Bulgarian Investment Immigration Program
The investment citizenship program in Bulgaria is rather attractive by the opportunity to obtain a passport relatively quickly. Within two years, the investor and his family members will be able to become citizens of an EU country. The applicant is not required to reside in Bulgaria or take a language proficiency test. The money can be returned after obtaining citizenship. The advantages are free residence in Europe and travel around the world. If you wish, you can become a tax resident of Bulgaria.
Program's details
- €257,000 minimum investment
- Return of investment in 5 years
- For the whole family spouses, children, parents
- Accommodation, study, work in any EU country
- Free entry to more than 150 countries of the world
- Term of obtaining citizenship 5 years
- Citizenship after 2 years if you double the amount
- Second passport without giving up the first one
-
About the Program
The Bulgarian Investment Citizenship Program was launched in 2009. It consists of 2 stages: at first the applicant and his family receive permanent residence permits, and then passports. Bulgaria is not part of the Schengen zone, therefore, on the basis of only permanent residence permit, it will not be possible to travel around Europe, however, a visa is usually issued within 1 day.
In the basic version, it is necessary to invest 1 million Bulgarian levs (about € 512,000) in the Bulgarian economy. However, there is an option to invest in a Bulgarian company and create 10 job positions for local citizens, then the minimum amount is reduced to € 257,000. The applicant receives permanent residence permit within 6 months, and after five years - citizenship. After that it will be possible to return the investment.
An expedited procedure was launched in 2014. The initial payment remains the same, the applicant receives permanent residence permit, and a year later he doubles his investment and immediately applies for citizenship. This way you may obtain your Bulgarian passport in two years. It is important to maintain the investment for a total of five years and at least for two years after obtaining your citizenship.
The program operates on the basis of the laws “On Foreigners in the Republic of Bulgaria” (Articles 24 and 25), “On Bulgarian Citizenship” (Articles 12a and 14a) and “On the Promotion of Investments in Bulgaria”. In 2021 Bulgarian authorities expanded the investment program and introduced some new options, but ruled out the possibility of investing in government bonds. The changes also affected the spouses of the applicants under the fast-track procedure, they will be able to apply for citizenship a year after it was granted to the main investor.
Please note!In 2019 the European Commission criticized Bulgaria's investment program. There was a lot of information in different media about the possible "freezing" of the program. Nevertheless, the program still works! In March 2021, parliamentarians of Bulgaria amended the law "On Bulgarian Citizenship". It is no longer possible to invest in government bonds in order to obtain a passport, but a number of new options have appeared.
Investment Options
-
from €257 000
Simple procedure
The applicant chooses an investment option for obtaining a permanent residence permit:
- Stocks traded in Bulgaria – from €1,024,000
- UCIT (EU regulated fund vehicles) including exchange-traded funds (ETFs) with a focus on Bulgaria – from €512,000
- Alternative investment funds (AIF), including private equity, venture and hedge funds, a part of whose focus is on Bulgaria - from € 512,000
- Bulgarian company, carrying on a Certified Priority Investment Project (CPIP) – these are analogs of EB-5 regional centers in the USA – from €1,024,000
- Bulgarian company, employing 10 Bulgarian persons or more – from €257,000
- Any Bulgarian private company– от €3,075,000
- Certified Investment Project (CIP) – exact amount and conditions are project-dependent.
The right to apply for citizenship appears five year after obtaining the permanent residence permit.
-
from €514 000
-
Fast track procedure
The applicant chooses an investment option for obtaining a permanent residence permit.
Next, the investor should double the amount of his investment, or invest at least another € 512,000 in a CPIP.
Applicants using the option of investing in a Bulgarian company and creating 10 job positions can speed up the process by doubling the investment and employing 20 workers.
After obtaining the permanent residence permit, the investor is allowed apply for citizenship after two years.
The conditions of this Bulgarian program do not prohibit investors to attract financing. Thus, the applicants who have less free capital can obtain Bulgarian citizenship. There are companies on the market that are ready to provide loans to program participants. The new legislation provides for a pre-approval process by the government for some categories of investors. For details, please contact immigration consultants.
-
Requirements for Investors
The applicant must:
- Be an adult citizen of a country that is not a member of the European Union
- Have no outstanding criminal record
- Have no problems with EU, US, UK and Canada immigration laws
- Make the necessary investments
- Undergo a medical examination.
Spouses, children, and also parents of an investor can obtain Bulgarian citizenship on the basis of one application.
-
Documents
- A valid passport or other ID document
- Photos
- Documents confirming the origin of funds
- Information about whether the applicant is a politically exposed person
- Investment certificates
- Certificate of no criminal record
- Proof of residence in Bulgaria
- Receipts for payment of registration fees
- Applicant's birth certificate
- Medical certificate confirming the absence of dangerous diseases
Additional expenses
-
State fees
Administrative costs for obtaining a visa, permanent residence permit, citizenship will be about €1,000.
-
Legal expenses
€30-100 thousand - depending on the prices of the law firm that will accompany the process.
-
Rights and Obligations
- Accommodation, employment, study in any EU country are possible without restrictions.
- Free entry (without a visa or with the issuance of a visa at the airport) to 153 countries of the world, including the United States.
- Retention of the first citizenship.
- Tax residency in Bulgaria (optional).
- There is no need to reside in Bulgaria. Before obtaining a passport, you will need to visit the country only a few times.
- Access to education and health care within the EU.
- Knowledge of the language, history and culture of Bulgaria is not required.
The procedure for obtaining
