Bulgaria (On hold)
BULGARIA'S RESIDENCY & CITIZENSHIP PROGRAMME FOR INVESTORS
THIS PROGRAM WAS CLOSED IN 2022 following pressure from the EU.
The Bulgaria residency and citizenship by investment programme offers investors the potential to acquire permanent residency in 6 to 9 months and full EU citizenship in just over five years in exchange for a government bond investment into the country.
There are no minimum physical stay requirements and for an additional investment, citizenship can be fast tracked to two years.
The goal is to attract foreign investment from wealthy business owners and entrepreneurs and bring foreign capital into the country. The legislative framework provides an opportunity for investors looking to obtain a European Union citizenship with a straightforward application process and clear requirements.
Low-risk investment, fully guaranteed by the government of Bulgaria.
Visa free travel to 170 countries, including China.
Lowest tax rates within the EU.
Same rights as any EU national to live, work, study in any of the 28 EU countries, including Norway and Switzerland.
Free-trade and lowest tax rates within the EU
6 to 9 months for residency
Citizenship can be fast-tracked within two years
Bulgarian language is not a requirement
Dual citizenship allowed
Financing available from banks and investments are government-approved
No requirement to live or spend time in Bulgaria
Visits required to apply
INTERESTING INFORMATION
Bulgaria’s passport is ranked 17th best in the world.
OFFICIAL LANGUAGE
Bulgarian. English and Russian are the most commonly spoken foreign languages.
MEMBER
UN, EU, Council of Europe, OSCE
CURRENCY
Bulgarian Lev (BGN), is tied to the EUR.
POPULATION
7,05 million
TOTAL AREA
110 994 km² (42 885 sq mi)
GDP per capita
20,050.00 USD (2017)
Soul-stirring mountains rival golden beaches, while cities hum with nightlife and art. Within Bulgaria’s beguiling blend of nature and history, unforgettable adventures are guaranteed. (Lonely Planet)
INVESTMENT REQUIREMENTS
The Bulgaria residency and citizenship programme requires the investor to make an economic contribution to the country as well as meet certain other requirements as prescribed by the Government. Following this, and subject to thorough due diligence, background and application procedure checks, the applicants and their families are granted permanent Bulgarian residency and subsequently full EU citizenship.
Investors must meet one of the following investment requirements:
Full Investment of EUR 511,292 000 in Government Bond Portfolio
The investment must be held for a period of five years and will be returned in full to the investor at the end of the holding period.
Fast Track Option of EUR 1,024 million Investment
By doubling the full investment to EUR 1,024 million (BGN 2 million) citizenship can be obtained within 2 years.
Financed Investment Option
By choosing to finance the required investment amount through a European bank, applicants can leverage their capital. A non-refundable handling fee is charged (starting at EUR 270 000)
Government and professional fees apply.
Other fees may be due depending on the size of family and number of applicants. Please contact us for a personalised cost breakdown.
REQUIREMENTS
The requirements for the Bulgarian residency and citizenship programme are as follows. Applicants must pass a due diligence test and prove legitimate source of funds and source of wealth.
The applicant must have a clean criminal record and be over the age of 18.
Applicants must be in possession of valid travel documents.
The applicant must be a third country national. They cannot be a citizen of the EU.
Applicants must make the minimum statutory visits to Bulgaria.
DUAL CITIZENSHIP
Bulgaria allows dual citizenship. South Africa also allows dual citizenship provided an application is made to the Department of Home Affairs.
TRAVEL AND BENEFITS
Bulgarian Residency allows visa-free travel to Croatia, Romania and Cyprus.
After 5 years of residency one can apply for citizenship (or after 2 years with the fast track option). Citizenship allows the holder the right to live, study and work anywhere in the European Union. Bulgaria is a full EU member and therefore with a Bulgarian citizenship, investors and their families have the same rights as any other EU nationals.
A Bulgarian passport allows visa-free travel to more than 170 countries, including European Union countries.
FAMILY REGROUPING
Bulgaria is a family friendly country and allows the spouse and children of all ages to be included in the application.
TAX
Bulgaria has a double taxation agreement with South Africa, which can add an attractive advantage for some investors.
Bulgaria offers one of the lowest tax rates and a free-trade environment within the EU as well as conditional tax exemption on global income.
Please note, we strongly encourage clients to obtain professional tax advice.
PORTUGAL - COUNTRY INFORMATION
A mountainous interior, Black Sea coastline and rivers, including the Danube, form part of this Balkan nation’s diverse terrain. Located in Southeast Europe, Bulgaria is ideally situated for working and traveling around the continent. With its warm and diverse culture and temperate climate, Bulgaria embodies the wonderful lifestyle and powerful economic access that Europeans enjoy.
Cultural influences of Persian, Slavic, Greek and Ottoman heritage delivers a rich experience of music, traditional wear and dance, and crafts. Bulgaria’s capital city is situated at the foot of the domed Vitosha mountain and dates back to the 5th century B.C. Vitosha National Park offers excellent hiking and skiing.
Plovdiv, Bulgaria’s 2nd largest city, is the European Capital of Culture for 2019.
The Rila Monastery has preserved Bulgarian culture through the dark centuries under Ottoman rule and during a revolution in the 19th century. The monastery grew from a 10th century hermit’s hut and after a 1000 years of uninterrupted spiritual practice is considered one of Bulgaria’s greatest treasures.
The Black Sea coast offers a patch of sand for every liking, from luxurious resorts, all-night clubbing to charming seaside towns and secluded beaches.
CONTACT US TO MEET WITH A PRIVATE CLIENT ADVISOR: info@lio-global.com or complete the form: Here
