13 September 2013
On September 11, 2013 Bulgarian Parliament adopted at first hearing a bill for supplementing the Foreigners in the Republic of Bulgaria Act. The bill provides for an opportunity for foreigners (citizens of countries that are not EU members) to obtain a permanent stay permit by investing over BGN 1,000,000 in a credit institution licensed in Bulgaria pursuant to asset management agreement for term not less than 5 years. The bill re-establishes the legal provision for obtaining of permanent stay permit which was revoked in February, 2013. The bill also provides for more favourable conditions for obtaining Bulgarian citizenship by investors who have invested more than BGN 2,000,000. The Invest Bulgaria Agency shall supervise the investments. In case of vioalations of the legal provisions, the permanent stay permit of the foreigners shall be declared void.