Bulgarian Foundation

How can social work help you obtain Bulgarian residence permit

Bulgarian foundations have been the preferred choice for companies and individuals who seek capital protection for their assets. Others, who want to perform non-profit activities in Bulgaria, are registering foundations in order to streamline their EU social projects. But the Bulgarian foundation provides another great advantage – the possibility to obtain Bulgarian visa D and residence permit. Only few comprehend that the registration of foundation, if done properly, allows long-term stay in Bulgaria. Of course, an explicit permission from the Ministry of Justice must be obtained in advance. And here our experience is very useful.

The registration of Bulgarian non-profit organisation (foundation, etc.), requires additional procedures and permissions from the state authorities. This is when the applicant (applicants) intends to obtain Bulgarian visa D and residence permit. When this is the case, the legal conformity is of extreme importance. All documents need to be processed in strict order and prepared flawlessly.

Legal clarity on the procedures for obtaining a residence permit for social workers in Bulgaria

With the amendments of the Bulgarian “Law for the Foreigners” of 2016, the Parliament took certain additional measures. These were done to prevent non-EU foreigners to misuse the legal framework and to unlawfully obtain legal residency in Bulgaria.

Trade representative office (TRO) of a foreign company – now a difficult option

The main change was the tightening of the regime for obtaining of legal residency through registration of TRO. The new law now requires that the planned activity of the TRO in Bulgaria is checked thoroughly. The tax compliance of the foreign company abroad must be successfully evaluated by the Bulgarian authorities as well. In order for these conditions to be met, the applicant for TRO will need to employ professional lawyer or legal company. They will have to professionally prepare all documents and ensure 100% legal compliance. If this is not done, in our opinion, the applicant has minimal chances of success. All this is now attracting additional costs and is consuming more time. And this is making the use of TRO much less attractive than it was prior to the Law amendments.

Investing in Bulgaria by means of hiring personnel is now also more difficult

The other change in the law is when a foreigner is hiring Bulgarian citizens (a minimum of 10 employees required). In order to obtain residency permit now, these employees need to be hired full time (8 hours per day). Previously the law didn’t specify anything in this respect. Many foreign applicants were hiring locals half/part time in order to save on salaries, taxes and social contributions.

Legal residency for investing in real estate

In contrast to the above amendments, the anticipated decrease in the amount of the required investment in real estate in order to obtain legal residency in Bulgaria, was withdrawn before the second hearing and did not pass through the Parliament. In other words, the required amount of real estate investments remains at the same level of 600 000 Bulgarian Leva (307 000 EUR) instead of being decreased to 100 000 Bulgarian Leva (51 000 EUR).

Bulgarian foundation – the best option to obtain legal residence in Bulgaria

Luckily, there is yet another alternative in the “Law for the Foreigners”. Foreigners, willing to perform non-profit activities in Bulgaria, can now obtain Bulgarian visa D and residence permit. The condition is that they need to obtain approval by the Ministry of Justice first. This is before they will be able to apply for visa D and residence card. The task is not an easy one, but with professional legal help, it is quite feasible.

Solid legal framework about NGO in Bulgaria

The Bulgarian “Law for the non-profit entities” is very solid and rarely amended legal act. It is therefore quite reliable in terms of case law. By registering a foundation in Bulgaria with our legal support, the applicant will enjoy unprecedented level of legal protection. He will also benefit from the immigration opportunities this type of entities can offer. Of course, the applicant has to be devoted to perform real non-profit activities. This is in order to comply with the initial plan that will be presented to the Justice Ministry for approval.

Obtaining visa D through registration of an NGO

Once the foundation is dully registered and the permission from the Ministry obtained, the applicant will need to apply for immigration visa type D from the nearest Bulgarian Embassy. This visa is in general valid for 6 months. During which time, the applicant needs to visit Bulgaria in order to apply for and obtain his residency permit. After certain time of legal residence in Bulgaria, the foreigner is eligible for full Bulgarian citizenship and passport.

Bulgarian NGO can be in public or private interest

Bulgarian foundations in general can be divided in two categories: foundations in public and in private interest. The difference is the main goals of the foundation as well as the way it is represented. While the foundations in private interest can be represented and managed by single person, the foundations in public interest need a collective body of minimum 3 representatives. There are also other differences so please don’t hesitate to contact us for any additional information.

As for assets protection, Bulgarian foundations can be the ideal vehicle even for the most sophisticated type of investor. You can read more detail about this aspect of the NGOs in Bulgaria and how can one benefit from the stability of the EU regulations.

If you are convinced that registration of Bulgarian foundation is your optimal option ahead, please contact us for further assistance.