Bulgaria attracts many foreigners with its beautiful landscapes, rich history and friendly lifestyle. For those who want to make this country their permanent place of residence, there is an opportunity to obtain citizenship through real estate investments. In this article we will look at all the stages of this process.

Having a place of residence in the Republic of Bulgaria is a prerequisite for a foreigner wishing to obtain a residence permit in the state. The applicant can conclude a lease agreement for an apartment or a house, applying for a residence permit for employment, business or other reasons.

The main legal document that regulates the granting of temporary and permanent residence status to migrants is the Act on Foreigners in the Republic of Bulgaria. According to the provisions of this law, a foreign applicant has the possibility to purchase real estate in the territory of the country, but in certain cases this may serve as a basis for obtaining a temporary residence permit.

How much to invest in real estate

According to Article 24 of the above-mentioned law, a person may obtain a temporary residence permit for the purchase of real estate if the value of the property exceeds approximately 306,000 euros. The use of credit funds for the purchase is allowed.

However, the main condition is the repayment of at least 75% of the loan amount by the time of application for permanent residence, which should happen no later than in 5 years. In this case, the foreign citizen will be able to start the legalization process with the subsequent possibility of obtaining Bulgarian citizenship.

Other requirements for Bulgarian citizenship

The applicant must meet the following parameters in 2024:

• Reaching 18 years of age.
• No criminal convictions, criminal prosecutions or administrative offenses in the country whose citizenship belongs to the applicant.

If the value of the real estate does not meet the requirements of the law, the foreign applicant needs to find another legal basis for obtaining a temporary residence permit, such as employment, business, family reunification and others. In case of real estate ownership, the applicant has the possibility to obtain a multi-visa for multiple trips to Bulgaria for several years.

Action plan for obtaining Bulgarian citizenship through investments

1. Choosing the right property

First of all, potential investors should choose a property that meets the requirements of the Bulgarian legislation. This can be housing, commercial real estate or land plots.

2. Checking the legality of the transaction

It is important to make sure that the chosen property is legal and free of any encumbrances. It is better to use the services of a local lawyer or real estate agent.

3. Obtaining a bank loan (optional)

Sometimes investors may decide to use a bank loan for part of the purchase amount. This may require additional steps, including proof of financial solvency.

4. Payment of taxes and fees

When buying real estate in Bulgaria, the investor will have to pay a one-time real estate acquisition tax.

5. Obtaining a residence permit

After the transaction is finalized, the investor can apply for a temporary residence permit. This process involves submitting necessary documents such as a real estate purchase certificate, income documents and others.

6. Applying for citizenship

After residing in the country for a certain amount of time (usually 5 years from the date of obtaining a temporary residence permit), the investor can apply for a permanent residence permit. After that it is possible to apply for citizenship.

7. Interviews and screening

The citizenship process includes an interview with local authorities and verification of compliance with the laws and conditions of the program.

8. Obtaining citizenship

If all conditions are met, the investor is granted Bulgarian citizenship. This entitles the investor to all privileges and obligations of citizenship, including the possibility of free movement within the EU countries.