgaria.

• Export of Goods from Bulgaria to a Third Country

A foreign business may need to register for VAT purposes in Bulgaria if goods are bought in Bulgaria and are subsequently re-sold and exported outside the EU by the foreign company or its non-EU customer. The foreign business VAT registration in Bulgaria is subject to the condition that the goods are transported only once during the two subsequent transactions and that the value of the exported goods exceeds BGN 50 000 (app. EUR 25 000).

• Telecommunication, Broadcasting and Electronic Services in Bulgaria

Following the introduction of the mini one-stop shop (“MOSS) for telecommunication, radio- and television broadcasting and electronically supplied services to private individuals, a foreign business may register for VAT purposes in Bulgaria if it chooses Bulgaria as its “Member State of identification” for the MOSS schemes.

A foreign company supplying such services may be also liable to register for VAT purposes in Bulgaria if it has not been identified for MOSS in another EU Member States and supplies telecommunication, broadcasting and electronically supplied services to private individuals in Bulgaria.

Our Bulgarian law firm has extensive practice history related to VAT registration, representation and litigation in Bulgaria – for any case specific issues, do not hesitate to contact us.

The specific rules for VAT registration of Bulgarian businesses are described in detail in our Vat registration of Bulgarian businesses blog article.

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The post VAT Registration of Foreign Businesses in Bulgaria appeared first on Адвокатско дружество Делчев и Партньори.

The fast-track Bulgarian citizenship procedure includes the following two stages:

Stage 1 – Obtaining a Fast Track Bulgarian Permanent Residence Status

While the standard Bulgarian permanent residence legal procedure requires at least five years of previous legal residence in Bulgaria for work or business purposes, the Bulgarian fast-track procedure provides for an instant permanent residence status if the foreigner makes an investment in Bulgaria in any of the following forms:

1. investment of over BGN 1,000,000 (app. EUR 512,000) in the form of an acquisition of:

• Bulgarian intellectual property – copyrights, patents, trademarks, etc., or
• shares in publicly traded Bulgarian companies;, or
• debentures and treasury bonds as well as derivatives thereof issued by the Bulgarian State or the municipalities with a remaining term until maturity no less than 6 months; or
• concession rights in the territory of Bulgaria; or
• ownership in the property of a Bulgarian company with at least 50% State of municipality holding pursuant to the Bulgarian Privatization and Post-Privatization Control Act; or
• shares or stock in a Bulgarian company held by the State or the municipalities pursuant to the Bulgarian Privatization and Post-Privatization Control Act.

2. investment of over BGN 1,000,000 (app. EUR 512,000) in a licensed credit institution in Bulgaria under an investment management agreement for a period of at least 5 years provided that the deposit is not used to guarantee other loans extended by a Bulgarian credit institution.

The above mentioned forms of investment in Bulgaria entitle to a Bulgarian permanent residence status not only the foreigners making the investment but also their family members.

The permanent residence status gives its holders the right to freely enter and leave Bulgaria and reside in the country. At the same time the foreigner does not lose his permanent residence status if he does not stay physically in Bulgaria.

Stage 2 – Obtaining a Fast Track Bulgarian Citizenship

Once the foreigner obtains a Bulgarian permanent residence permit, as a next step s/he could apply for a Bulgarian citizenship if they meet the following legal requirements:

• The foreigner is over 18 years old and has a clean criminal record; and

• The foreigner has held a permanent residence status for at least one year; and

• The foreigner has doubled their investment up to BGN 2,000,000 (app. EUR 1,022,000) or has invested at least BGN 1,000,000 (app. EUR 512,000) in the capital of a Bulgarian company which is carrying out a priority investment project certified pursuant to the Bulgarian Investment Promotion Act; and

• The foreigner holds the second additional investment for at least two years in order to sustain its Bulgarian citizenship.

Benefits of the Fast-Track Bulgarian Citizenship Procedure

Some of the advantages that make the fast-track Bulgarian citizenship procedure so beneficial are as follows:

• No Bulgarian language skills required;
• No obligation for renouncing the current citizenship of the foreigner;
• No physical presence and residence in Bulgaria required;
• Very short and fast process to citizenship involving only one year of holding a permanent residence status.

A foreigner who has acquired Bulgarian citizenship can freely access any country within the European Union and no VISA application is required. Our lawyers can give you legal advice and guide you through the process of obtaining Bulgarian citizenship via the fast-track legal procedure.

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