Bulgaria

Investor Program for Residence and Citizenship

Grenada immigration

Bulgaria Investor Program for Residence and Citizenship

The ideal gateway into the European economy and way of life, Bulgaria is diverse, culturally rich, and perfectly placed for working and travelling in and around the continent. We can help you get residence through the Bulgarian Immigrant Investor Program (BGIIP) for non-European citizens. Our experience with business immigration programs and the local governmental bureaucracy will secure your investment and smooth the progress of the application process for residence.

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As one of the youngest EU member states, Bulgaria boasts a rich and diverse culture, temperate climate, and ideal location in Southeast Europe — and the Investor Program for Residence and Citizenship in Bulgaria helps get you there faster.

There are several key advantages to becoming a Bulgarian resident, and hence part of the European Union:

  • EU membership and NATO membership
  • Macroeconomic and financial stability
  • EU’s most favourable taxes:
    • Flat 10% corporate income tax
    • Flat 10% persoanal income tax
  • 0% in high-unemployment areas
  • Europe’s lowest operational costs
  • Well-educated and highly-skilled labour force
  • 22% of population holds university degree
  • Government support for priority investment projects
  • Linking Europe and Asia

Investment criteria

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. It is also one of the fastest programs to lead to residence. To qualify for application, you will need to meet one of the requirements outlined in the “Investment Options” section.

Application criteria

In addition to making a financial investment, applicants must also meet the following requirements:

  • Non-EU citizen;
  • Valid passport or another substitute foreign travel document;
  • For the full investment option, the net worth requirement is €511,292;
  • Documents supporting the source and origin of the declared and invested funds;
  • Proof that the applicant has no criminal record;
  • Attest the Power of Attorneys and the Investment Agreement;
  • Payment of application fees;
  • Make the minimum statutory trips to Bulgaria.

Full Investment

Applicants choosing this option must deposit BGN 1 million (€511,292) in a Governmental Bond Portfolio for an investment period of five years, with no further payment required. At the end of the five-year period, the full amount of BGN 1 million (€511,292) will be returned to the investor without any accrued interest. The investment is fully guaranteed by the government bonds.

Financed Investment

Clients can leverage their capital by choosing to finance the required investment amount through a European Bank. Please contact us for cost of financing and further details.

The fast-track option allows investors to apply for citizenship faster by doubling their investment. The requirements for this option are as follows:

  • Have at least one year of permanent residency status;
  • Double the investment by putting €512,000 in government bonds or in the capital of a Bulgarian company, which is carrying out a Priority Investment Project (as defined in the Investment Promotion Act);
  • Hold second additional investment for a period of two years.

Financing options are available to qualified applicants. Citizenship applications for participants in the fast-track citizenship program are examined under express procedure.

In accordance with the Bulgarian Citizenship Act, foreign investors who hold a permanent resident permit for at least five years are eligible to apply for Bulgarian citizenship. The requirements for those who opt for the regular program are as follows:

  • Must be over 18 years old;
  • Must have maintained permanent resident status and a valid residential address for the past five years;
  • Must have never been sentenced by a Bulgarian court for a capital offence or accused in criminal proceedings for such a crime (unless he/she has been rehabilitated).

Investors will need to file a citizenship application and pass medical tests in their current country of residence.

The Bulgarian Immigrant Investor Program

  • Fast process to residency (six to nine months);
  • Fast-track option allowing for citizenship within two years;
  • Special exemption from physical residence enforced with legislation;
  • Government-approved investment and available financing options from banks;
  • No language requirements for residence or citizenship;
  • No obligation to relinquish current nationality;
  • Lowest tax rates and free trade environment within the EU.
  • Free movement within the Schengen zone, after Bulgaria becomes a member state;
  • Access to high quality healthcare in Bulgaria and the EU;
  • Conditional tax exemption on world income.
  • Unrestricted right to live, work and study in Europe;
  • Right to own land in a EU country.
  • ARTON INDEX SCORE 72%

Updated yearly, the Arton Index is an overall assessment and comparative benchmark of the country and its investment program.

FAQ 1: CAN I STUDY IN ANOTHER EU COUNTRY AS A BULGARIA PR HOLDER?

Yes, you can but you will be classed as a foreign student and will need to pay additional student fees. The European Commission has however launched many exchange programs between the EU Universities to enable students to have easier access to study abroad.

FAQ 2: HOW MANY TRIPS DO I HAVE TO MAKE TO BULGARIA?

There are two statutory trips for each applicant at different stages of the process.

FAQ 3: HOW LONG DOES IT TAKE TO HAVE MY BULGARIAN ID CARD?

Under the express procedure, the cards are ready on the third business day following the day of application.

Amendments to the Investor Program for Residence and Citizenship in Bulgaria which came in force on February 23rd, 2013.

  • Language Competence Requirement
    The language competence requirement for applicants who invest in government bonds is WAIVED.
  • Relinquishment of the current nationality
    The relinquishment of the current nationality requirement for applicants who invest in government bonds is WAIVED.
  • New Fast Track Option
    A new fast track option that leads to Citizenship is introduced for applicants who invest in government bonds.

The requirements for the Fast Track Option are:

  • for the applicant to have at least 1 year of Permanent Resident status;
  • to double the investment by putting €512,000 in government bonds or in the capital of a Bulgarian company which is carrying out a Priority Investment Project (as defined in the Investment Promotion Act); and
  • hold second additional investment for a period of two years.

Furthermore, new investment options were introduced:

1) Entrepreneurial Options: Risk capital with job creation

  • Leading to prolonged residence. The minimum amount of €125,000 must be invested in risk capital. The foreign person must invest at least 50% of the capital in a Bulgarian company operating in one of the underdeveloped regions and must create minimum 5 jobs for Bulgarian citizens. The residence must be renewed every year.
  • Leading to permanent residence. The minimum amount of €250,000 must be invested in risk capital. The foreign person must invest at least 50% of the capital in a Bulgarian company and create minimum 10 jobs for Bulgarian citizens. There is physical exemption. There is no requirement for language competence and relinquishment of the current nationality for the citizenship application in 5 years.

2) Real Estate Option

  • It leads only to prolonged residence and requires minimum investment of €300,000. The residence must be renewed every year.

These new options will enable us to enrich the portfolio of additional products and services provided to our partners and their clients.

 

 


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