BULGARIA

A perfect place to work, establish business, lead a plush lifestyle and enables ease of travel all across the European continent.

Bulgaria is the 16th biggest country in Europe with Sofia, one of the largest cities as its capital and is strategically located connecting Europe to Africa, Middle East and Asia. Its promising business economy is predominantly boosted by private sector and has commendably emerged as a country with the lowest public liability in the whole of the European Union. Its vibrant and rich culture and temperate climate is an added attraction.

Having a Bulgarian passport and second citizenship is big plus for all individuals and businesses aiming at free trading environment, reasonable taxation, operating costs, and capital investment, quick and easy access to the countries that are part of the European Union.

Advantages of the Bulgarian Citizenship and Residential Investor program are as follows

  • Allows residency status within a period spanning from six to nine months
  • A fast-track choice for citizenship is possible in less than two year’s time
  • No specification on language pre-requisites
  • There is no mandate to give up your present nationality
  • Can obtain financial assistance from banks in addition to government authorized funds
  • Not liable to own a physical dwelling imposed with legislation
  • Get easy visa access to non-European Union countries too
  • Citizens has the right to posses land in almost all countries within the European Union
  • Permanent residents can enjoy outstanding healthcare facilities not only in Bulgaria but anywhere in the EU
  • Eligible for conditional exemption on taxes pertaining to world earnings
  • Permanent residents can benefit from free education

Who can qualify to become a citizen or permanent citizen?

According to the Foreigners in the Republic of Bulgaria Act and Bulgarian Citizenship Act

  • The applicant should be above 18 years of age
  •  Have either a foreign travel certificate or valid passport
  • Must be able to prove your permanent residential status with  a minimum of five years stay
  •  Should be able to submit supporting documents for the money source made in investments
  •  Show proof of the investment agreement and the power of attorneys
  •  Should not be a citizen of any European Union country
  •  Should not have a criminal record

Investment choices – an easy way to obtain citizenship in Bulgaria through (BGIIP) the Bulgarian Immigrant Investor Program

First option:

Those who go for this choice are expected to deposit 1 million in Bulgarian currency (511,292 Euros) in any of the Government bonds for a minimum of five years as a one-time payment. At the end of the five year term, guaranteed return can be got in full but without any accumulated interests.

Second option:

Investments can also be made via a European bank.

Third Option: (Fast-track option):

Investors who go through this channel by investing twice the normal amounts are more likely to get citizenship quickly. To avail this facility the applicant should have been a permanent resident for a minimum of one year and should double the amount for buying government bonds of 512,000Euros or invest in any Bulgarian company to boost its capital that is involved in an important project as specified in the Investment Promotion Act. Possessing a second investment in addition to the above for a minimum of two years will expedite the process.

Approximate Time Frame – Main Applicant

First two Months:

Get the “Second Citizen” Retainer Agreement signed and first professional fees payment to “Second Citizen”made.

Relevant documents are collected and a file created. Application fees paid to the Government.

First appointment for signing the document is got at a Bulgarian consulate and file readied for submission.

The main applicant makes the investment transfer and issuance of investment certificate takes place.

Third and Fourth Month:

Second appointment for Visa D application is got at a Bulgarian Consulate.

Fifth, Six and Seventh Month:

Grant of Visa D which is followed by the first Bulgarian trip to submit PR (Permanent Residence) application.

The applicant is expected to pay the “Second Citizen” Professional Fees for file submission.

Eighth and Ninth month:

Get the PR or Permanent Residence approval, followed by the second Bulgarian trip for submitting the Permanent Residence card application.

“Second Citizen” professional fees (final payment) made.

Bulgarian Permanent Residence card received and three days for application granted.

Time frame – Family members

Family members will be eligible to apply once the main applicant has received the Bulgarian Permanent Residence card. It might take a minimum of six months for the family members to get the PR cards and each family member who is applying for it has to visit Bulgaria at least two times.

After one year of PR, the applicant can make twice the investment of 511,292 Euros in Government bonds and then apply for citizenship while retaining the investment for another two years time.