Bulgaria Citizenship – IPC

Bulgaria Citizenship

THE FASTEST AND EASIEST WAY TO GET CITIZENSHIP

BULGARIA PERMANENT CITIZENSHIP:

INVESTMENT OPTIONS
The following investment options are now effective, where certain conditions may apply:
  • Investment of BGN 500,000 (€255,646) in the capital of a trade company under which tangible or intangible assets are acquired and 10 or more jobs for Bulgarians are created; the reason for maintaining the foreigner’s permit and the investment must be proven to the Ministry of Economy
  • BGN 1 million in collective investment schemes or alternative investment funds (minimum net asset value requirements apply in both cases) licensed and registered by the Financial Supervision Commission and whose investment strategy is targeted predominantly towards Bulgarian companies and which solely invest in assets and/or bonds of Bulgarian companies, including special purpose investment companies
  • BGN 1 million investment in rights under concession contracts on the territory of the Republic of Bulgaria
  • BGN 2 million investment in the share capital of a Bulgarian trade company implementing a priority investment project certified under the Investment Promotion Act and verified by the Ministry of Economy or in shares or bonds of Bulgarian companies, traded on a Bulgarian regulated market or multilateral trading facility in Bulgaria
  • BGN 6 million investment in the capital of a non-publicly traded Bulgarian company
The requirement to maintain the investment for a period of at least 5 years remains.

FAST-TRACK TO CITIZENSHIP
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 original investment (€512,000) under the same conditions as the original investment; or
  • Invest at least BGN 1 million in the capital of a Bulgarian company implementing a priority investment project certified under the Investment Promotion Act and certified by the Ministry of Economy; or
  • Those who have opted to invest in a company and create jobs, to have increased their investment by at least BGN 1 million as a result of which at least 20 new jobs had been created.

WHY INVEST IN BULGARIA:

  • Opportunity to obtain passport after only 2 years of investment.
  • Visa free travel to 169 countries including Canada and Australia.
  • Spouse and dependent children with no age limit will obtain passports.
  • You are not required to live in Bulgaria prior to or during the application, or even after citizenship has been granted.
  • You only need to visit Bulgaria once for biometric identification.
  • You are not required to be fluent in Bulgarian language.
  • Your investment will be refunded.
  • You can sell the ETFs & AIFs at any time.
  • Bulgarian citizens are full citizens of the European Union.
  • You can live, work, do business or study in Bulgaria and anywhere in the 28 EU countries without any restriction.
  • You can get medical services in Bulgaria and in EU countries.
  • You can acquire a land or property in Bulgaria and in many EU countries.
  • You can vote in Bulgaria.
  • You can open bank accounts in Bulgaria and in any EU country.
  • Bulgaria allows dual citizenship.
  • Shorter way for spouse to get Bulgarian citizenship; 3 years after the investor has been granted Bulgarian citizenship or after holding permanent residence for 3 years.

ABOUT BULGARIA:

  • Official Name: Republic of Bulgaria (Republika Bŭlgariya)
  • Form of Government: Unitary Parliamentary Republic
  • Capital: Sofia
  • Population: 7 million
  • Official Language: Bulgarian - Small % of Turkish
  • Currency: Bulgarian LEV(BGN)/ Euro
  • Area: 110,994 km2
  • Education: Bulgarian- Primary education to Upper Secondary education - Compulsory from ages 7 to 16
  • Culture: Bulgarian - grounded on Eastern Orthodox Church Influence - Interesting Blend of Thracian Slavic and Bulgar Traditions
  • Environment: Mountainous, plains, Black Sea Coast ,rivers and lakes
  • Health Care:Mixed public-private Healthcare financing system. - Does not meet the standards of most western European countries - Poor health infrastructure, poor hospital and clinic conditions
  • Taxation: Flat rate of 10% - Value added tax at flat rate of 20% on virtually goods.
  • Tourism: Oldest country in Europe, Millions of tourists visit Bulgaria, historical heritage
  • Weather: Temperate-continental Climate- Hot summers, Cold winters
  • Politics: Stable Political Parliamentary Democracy
  • Schengen: Not a member
  • Religion: Eastern Orthodox Christianity - Small Percentage of Roman Catholic and Protestants.

QUALIFICATION & INVESTMENT CRITERIA:

  • Must have maintained permanent resident status and a valid residential address for the past five years.
  • Be over 18 years old.
  • Have a clear criminal record obtained in your country of residence.
  • Must have never been sentenced by a Bulgarian court for a capital offence or accused in criminal proceedings for such a crime unless rehabilitated.
  • Be a person not sanctioned by the EU.
  • Recent photo passport under some requirements.
  • Pass medical tests in their current country of residence.
  • Sales / purchase contract for the type of investment needed.
  • Proof of source of wealth: documents providing from where the wealth has been derived.
  • Proof of source of investment funds: supporting with bank statements for last 12 months, owned properties contracts…
  • Proof of annual income –Audited accounts for business owners, HR letter, bank account interest, rental contracts…
  • A completed citizenship application form must be filled out.
  • Regarding the ETF investment option:
  • The ETF should be licensed in Bulgaria.
  • Its investment strategy must be related to the trading shares of Bulgarian companies listed on the Bulgarian Stock Exchange.
  • The ETF can be purchased through a Bulgarian-based or foreign broker (globally).
  • No requirements to open a banking account in a Bulgarian bank to buy them.
  • Government fees to be paid:

    Application fees:
    • Family of two: € 20,000
    • Each dependent up to 5 children : € 5,000

    Due diligence fees:
    • Main applicant: € 7,500
    • Dependents age between 14 – 18: € 3,000
    • Dependents above age 18: € 5,000

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