Bulgaria Mulls Changing Requirements for New Foreign Business Registrations

The Bulgarian Foreign Ministry has put forward amendments to the law which sets out requirements for foreign nationals who wish to start a business in the country.

Changes will include conditions under which long-term business visas will be issued to foreign nationals.

To be еligible for a long-term visa, anyone willing to carry out commercial activities will have to open up at least 10 jobs and have paid at least BGN 250 000 (EUR 127 000) to the state in a year, under to the proposed amendments to the Foreign Nationals Act in the Republic of Bulgaria, daily Trud reports.

Bulgaria's Foreign Ministry believes it will curb transit entry of people affiliated to terrorist groups.

The Council of Ministers is to vote on the proposed amendments at the end of October, and they will be submitted to Parliament upon approval.

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