2. A certificate for high-tech
and innovative business
projects
For those who are willing to develop
innovative and revolutionary
projects – Bulgaria welcomes you.
As of October 2022, Bulgaria
introduced a legal framework
focused on the issuance of start-up
visas to entrepreneurs outside of
the European Union, who wish to
establish their businesses in the
country.
02 WHAT IS A START-UP VISA?
3. 03
FI ND UP TO 2 FELLOWS AND
BENEFI T TOGETHER FROM
THE CERTI FI CATI ON.
Start-up visa applicants can fill out an
application in English and submit it
electronically to the Ministry of Innovation as
there is no fee owed for the utility. An Expert
Council of the Ministry of Innovation, consisting
of representatives of the state, the academic
community and the business shall consider the
request in a 30-day period.
HOW TO
APPLY?
Application form
The main information that shall be provided is one
about the applicant and his company. The request
shall be followed by attachments as the most important
are the presentation of the project and a business plan.
Expert Council
The Expert Council shall be formed on a case-by-case
basis as the participants shall not get a remuneration
to guarantee impartiality.
Extention of the certificate
The visa shall initially be issued for a period of one
year, but may be extended for another two years in
case certain preconditions are met.
Deprivation of the certificate
It is sanctioned when false declaration has been made,
there is a lack of a notification regarding change in
circumstances, or there is a breach of the Bulgarian
legislation, and these relate to the circumstances
preventing the implementation of the project.
4. 04
6 CRI T ERI O N
M UST BE M ET
The appointed Expert Council shall
evaluate the application in
accordance with strictly defined
criterion. Each criteria equals some
amount of points as the maximum
points a project could be estimated
are 14, but they must not drop below
8 points.
HOW IS THE APPLICATI ON
EVALUATED?
5. Collateralization
with funds
Estimated at maximum 3 points.
Financial forecasts
and available capital
Estimated at maximum 3 points.
Customer network Estimated at maximum 1 point.
Investments Estimated at maximum 1 point.
Valid Patent/ Certificate
for registration of a
utility model
Estimated at maximum 1 point.
Business plan and
presentation
Estimated at maximum 5 points.
