Bulgaria is a country to consider if you are a Dubai-based investor looking to expand your investment in Europe, as it offers investors a golden visa. Therefore the right Bulgaria visa from Dubai to apply for is this Golden visa because it is a chance to take advantage of the promise of an economy that is still growing.
The Golden Visa for Bulgaria is an amazing chance that should not be missed. The Golden Visa is more of a way to get residency by making a large investment.
That means that if you spend a certain amount of money in the economy, you can speed up the process of becoming a permanent resident of the country, giving you more time to settle in. If you want to learn more about Bulgaria’s golden visa, keep reading this article.
How the Bulgarian Golden Visa Works
The Bulgarian Golden Visa allows you to invest in Bulgaria and apply for permanent residence. You must live in Bulgaria on a temporary visa for five years before moving there permanently.
But if you apply for a business visa, you’ll have your permanent resident card in a few months. The next step is to fill out a citizenship application.
Basic eligibility criteria for Bulgaria’s Golden Visa
You have to meet several requirements to be eligible for Bulgaria’s golden visa. The following are the most important:
- You need to be at least 18 years old
- You are not an EU member
- It is required to keep one’s criminal history spotless, which must be demonstrated by a clearance certificate. The same consideration should be given to your family members who accompany you.
- You are responsible for caring for your health and providing the relevant authority with any relevant medical documents.
- You will be required to make investments, which will come from your resources. In addition, you need to ensure that you have the finances to maintain your lifestyle while in the country.
Investments you are required to make
Investing is necessary. Under the plan’s terms, one can only make particular investments.
The applicant will be required to invest at least one million BGN in one of the investment programs that has been pre-approved.
These programs consist of publicly traded equities in the country, private equity funds, venture capital or hedge funds, or organizations involved in real estate management.
After investing in any of these sectors, you must keep that investment active for five years.
Following the time above the period’s conclusion, the cash you invested will be refunded.
The process to apply for Bulgaria’s Golden Visa
The Bulgarian Investment Agency will conduct a background check on you before proceeding with the rest of the application process.
The purpose of this investigation into your past is to find out whether or not your investment will harm the country’s interests.
After you have been given the all-clear, you should proceed with your investment. It is unnecessary for you to be here in person now.
No matter what kind of investment you make, you will receive the investment certificate required to submit your application for a visa.
Apply for an investor visa of type D at the Bulgarian consulate or Embassy. You can enter the nation and apply for permanent residency with this visa.
When you arrive, apply for a card proving you have permanent residency. With this card, you will no longer require a Type D investor visa.
Documents to submit when applying for Bulgaria’s Golden Visa
You must carefully compile a portfolio with all the required documents. These documents must be handed to the appropriate authorities immediately.
To mention a few, you are required to submit the application form, a certificate of investment, confirmation that the visa fees have been paid, photographs in passport size, certified copies of the birth certificate and marriage certificate (if applicable), a certificate from the police, and insurance documents.
In addition, you will be required to provide evidence that you have sufficient finances to support yourself throughout the residency.
Benefits of Bulgaria’s Golden Visa
- If you apply for the Bulgarian Golden Visa, a simplified process, you can become a citizen of the country without any difficulties.
- The investment levels are significantly lower than many of their European peers.
- Access without a visa is required in more than 180 countries.
- You will not be required to have a permanent residence to participate in the program.
- The money that you have kept will be refunded to you after it has been completed.
Bulgarian Golden Visa application processing time
The whole process of getting permanent residency in Bulgaria usually takes about six months. After the Bulgarian Investment Agency (BIA) sends them your proof of investment, it will take the Bulgarian Embassy closest to you about 30 days to process your application for an Investor Visa.
Most of the time, it takes about 45 days for a Bulgarian Migration Office to process an Investor Visa application before a permanent residency visa can be issued.
