The Law on Foreigners in the Republic of Bulgaria provides that the Ministry of Innovation and Growth will be responsible for issuing, extending and revoking a certificate for a high-tech and/or innovative project (Startup Visa).
Such practice is already established in many European countries such as France, the Netherlands, Finland, Denmark, etc.
An application is submitted to the Ministry of Innovation and Growth, through the National Investment Management System (NIMS), in Bulgarian or English.
Who can apply?
The Regulation provides for foreign nationals (outside the European Union) to apply.
What is the validity of the Startup Visa?
The initial validity period is 1 year from the date of issue. After an approved report on the work carried out on the originally requested project, the duration of the Startup Visa is extended by a further 2 years.
What information is filled in?
Brief information about the applicant - name, ID; country of origin; telephone number; e-mail; education; place of work
Brief company information - name, company registration number - UIC or equivalent; registered office and country of incorporation, if applicable
Background information on the high-tech and/or innovative project - title/name; presentation of the activity, product and/or service; financial calculations/analyses and forecasts of the estimated amount of production and of the growth of revenues and costs for the next 3 years from the date of submission of the application; analysis of the market, sales, customers and partnerships; information on human resources
What documents should be prepared?
a copy of your ID;
business plan and project presentation;
proof of a valid patent or utility model registration certificate (if applicable);
an investment agreement with a specialised international private equity and venture capital fund for at least BGN 100 000, and a recommendation from the relevant fund on the applicant's contribution to the project (if applicable);
a contract or letter of intent to invest from a private equity and venture capital fund in the Republic of Bulgaria for not less than BGN 100 000 (if applicable);
a Seal of Excellence project certificate under Horizon 2020 or Horizon Europe (if applicable);
a distinction in a competition or agency competition in the field of innovation and entrepreneurship organised by the European Commission or the European Space Agency (if applicable);
at least two scientific articles published in the international databases Scopus or Web of Science, where applicable;
a document certifying the degree completed, where applicable;
a bank or equivalent document of the applicant's available funds;
evidence of sales of at least BGN 100 000 in the last two years related to the activity, product or service, where applicable;
letters of intent or partnership agreements with Bulgarian partners, where applicable.
What is the timeframe for review and responce from the authorities?
30 days after submission of the application.
Is there a fee for issuing and extending the Startup Visa?
No, there is no fee.
Is the start-up visa sufficient for a foreigner to reside in Bulgaria?
No. The start-up visa allows for the issuance of a long-term residence permit for foreigners (outside the European Union) (for up to 1 year).
What's the further steps after obtaining the certificate?
The foreigner should apply for a visa type D at their country of residence and upon receipt of the visa to finish the procedure for obtaining a Bulgarian ID card.
If you need more information about the application process, don't hesitate to contact us.
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