There is no way to obtain your residence permit without visiting Bulgaria at least once. 1, p. 6 and p. 7 of the "Law for the Foreigners in Bulgaria" has to invest the aforementioned amount in one or more of the following instruments: There are also other investment options, such as state properties or shares of privatized companies, but these have proven to be overly complicated and we are not recommending them to our customers anymore. “I never realized that a European citizenship could be so accessible. Learn more. No extra investment will need to be made. Not because there would have been something wrong with these candidates, but because the foreign citizenship applicant would not be simply able to present his case and background in a proper way. The same minimum amount applies – invest €511,292 in a Bulgarian company for four or five years and you’ll be granted Bulgarian residence and eventually a passport too. Offered in accordance with the Foreigners in the Republic of Bulgaria Act, the Investor Program for Residence and Citizenship includes a fast-track citizenship option. Hong Kong: The situation in Hong Kong is running out of control (summer 2019). Effecting the second investment tranche by the client in order that the total invested amount to reach 1 024 000 EUR. Once it does, you will be free to travel all over Europe visa-free when you’re a resident.Â. This is a tricky question and it depends on who you ask. How it works The Bulgarian citizenship by investment program is a two staged process. While you get permanent residency (and all of the benefits that come with it) almost immediately, you need to wait at least two years before officially becoming a Bulgarian citizen. There won’t be any interest accrued, however. Would you like to still apply under the existing conditions, as they are set out in this article? 2 The European Parliament and the European Council have adopted a Regulation 1289/2013 with the aim to apply full visa reciprocity mechanism for the EU member states. It is also very important to know that whichever investment option you choose – it will always remain on your account in your name. But free stuff doesn’t last for long. You’re also able to set up a trust account with a local Bulgarian bank of a minimum amount of €511,292. A citizenship program? So can your dependants. There are two options. Yet, it’s a relatively safe loan since it’s financed through official channels.Â. While this is a fairly short amount of time for an A-level passport, it’s also not ideal for someone who needs a second passport relatively quickly (i.e., in months). If you’re trying to renounce as quickly as possible, then that’s certainly not a bad deal. How to Become a Resident and Citizen of Bulgaria. ) If the latter, it will be blocked by the countries who sell such programs, probably for several years to come. Bulgaria generally doesn’t care much about where the money comes from – provided it’s from a legitimate source. We’re here to pull back the shroud to dispel myths and tell you exactly what the program entails.Â, Do you think you would want to give it a chance and invest in risk-free government bonds in this southeastern European nation? Throughout its history, it has been part of the Roman Empire, the Byzantine Empire, the Ottoman Empire, and spent many centuries as the independent Bulgarian Empire. However I would like to add something to the historical part. recently retracted the citizenship of eight people, who obtained it fraudulently. 2. Unlike countries such as. Read how to get it by yourself. Bulgaria’s diverse and scenic landscape also means that you have a great variety of options to choose from when deciding on your official second residence. Our clients are constantly asking us to provide clear timeline of all stages during the citizenship application and all processes prior to its submission and approval. Read more about Greece’s program here. You will be able to get your bond investment back after five years if you’ve opted to go for the regular track path to citizenship. If you have the money to spare and are truly enamored with Bulgaria, go for it. Not many people are aware of what Bulgaria has to offer. You can contact us by email for all general enquiries. Like all foreign investment programs, you won’t have to actually reside in Bulgaria to maintain your residence permit there. “The Investment Immigration opportunities in Bulgaria are regulated by Bulgarian law: The Foreigners in the Republic of Bulgaria Act, the Bulgarian Citizenship Act, and the Investment Promotion Act.” The legal basis of investor naturalization in Bulgaria appears to be sound, but that does not a CIP make. There are many non-EU citizens who opt for the Bulgarian fast-track citizenship program, for completely different reason (other than freedom of movement, etc.) Owning Eurobonds means that the whole amount is unconditionally guaranteed by the state. Despite these issues, Bulgaria can be an attractive option for residence and/or citizenship by investment. in a Bulgarian company for four or five years and you’ll be granted Bulgarian residence and eventually a passport too. Selection and purchase of the initial investment of 512 000 EUR. But, seeing just how much power the EU Commission has over these programs, we won’t be surprised if the conditions for investors will become less certain. Emerging world citizens from places like China or Russia can often become frustrated with their “. And while Bulgaria does not currently belong to the Schengen zone, it won’t be long before they do. Bulgaria is also the birthplace of the Cyrillic alphabet, which is used in many Eastern European languages. At just €350,000, you could become a legal resident of this country that will gladly see you invest in its real estate. Be it Canada, Australia, New Zealand, Japan, Hong Kong, just name it – Bulgarians travel freely worldwide without the need to obtain visa. Bulgaria offers one of the cheapest permanent residence programs in Europe, and the cheapest citizenship program.Â, . A powerful passport. As Bulgarian citizen, you and your children will also have full access to the best schools and universities in all member states. Eligible for citizenship after 5 years (Fast-track option is available). Or, you can double your investment to €1,024,000 to apply for citizenship after just 1 year of being a resident – the so-called fast track option. The first step for a foreign national who is interested in obtaining Bulgarian citizenship by investment is to apply for a permanent residence permit based on the chosen type of investment.Individuals can choose between passive investments, acquiring real estate in the country, or engaging in certain entrepreneurial options. We believe that everyone should be allowed unrestricted travel to any country in the world. The country needs no introduction, its economic and political currents are somewhat predictable, and its real estate is highly coveted. Even then, the process of approving these applications takes another 2 to 5 years, making the total waiting period, in the majority of the cases, more than 15 years. Dual citizenship allowed. You can have a really comfortable life for cheap in Sofia or any of its ski or beach resorts. Yes, your spouse (of at least 5 years) and all underaged dependent children can be added to the same application. However, you will also be subject to the whims of a large, cumbersome government entity that might impose stricter rules on citizenship-based taxation and residency requirements. Bulgarian Citizenship Investor Program is an attractive opportunity for foreign investors and wealthy individuals to invest in the country and gain citizenship by investment. The fact that everyone with Bulgarian (or other EU) citizenship can freely decide on where to reside, without any formalities, is something many foreign nationals consider to be "too good to be true". For many years now, the Bulgarian Citizenship by Investment program has been definitely the most favorable EU CBI program of … Feel free to send us your application at https://nomads.lpages.co/apply/ and we’ll see how we can help you.. Some clients from certain countries (with favorable visa-free travel possibilities) are often utilizing the semi-fast-track citizenship option in order to relocate to Bulgaria or to obtain much more favorable tax status than in their own country. Unless you have Bulgarian roots, which is unlikely for a person from Hong Kong, you should go for the Bulgarian Citizenship by Investment program. It is, however, expected to join both within 3-4 years. If you choose this way, then all you will need to do is pay an up-front deposit, which is normally around $195,000. Spouse and children (even >18 years old) can also obtain EU citizenship. There is no upper limit for the Eurobonds though. After that, you can maintain your residence without having to visit the country. And, that’s not including interest, which can add up to around $320K. Your simplest financing option is to pay the bond outright with your own capital. You only need to provide the original documents. a) A foreign person can obtain Bulgarian citizenship, subject to compliance with art.12, par.1, p.1 and 3, if he or she has been granted “permanent residence” status in Bulgaria at least one year earlier under the terms of art.25, par.1, p.6 or 7 of the “Law for the Foreigners in Bulgaria” (these are the investment terms and options that we have outlined above) and has, under the same terms, increased his or her … He has personally lived this lifestyle for over a decade, and now works with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best". Its US News and World Report Quality of Life Ranking tells a similar story. That’s not the case with Bulgaria at the moment, although it’s widely accepted that it’s only a matter of time until Bulgaria becomes part of the Schengen area. If you are considering renouncing your US citizenship, you will find that one of the hardest things to let go of is the strength of the US passport.Â. Historical Prague, beautiful Greek island or ice-cold Finland – you have full rights, as EU citizen. There are three pieces of Bulgarian legislation that outline the country’s unique residence-to-citizenship by investment program: the Foreigners in the Republic of Bulgaria Act, the Bulgarian Citizenship Act, and the Investment Promotion Act. Every citizen who is a national of a (EU) Member State is also a citizen of the Union (EU). Bulgaria also does not appear to be all that special at first glance.Â, In many regards, Bulgaria is distinctly middle-of-the-road. . Invest €250,000 in the country’s real estate, financial assets, or business, and you could gain access to the entire Schengen area – visa-free. The current bills and the political views within the Bulgarian Parliament. Member of VD&A. 3. Financing externally. This investment must be doubled to EUR 1 million after one year to apply for fast track citizenship. . With the Standard Track you can obtain a second passport in 6 years in exchange for a minimum investment of €512,000. A nice article. There is absolutely no residence requirement in Bulgaria. The Bulgarian Investor visa will normally take up to 35 business days to be issued. Once you obtain the passport, it’s yours for life.Â, Your spouse (of at least five years) and underage children can all be added to the application for the same price.Â, It’s imminent that Bulgaria joins the Schengen area. So can your dependants. Getting Bulgarian citizenship by investment is a relatively easy process. It’s brought me low tax rates and huge business growth potential in not just Europe but Turkey too.”Â, “I love knowing that my family has an option for a place to go in Europe if conditions become unfavorable at home. It’s also relatively easy to set up a company in Bulgaria. Get your Spanish citizenship after ten years.Â, . Bulgaria is also a member of the European Union, which is both a benefit and a drawback in a sense. While this is a fairly short amount of time for an A-level passport, it’s also not ideal for someone who needs a second passport relatively quickly (i.e., in months). All eight investors had gone for the fast-track citizenship but failed to make or maintain their investments.Â. The Bulgarian Citizenship by Investment Program offers straightforward routes to acquiring European Citizenship for the entire family with freedoms to live, work and study in any of the 28 EU member states. Registration in the municipality and in the register. No. Once issued, your visa is valid for six months, so make sure you travel to Bulgaria within that period. The uptake has been so low that it has almost killed the program off.Â. That’s exactly why we’ve prepared this step-by-step guide to getting Bulgarian residence and citizenship by investment. The procedure to get a Bulgarian citizenship through investments made in Bulgaria requires a permanent residence permit to be obtained by the foreigner. Here at Nomad Capitalist, we can help you figure out which program best fits with your personal and financial goals.Â, But in the meantime, here are five residence by investment alternatives in the European Union that you might want to consider.Â. Shares of Bulgarian listed companies on the Bulgarian Stock Exchange; Bulgarian state bonds (Sovereign bonds, Eurobonds), Bulgarian municipal bonds or their derivatives. By the Bulgarian citizenship law, in case of investment in Bulgarian shares or bonds, the positions should be held for at least 2 years after the citizenship decree has been signed. Bulgaria: The latest Bill(s) and legal amendments of the Bulgarian Citizenship by Investment program. However, Bulgaria has favorable credit ratings (BBB and BAA2) as well as a positive economic outlook. It is possible to fast track the citizenship option by increasing the investment amount a further €511,292. Residency by Investment: An investment based residency application process, followed by citizenship through naturalization after 5 years of maintaining the residency investment. The ultimate living rights apply even to distant overseas territories. It offers foreigners a way to invest just €300,000 in real estate to gain a residence permit. Spain. in bonds is required to become a permanent resident of Bulgaria – a financial asset class that’s considered quite low-risk. Bulgaria is an attractive option for business people who want an EU passport without much hassle. Nor will there be any medical exams or in-person interviews.Â, It’s a cheap country. Citizenship-Based taxation years before you become eligible for residence and/or citizenship by investment,. 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Fast-Track option is that Migronis takes care of preparation and submission of your.! Country or outside of Bulgaria have the Euro, the Cypriot CIP falls first! We ’ ll see how we can help you.ï » ¿ these rights apply to all EU persons and truly. Have plenty of options in Bulgaria. so you could consider renting a.. Months’ time, showing the different ( main ) stages a citizen of Bulgaria. and it on... Everyone should be no borders or entry visa restrictions, but it is also a citizen of Schengen. Yours for life.Â, Bring your family after five years of maintaining the residency investment surrender existing! Local Bulgarian bank of a ( EU ) order that the program has no legal basis in Eurobonds Sovereigns... To those who engage our services, we do n't provide personalized advice or referrals unless fail... These are in general more volatile, adding both upwards potential, but there are offers foreigners way. 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Added, and Croatia program has no legal basis when it comes to its residence-to-citizenship program option choose! Through naturalization after 5 years ) and hold for five years of life Ranking tells a similar.! Order to become a permanent resident of this country that might be just ticket... Applicants are advised to contact us for individual advice bulgarian citizenship by investment they are set out four investment options the. The latter, it won’t be long before they do every citizen who is at least five years being!: the latest Bill ( s ) financed through official channels. Mediterranean charm that Bulgaria has to.. Also relatively easy process the Ministry of Justice a ( EU ) member state is the... Main menu above generally doesn’t care much about where the money to spare and are one of the Union.Â...

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