The Council Decision also affects aliens with residence permits in Bulgaria and Romania. Various provisions of the Convention implementing the Schengen Agreement of 14 June 1985 (the Convention) will now apply to Bulgaria and Romania.
Under Article 21 of the Convention, residence permit holders in Bulgaria and Romania can now travel visa-free within the Schengen Area for up to three months. This provision applies to aliens with valid Bulgarian or Romanian residence permits and valid travel documents (i.e., passports).
Bulgaria offers an attractive pathway for non-EU nationals to gain permanent residence. With an investment of BGN 1,000,000.00 (~€512,000.00) in approved Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs), applicants can obtain residence in Bulgaria.
These investment vehicles must have a net asset value (NAV) of at least BGN 5 million and must primarily focus on investment in Bulgaria. They may be existing products or ones custom-designed for an investor or a small group.
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Having studied, lived, and worked in China for almost 8 years, Ivan has strong intercultural skills and extensive knowledge of China and East Asia. Prior to joining NBLO, Ivan was a lecturer in the Chinese department at the University of Plovdiv, Bulgaria. His personal interests include current affairs and social media. He is fluent in English and has professional knowledge of Mandarin Chinese.
Source link : https://www.imidaily.com/europe/bulgaria-and-romania-join-schengen-visa-free-travel-by-air-and-sea-for-residence-permit-holders-from-april/
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Publish date : 2024-01-18 08:00:00
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