ANNOUNCEMENT 13 Feb 2013

In February 2013, the government of Bulgaria announced a change for the labour market access of foreign workers.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising
Inception date: 13 Feb 2013 | Removal date: open ended
Still in force

Labour market access

The Bulgarian government seeks to incentivise foreign investment through more rapid access to permanent residence in the country.
On February 13, 2013, the Bulgarian Parliament approved amendments of the Investment Promotion Act concerning foreign investors who wish to obtain Bulgarian citizenship. Concretely, an investor is eligible to acquire permanent residence under one of the following conditions:
 

  • Investment of 600 000 leva (ca. 300 000 EUR) into Bulgarian property;
  • Investment of 500 000 leva (ca. 250 000 EUR) into a company creating at least 10 jobs;
  • Investment of 250 000 leva (ca. 125 000 EUR) into a company creating at least 5 jobs in an economically underdeveloped area.

 
Before these legal amendments, foreign investors could not acquire permanent residence.
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A