Home > Bulgaria general news, Bulgarian Economy, Politics and Lies > Bulgarian cabinet discusses the changes in the Law on foreigners

Bulgarian cabinet discusses the changes in the Law on foreigners

According to the changes, in order to receive a permanent residence permit, foreign investors will have to invest 1,5 million levs and not 500 thousand US dollars.

The changes are applied for the harmonization of Bulgarian with European legislation, BNR announced.

The increase of the amount of the investment is necessary because of the development of the Bulgarian economy, as well as business on a global scale.

The requirement for 6 month and 1 day residence in the previous year of the investor is no longer effective.

According to the cabinet, the changes guarantee a more favorable statute of the real investors in the local economy.

The changes in the law plan the ban of entering of foreigners in the country to be reduced from 10 to 5 years and  the right of a ban to be effective longer, when the person who imposes a ban for crossing Bulgarian borders is a serious threat for public order and security

http://international.ibox.bg/news/id_62477556.

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