Short-stay Bulgarian Business visa – Type C Bulgarian Business visa

A non-EU national may obtain a Bulgarian Business visa on the ground of registering a limited company, branch or trade representative office in Bulgaria. Eligibility requires the preparation of a Business invitation letter which will be prepared for you as a client of our firm.

The short-stay Bulgarian Business visa is a multi-entries visa allowing a stay of 90 days in Bulgaria. Receiving a business invitation letter a visa application should be submitted at the nearest Bulgarian embassy or consulate. The visa processing time is up to 10 working days and a visa application fee of 60€ is payable.

For more details about our packages which include Bulgarian business invitation letter, please do not hesitate to contact us.

Long-term Bulgarian Business visa – Type D Bulgarian Business visa

There are 3 primary instances for which a long-term Bulgarian Business visa is issued:
1. Registration of a Trade Representative Office in Bulgaria; NOT required to employ local citizens.

2. Registration of a Bulgarian company employing at least 10 local citizens for no fewer than 6 months.

3. Registration of a Bulgarian branch employing at least 10 local citizens for now fewer than 6 months.

Our experience shows that the most convenient and affordable way for a foreign national to obtain a Type D Bulgarian Business visa, and eventually a Bulgarian residence permit is by way of registering a trade representative office in Bulgaria. The trade representative office is regulated by the Investment Promotion Act (IPA) of Bulgaria.

The long-term Bulgarian Business visa is granted either for 6 or 12 months, and it is mandatory for all non-EU nationals who would like to apply for a Bulgarian residence permit. The visa processing time is 30 working days and a visa application fee of 100€ is payable.

To learn about registering a Bulgarian trade representative office and obtaining a Bulgarian Business visa & residence permit please do not hesitate to contact us.

***Under Decision 565/2014/EC of the European Parliament and the European Council of May 15, 2014 which said that Bulgaria, Croatia, Cyprus and Romania may consider their national visas as equivalent for transit through or intended stays on their territory not exceeding 90 days in any 180-day period. All types of visas and residence permits are affected irrespectively of the nationality of the holders, provided they are issued by the four countries, which are fully implementing the Schengen acquis. Holders of a Bulgarian visa can travel legally to Romania, Croatia and Cyprus for 90 days in any 180 days period without visa.

If you are not a foreign investor or entrepreneur, you may still obtain a Bulgarian D visa and residence permit. A popular option is the Bulgarian Pensioner D visa. The Pensioner D visa allows foreign pensioners to reside in Bulgaria long-term with the option to convert their temporary residency to permanent. The only requirement is that the applicant’s pension abroad is equal or exceeds the Bulgarian minimum monthly pension or minimum monthly salary. The pension must be transferred to a Bulgarian bank account. You are NOT required to invest any funds in Bulgaria or purchase a property.

How do I become a resident of Bulgaria?

EU citizens can apply for Bulgarian residence and Bulgarian ID card by having a proof of accommodation and sufficient funds to support their stay in Bulgaria. This is administrative service provided by the Migration Directorate. The residence application is lodged at the local Migration Office in the district where the accommodation is located. 

Time to obtain Bulgarian residence

EU citizens are granted Bulgarian residence within 3 working days after the application is received. If you choose our services, you will lodge your application on Day 1, you will be photographed on Day 2, and you will receive your Bulgarian residency card on Day 3. If you cannot stay for longer than 2 working days in Bulgaria, you can grant a power of attorney to our law firm and we will collect the residency card on your behalf and dispatch to your address abroad with DHL Courier services. 

Family reunification for non-EU family members of EU citizens

Once you have been granted Bulgarian residency for EU citizens you can apply for family reunification for your non-EU family members. The non-EU family members have to enter Bulgaria on a valid national Bulgarian C visa or a valid Schengen visa.

The non-EU family member has to apply in person with the local Migration Office. The  Migration Office grants a three months temporary residency card while the family reunification application is considered. The family reunification application will be considered within 3–5 working days.  

Our law firm can assist you with the preparation of a sponsor letter for your family members who intend to apply for a Bulgarian C visa. When applying for a C visa with the nearest Bulgarian embassy or general consulate, the non-EU citizen should provide evidence of his/her personal/business circumstances abroad. This evidence can be in the form of the following:

1. Deeds – showing that you have property in your home country is a good way of proving that you don’t intend to remain in Bulgaria after the expiration of your visa.
2. School certificates – if you have children, certificates that your children are enrolled in primary, secondary or high school is good.
3. Marriage certificate.

Family reunification for unmarried cohabiting couples

Since the begining of 2019 cohabiting couples can no longer apply for family reunification in Bulgaria. To be eligible for family reunficiation, you have to be married and provide a legalized marriage certificate.

Who is considered a family member?

1. Spouses
2. Children below 18 years of age
3. Parents

Fees required to obtain Bulgarian residence

Service	Fee
Bulgarian residence for EU citizens	750 - 1,500 €
Bulgarian residence for a whole EU family	1,250 - 2,500 €
Family reunification for non-EU citizens	750 €
Family reunification of persons below 18 years old	250 €

Advantages of applying for family reunification in Bulgaria

• Family members are not required to provide a CBR check. 
• Renting or buying a property in Bulgaria is more affordable than in any other EU member state.
• Legal fees in Bulgaria are much lesser than that of immigration lawyers in the United Kingdom or in any other EU member state.
• Bulgarian migration authorities are trying to attract an educated labour force from non-EU member states and therefore, there is a relaxed immigration policy on non-EU citizens.

What do you get when you are granted Bulgarian residence?

• The Bulgarian residence is a precondtion to qualify for tax residency status in Bulgaria. 
• You can apply for family reunification for your non-EU family members.
• The Bulgarian residency card will guarantee hassle-free visits to Bulgaria and other EU countries for British citizens after Brexit.
• The Bulgarian ID card is a precondition to exchange your driving license for a Bulgarian driving licence.
• Holding a Bulgarian ID card, you don’t need your passport or national ID card to  register a company in Bulgaria. 
• Holding a Bulgarian ID card, you can register your car in Bulgaria and start saving taxes.  

For more details about obtaining Bulgarian residence, please feel free to contact us. 

Insolvency is the term used to describe a company’s situation where the company is unable to meet it’s debts when they fall due, and/or when their liabilities exceed their assets. The Bulgarian Insolvency law is generally governed by the Commercial Act and specific issues are regulated by the Insolvency of Banks Act (in regards to insolvency of banks) and the Insurance Code (in regards to insolvency of insurance companies). Furthermore, there is no personal insolvency in Bulgaria as it exists in the United Kingdom or in Germany.

Conditions for commencing the insolvency proceedings in Bulgaria:

• The debtor is insolvent or
• The debtor is over indebted/ excessively indebted

The over indebted/ excessively indebted is an insolvency ground only for capital companies (Private limited EOOD company, Joint Stock company etc.).

Insolvency proceedings have several stages that take place in succession.

– Initiation of the procedure by lodging a written request to the competent insolvency court to allow the insolvency proceedings

Insolvency requests are considered immediately by the competent insolvency court. The insolvency request can be filled by the debtor, liquidator or creditor/s of the debtor and the Tax Office if there are public liabilities due. Our law firm can assist you to commence insolvency proceedings on your behalf by granting a power of attorney to our law firm.

If you consider the insolvency is not the right procedure for your business, you may have a look at our article about company liquidation in Bulgaria. 

Pursuant to Art. 78 of the Tax Insurance Procedure Code, the debtor or the creditor has to notify the tax administration of the forthcoming opening of insolvency proceedings. Evidence of notifying the tax administration should be attached to the request to the insolvency court.

– Imposition of provisional precautionary measures/ preliminary protective measures

The imposition of provisional protective measures is not mandatory step of the insolvency proceedings in Bulgaria. In some cases of insolvency, it may be necessary to take special measures which affect the debtor or third parties in order to prevent the insolvent assets from diminishing. These cases are governed by Art. 629a of the Commercial Act.

– Establishing the bankruptcy estate

Broadly speaking, the bankruptcy estate/ insolvency estate is the property/ assets which either belonged to the insolvent or in which the insolvent had an interest, at the date the insolvency order was made.

– Presentation of receivables from creditors

– Recovery of the debtor’s enterprise

A recovery plan may be proposed by the debtor, the syndic, creditors with 1/3 of the unsecured or secured receivables, shareholders holding at least 1/3 of the share capital, 20% of the employees. The plan may envisage deferral of the debts; partial or whole forgiveness of debts; reorganization of the enterprise; other actions, including sale of the enterprise or part thereof.

In a case of adoption of the plan (approval by the creditors and confirmation by the court), the insolvency procedure is closed and the debtor may continue its business under the rules agreed upon. However, if the debtor doesn’t fulfill its obligations under the recovery plan and upon request by the creditors with not less than 15% of the receivables the insolvency procedure may be re-opened.

– The court declares the debtor to be bankrupted

The court order for the declaration of insolvency is effective towards everyone and shall be enforced immediately. All obligations and liabilities of the debtor become due. All rights of the insolvency debtor regarding the assets in the insolvency estate and regarding the company are removed.

– Redemption of the property included in the bankruptcy estate

– Distribution of the bankruptcy estate among the creditors

After the transformation of the insolvency estate into money, the insolvency administrator begins with its distribution. The distribution is supervised by the court. One condition for the execution of the distribution is that there are sufficient resources in the insolvency estate. This must be assessed on the basis of a balance sheet created by the insolvency administrator which is subject to confirmation by the court. The insolvency creditors’ claims are to be satisfied according to the respective categories of creditors.

– Completion and termination of insolvency proceedings

Our law firm has assisted both creditors’ to the debtor and debtors to declare insolvency in Bulgaria. For more information about insolvency in Bulgaria, please feel free to contact us.