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Currency Information

 
The information in this section has been presented to “Friends Real Estate” by various official sources, including the Government of the Republic of Bulgaria, the Bulgarian Parliament, the Supreme Court, etc. Our goal is to emphasize on the most important texts of the Bulgarian laws, which could prove of a great use for our clients.

Customs & Borders
     1. Visas

  a) Entry Visas
If you are from an EU member state, the UK, Canada, USA or Israel you do not need a visa to enter the country. Those from EU countries may stay in the country for up to 90 days in a six-month period, counting from the first date of entry. For citizens of the US, Canada, the UK and Israel this period is up to 30 days within a six-month period, counting from the first date of entry. It doesn?t matter whether you leave and re-enter the country within that period, as the total number of days is what matters.
Travelers who are not citizens of the US or the countries listed above should obtain an entry visa in advance from the Bulgarian Embassy or Consulate in their country. For this they will need to provide a letter of invitation from a Bulgarian host, on a standard form, provided by the municipality, or a business partner, as well as a letter from their company or institution if they are traveling on business. Applicants for visas should note that incomplete forms, absence of photographs or inadequate payment usually result in the return of the application to the applicant without further action, and that turnover in the embassies is quite slow.



  b) Staying On
For those wishing to stay longer than the permitted period the situation is difficult, even if their reasons for being here are quite genuine. In order to obtain a residence permit (1 or 5 years) one should either own a company which employs at least 10 Bulgarian staff and/or invest at least $500,000 in the country. Oh yes, and to get a 5 year residence permit you will soon have to sit a test in Bulgarian language proficiency!
You can get more information by visiting the Passport Office for Foreigners at 48 Maria Luiza Blvd. in Sofia, where the treatment is less than friendly and the waiting long, but these are really the only people who can give you a straight story.



  c) Transit Visas
Transit visas allow a stay in Bulgaria of 24 hours or less. Airline tickets and evidence of right of entry into the next country of travel will be required. Possession of airline tickets does not guarantee the granting of an entry visa.



  d) Medical Insurance
Although citizens of the countries listed above do not require visas for stays of up to a certain period, depending on their countries, they should be able, on request, to show evidence of medical insurance valid for Bulgaria. The travel/medical insurance should be for at least $5000 and should cover emergency medical expenses, repatriation, transport of mortal remains, funeral and hospitalization. If the visitor has insurance of this type, a copy of the policy, with legible policy number, company name, duration of validity and sum of coverage or a letter from the insurance company including these data, should be submitted with the visa application. If the traveler does not have such insurance, a visa application can be made without it, but the insurance must be obtained after the consulate has informed the applicant that the visa is approved. The visa will be issued only after proof of insurance is submitted.



  e) General Information
Bulgaria has liberalized its visa policy as a gesture of reciprocity and to conform to international standards. A valid passport is all that is required for visitors from the EU and European Free Trade Association (EFTA) member states for stays up to 30 days. In addition, the citizens of Cuba, Croatia, Czech Republic, Estonia, Hungary, the Republic of Korea, Lithuania, Macedonia, Poland, Romania, Slovakia, Slovenia, Serbia and Montenegro, Tunisia, Turkey and Switzerland may enter the country without a visa for a period of 30 days with a normal valid passport.
A visa is also no longer required of visitors from the US, Israel, Japan, Cyprus, Hong Kong, Canada, Australia and New Zealand, for stays of up to 30 days.
A border tax of about $20 will be collected from such individuals on entering the country. If the planned stay is to be more than 30 days, or if traveling on a diplomatic or official passport, a visa is required and must be obtained in advance.
US citizens with regular passports intending to stay more than 30 days can get them free of charge under a reciprocal US-Bulgaria agreement, but a $20 processing fee is collected per passport. Travelers who have a one-year multiple entry visa for Bulgaria may stay up to 90 days altogether within six months. If a traveler comes to Bulgaria, stays in the country for 90 days and then leaves, he or she will not be able to enter the country within the next 90 days.
Although citizens of the countries listed above do not require visas for stays of up to 30 days, they should be able, on request, to show evidence of medical insurance valid for Bulgaria. The travel/medical insurance should be for at least $5000 and should cover emergency medical expenses, repatriation, transport of mortal remains, funeral and hospitalization. If the visitor has insurance of this type, a copy of the policy, with legible policy number, company name, duration of validity and sum of coverage or a letter from the insurance company including these data, should be submitted with the visa application.
If the traveler does not have such insurance, a visa application can be made without it, but the insurance must be obtained after the consulate has informed the applicant that the visa is approved. The visa will be issued only after proof of insurance is submitted.
Travelers who are not citizens of the US or the countries listed above are expected to provide a letter of invitation from a Bulgarian host, on a standard form, provided by the municipality, or a business partner, as well as a letter from their company or institution if they are traveling on business.
Transit visas allow a stay in Bulgaria of 24 hours or less. Airline tickets and evidence of right of entry into the next country of travel will be required.
Possession of airline tickets does not guarantee the granting of an entry visa.




     2. Import and Export Limitations

Upon crossing the state border of the Republic of Bulgaria passengers may import and export commodities that in type, quantities, and value are not of a commercial nature. These do not include objects the passenger carry for personal use and consumption objects.
Passengers have the right to import at no custom duty or import fees the objects necessary to the foreign individuals for their stay in the country, which in their type and quantity correspond to both purpose and the duration of their stay, as well as consumption objects: - tobacco products (passengers over 16 years of age) - cigarettes - 200 items, or other tobacco products - 250 gr.; - alcoholic beverages (passengers over 16 years of age) - wine - 2 litres, and alcoholic liquors - 1 litre; - other drinks: coffee - 500g. or coffee extract - 200g. tea - 100 g. or tea extract - 40g.; - perfumes - 50 ml. and toilet water - 250 ml.
Passengers who are under full 16 years of age are not entitled to duty-free import of the commodities listed above, except for medications.
Passengers older than 16 can import duty-free commodities acquired abroad other than those listed above of a total value up to US$ 100 or the equivalent in other currency units. For passengers under 16 the duty-free import rate for commodities acquired abroad is US$ 50 or their equivalent in other currency units.
Personal use objects, new and used, which a passenger may normally need during one's trip, taking into account all circumstances of the travel, are placed under the regime of temporary import with a full exemption of all customs dues. Re-exporting personal belongings cannot take place later than the moment when the natural person who has imported them is leaving the customs territory of the Republic of Bulgaria.




     3. Currency regulations

Foreigners may export and import Bulgarian banknotes and coins in circulation to the amount of up to BGN 10,000. Sums exceeding this amount may be imported and exported only with a permit by the BNB (Bulgarian National Bank), valid for a period of up to 90 days of its issuance date. The foreign persons may export convertible (hard) currency in amounts that do not exceed the amount of the foreign currency they had imported and declared. They can import unlimited amounts of foreign currency, which is to be declared.
Upon entering and exiting the customs territory of the Republic of Bulgaria foreigners obligatorily fill in a declaration after a sample for the following currency value they carry:
- Bulgarian banknotes and coins in circulation in amounts over BGN 10,000; - Bulgarian coins in circulation of numismatic value; - Foreign currency equal to more than US$ 1,000; - Shares issued by foreign entities in foreign currency, obligation notes, treasury-bonds, investment and depository certificates, cheques, bills of exchange, order bills, credit letters and other similar valuable papers; - Precious metals and precious stones and products of these other than the usual amounts for personal and family use - in type, weight, and value; - Coins, containing gold, silver and platinum - in type, weight, and value; - Other (hard) currency values.
The export is prohibited of articles, coins of gold, silver, and platinum of historic, archaeological, artistic, and numismatic value included, except for the cases when there is a permit issued by the Minister of culture.
Foreigners leaving the customs territory of the Republic of Bulgaria may export precious metals in the form of ingots, articles made of them and precious stones, as well as coins containing precious metals within the amounts imported and declared, as well as articles purchased within the country, whose equivalence does not exceed the amount of the foreign convertible currency imported and declared by them.


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