Publications
Author / Peter Lu‧呂旭明會計師、Max Lu‧呂嘉昕信託師
U.S. Trust and Estate Planning 美國信託規劃實務(英文部分)
Chapter 5 The Rise of the Global Family Office
How do I apply for Permanent Residency in Bulgaria through investment?
1. Research Bulgaria
  • Due Diligence: Conduct thorough due diligence on the program, investment opportunities, and the agents or firms assisting with the process.
  • Legal Advice: Seek comprehensive legal and financial advice to understand all implications, including tax obligations and compliance requirements.
  • Reputable Agents: Use reputable and certified advisors who have a proven track record in managing citizenship by investment applications.
  • Stay Informed: Keep abreast of any changes in the political and regulatory landscape of the chosen country and the EU as a whole.
2. Prepare relevant documents, including:
  • Passport and personal photos with a white background.
  • Household registration transcript.
  • Marriage certificate (if applicable).
  • No criminal record certificate.
  • Birth certificates.
  • Employment certificate.
  • Bank statements.
  • Certificate of residential address.
  • Medical insurance and blood test report.
3. Translate relevant documents, including those listed above, to English.

4. Hire a professional immigration consulting law firm to prepare applicable forms. The law firm typically provides the following services:
  • Advises on and prepares supporting documentation for the client’s pre-approval process.
  • Obtains a certificate confirming the client’s eligible investment from the competent authority.
  • Advises on and prepares supporting documentation for the client’s visa and permanent residence applications, guiding the client through these processes.
  • Liaises with Bulgarian authorities following the issuance of permanent residence approval and assists with local population register compliance.
  • Organizes and accompanies the client to their Permanent Residence Permit issuance appointment, assisting with the issuance and collection of the Permanent Residence Permit.
  • Advises on and prepares supporting documentation for the spouse’s and children’s visa and permanent residence applications, guiding them through these processes.
5. Prepare funds including the investment of €500,000 and applicable fees required of advisors and local attorneys.

6. Invest €500,000 into a government-approved Alternative Investment Fund by transferring funds from the investor’s personal account (typically in the U.S., Hong Kong or Singapore).

7. Apply for Pre-Approval and Visa-D from the Bulgaria Ministry of Foreign Affairs:
  • Visit a Bulgarian Consulate in Los Angeles or Washington D.C. in the U.S. or Shanghai or Beijing in China.
  • Submit applicable documents and forms, including the Visa-D Application.
  • Receive Preliminary Letter of Approval and Visa-D.
8. Apply for Permanent Residence:
  • Visit Bulgaria: Travel to Bulgaria to apply for the permanent residence permit within the validity period of the Visa-D.
  • Submit required documents including:
  • PR application form.
  • Certificate of no criminal record.
  • Local health insurance.
  • Obtain Permanent Residence Permit: Complete the application process.
9. After receiving Permanent Residency, Wealth Creators should:
  • Maintain Bulgarian Residency: Ensure annual entry into Bulgaria and maintain a Bulgarian residential address.
  • Apply for Citizenship: After keeping Permanent Residence status for five years, Wealth Creators can apply for Bulgarian citizenship.
  • Obtain a Local Cell Phone Number: Necessary for communicating and opening bank accounts.
  • Open a Personal Bank Account: Required for financial transactions in Bulgaria and in the EU.
  • Establish an operating or investment company in Bulgaria.
  • Open corporate bank or investment account(s).
The above summarizes the comprehensive process of obtaining Bulgarian permanent residency.