Updated last 26.03.2021
This section provides the following information:
- What is the priority investment project and investment class “A” and “B” certificate issuance procedure?
- What is the investment class “C” certificate issuance procedure?
Investors may take advantage of privileges and relieves, envisaged in the Investment Promotion Act (IPA) , only once a certificate for the investment class or priority investment project is issued. The certificate is issued by the Minister of Economy (for class “A” and “B” investments and priority investment projects) or by the mayor of the municipality (for investment projects of municipal importance – class “C” investments).
What is the priority investment project and class “A” and “B” certificate issuance procedure?
 | Filing of application to the Invest Bulgaria Agency (IBA) |
As an investor you should file an application in a standard format [1] in order to obtain investment class “A”, class “B” or priority investment project certificate to the Executive Director of IBA. The template contains instructions which should be followed when filling-in the application. The investment promotion measures that the investor would like to take advantage of should be stated. The investment project and the required forms and documents, indicated in the standard form [2] should be attached to the application. All documents in foreign language should be provided with a translation into Bulgarian. The application and the respective attachments thereto may be filed both as a hardcopy, and electronically, signed with a qualified electronic signature (QES).
| Important to know | |
 | In accordance with art. 4, para 1 of the Rules on the Implementation of the Investment Promotion Act (RIIPA) the application for the issuance of a certificate should be filed before the inception of the work on the investment project [3]. The preparatory activities, such as obtaining permits and feasibility studies are not considered inception of the works on the project. |
 | Check of the documents and evaluation of the investment project |
The Executive Director of IBA should check the documents filed and should evaluate the investment project. The investment project is evaluated using a methodology approved by the Minister of Economy (the current methodology is accessible at the following web address. If discrepancies or gaps are found during the check of the documents, the Director informs the investor and gives a term of two months for the irregularities to be rectified. Once the documents are checked and the investment project is evaluated, the Director sends to the Minister of Economy a proposal for the issuance of a certificate. The proposal is sent to the Minister of Economy within 30 days as of the filing of the application under point 1 or the rectification of the discrepancies and / or gaps.
 | Issuance of a certificate |
Based on the evaluation of and the proposal from the Executive Director of IBA the Minister of Economy issues a certificate setting the investment class as class “A”, class “B” or as a priority investment project.
| Fee | No fees are due for the issuance of the certificate. |
| Term | For the issuance investment class certificate: 14 days as of the receipt of a well-grounded proposal from the Executive Director of Invest Bulgaria Agency for the issuance of an investment class certificate. |
For the issuance of a priority investment project certificate: the Minister of Economy submits to the Council of Ministers for approval Memorandum of Understanding for the implementation of the project within 30 working days as of receipt of a well-grounded proposal from the Executive Director of Invest Bulgaria Agency for the issuance of priority investment project certificate. The Minister of Economy issues the certificate after the passing of a Resolution of the Council of Ministers.
What is the procedure for the issuance of investment class “C” certificate?
| Filing of an application |
When the investment project is of municipal importance the investor should file to the mayor of the respective municipality an application in a standard format [4] to receive a class “C” investment certificate. The investment project and additional documents required by the respective municipality should be enclosed to the application. It should be pointed out that each municipality is independent in setting the procedure and terms and conditions for the promotion of class “C” investments and does that in an ordinance, therefore the documents required may vary. All documents in a foreign language should be submitted with a translation into Bulgarian. The application and the respective attachments thereto may be filed both as a hardcopy, and electronically signed with a QES.
| Check of the documents and evaluation of the investment project |
The mayor of the municipality should check the filed documents and evaluate the investment project. The investment project is evaluated using a methodology approved by the Minister of Economy (the current methodology is available at the following web address. If discrepancies or gaps are found during the check of the documents, the mayor informs the investor and gives a term for rectification of the irregularities. Once the documents are checked and the investment project is evaluated, the mayor sends to the municipal council a proposal for the issuance of a certificate. The proposal is sent to the municipal council within 30 days as of the filing of the application under point 1 or as of the rectification of the irregularities.
| Issuance of a certificate |
The municipal council makes a decision for the issuance of the class “C” investment certificate. Based on this decision the mayor issues the class “C” investment certificate.
What are the circumstances in which there may be refusal to issue a certificate?
Despite the type and class of the investment, refusal to issue a certificate is originated when the circumstance set out in art. 19a of the IPA exists. The grounds listed below are among the grounds for the pronouncement of a refusal to issue a certificate:
- Discrepancies between the investment project and the requirements to the respective investment class;
- Existence of discrepancies and / or gaps in the documents provided with the application for the issuance of a certificate that are not rectified within 6 months as of the date of the filing of the application;
- non-compliance of the person submitting the investment project with the legal requirements set out in art. 13 of the IPA.
| Important to know | |
 | Additional information is available at the following websites of ISA and the Ministry of Economy: |
[1] Appendix 1 to RIIPA
[2] The forms required are available at the following web address
[3] Inception of the work on the investment project is the commencement of the construction works, related to the investment or undertaking a binding commitment under an order for equipment or any other commitment that makes the investment irrevocable.
[4] Each municipality draws up a separate form which should be accessible on the website of the municipality.