Getting Bulgarian citizenship by investment is a relatively easy process. And even if you decide to expedite the process, it will still take two years for you to get a Bulgarian passport. While no two cases are the same, below is the average processing time, showing the different (main) stages. 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. The final straw that made the Bulgarian government take some kind of action to save its RBI program was the EU Commission. 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. So, there’s a good chance that you know nothing about Bulgaria and its culture.Â, Bulgaria, or the Republic of Bulgaria if we’re keeping things official, is a state that is nestled in between the Black Sea on the east, Greece and Turkey to the south, the states of Macedonia and Serbia to the west, and Romania to the north.Â. . The Bulgarian Investor visa will normally take up to 35 business days to be issued. Of course this is technically not possible as there is always some extra processing time for due diligence procedures, document preparation, etc. It may take time, but these condition will be certainly tightened. Bulgaria: The latest Bill(s) and legal amendments of the Bulgarian Citizenship by Investment program. tells a similar story. We will outline below, why the "Bulgarian Citizenship by Investment" program is one of a kind and what the main advantages of holding Bulgarian passport are. Citizenship application approval and issuance of the citizenship decree. Then the stocks or shares of a company listed on the Sofia Stock Exchange might be just the ticket. As all our clients are registered in pre-approved regions of the capital Sofia, family members can obtain residency status almost instantly. 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 country’s scenic landscapes and relaxed pace of life are certainly appealing to investors looking to escape from hectic and expensive international hubs like New York or Dubai. The biggest draw of the Bulgarian residence-to-citizenship investment program is that it is the fastest way to obtain a European citizenship besides citizenship by investment. , some people believe that the program has no legal basis. The cost of living in Bulgaria is one of the lowest in Europe. There is confusion in the investment immigration world as to what Bulgaria’s program really is. You’ll be able to invest in government bonds if you want to apply for Bulgarian residence, an investment that’s fully recoupable once the holding period is over. Also Bulgaria was founded in 681 and is the oldest country in Europe. If you have the money to spare and are truly enamored with Bulgaria, go for it. People with criminal background, unclear (suspicious) source of funding or any other irregularities will be rejected by the Bulgarian government and will not be able to obtain citizenship. Source of funds is of extreme importance for example, but stating simply "personal savings" doesn’t do the job in Europe anymore. Bulgaria is an attractive option for business people who want an EU passport without much hassle. At the same time, you will also be issued with a personal tax number. . If your business hinges on logistics and distribution, you’ll be glad to know that Bulgaria offers five pan-European road corridors, four major airports, as well as the seaports of Varna and Bourgas. The good news is that your permit will be issued to you within three business days. Selection and purchase of the initial investment of 512 000 EUR. The Bulgaria citizenship by investment program was created by the Bulgarian Government to encourage foreign investments by offering special incentives to investors from non-EEA countries. No other residence or citizenship program offers the opportunity to invest in intellectual property, but Bulgaria does.Â, Needless to say, Bulgaria has many highly educated and skilled professionals looking to make a living.Â, So, if you want to buy patents, copyrighted objects, inventions, models, trademarks, or other types of intellectual property, you could fast-track yourself to European citizenship at the same time.Â, A minimum investment of €511,292 is required.Â. And that’s it – you are now officially Bulgarian and EU citizen. You can go from snowy mountains to beautiful beaches within a day thanks to Bulgaria’s diverse geography. You can invest €250,000 in Greek real estate to obtain residence there. Unlike people from the US, Canada, or Australia who already have top-tier passports, emerging world citizens may not find much value in pursuing a second passport in somewhere like St. Kitts.Â, While it can offer some improvement, it does not expand their horizons beyond a handful more of visa-free countries.Â. Let’s talk about each of them in more detail.Â. The Bulgarian CBI Program is an attractive opportunity for foreign investors and wealthy individuals to enjoy visa-free access or visa-on-arrival access to 157 countries and territories, Bulgarian citizenship … What would we be teaching you in this article, well, we’ll be showing you how to buy your way in becoming a Bulgarian citizen. While you can cover a lot of ground with a solid passport portfolio, it’s hard to give up one of the world’s strongest passports. Citizenship, Residency, and Visas in Bulgaria Fast Track Bulgarian Citizenship by Investment. Bulgarian Citizenship by Investment – updates 2020 Amendments to the existing “Law for the Bulgarian citizenship”. A nice article. Submitting the application for Bulgarian citizenship. Your dependants, their dependants and so on, they are all considered to be Bulgarian citizens as well (see Citizenship by Origin). Meanwhile, a handful of other RBI programs offer you a no-frills option of becoming their resident without having to travel to the country at all.Â. This investment must be doubled to EUR 1 million after one year to apply for fast track citizenship. You will be able to apply for Greek citizenship in seven years’ time. However, you can technically remain a permanent resident indefinitely and not apply for citizenship if you don’t want to. Invest in a company listed on the Sofia Stock Exchange. From start to finish, you can expect to become a Bulgarian citizen in approximately 2.5 years. This one is an interesting option. You can get Latvian citizenship in 10 years. The ultimate solution, which is now being utilized by a steadily rising number of people from around the world, is to acquire citizenship of the "right" country in order to obtain better travel rights and freedom of settlement (among other things). Eligible for citizenship after 5 years (Fast-track option is available). Lastly, the investment in trust account with Bulgarian bank is suited for investors who want to diversify their portfolio internationally. The country needs no introduction, its economic and political currents are somewhat predictable, and its real estate is highly coveted. And if you couldn’t care less about logistics, then perhaps some of Bulgaria’s international clout would persuade you?Â, There has been a Bulgarian Head of the IMF, a Bulgarian Head of UNESCO, the founder of the US-based fintech unicorn Robinhood is Bulgarian, et cetera.Â, Plus, Bulgaria is a destination that’s known for its science and technology scene. Since it’s really a hybrid program, not many people linger in the permanent resident stage. There is no Schengen access. Plus, the Cypriot residence eventually leads to citizenship too. But it’s the Bulgarian people that truly make the place special.Â, Though a bit gruff, they are welcoming and extremely proud to show off their heritage and culture, Bulgarians are highly educated and many are multilingual too.Â. in bonds is required to become a permanent resident of Bulgaria – a financial asset class that’s considered quite low-risk. China: Our participation at the "Emigration & Luxury Property" EXPO in Shanghai on 22-23 March 2018. While you may be able to freely travel and buy property throughout Europe, you’re also subject to EU laws and regulations, which are becoming increasingly burdensome by the moment. No extra investment will need to be made. Spouse and children (even >18 years old) can also obtain EU citizenship. 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. At just €350,000, you could become a legal resident of this country that will gladly see you invest in its real estate. Bulgarian retains its CIP - latest 2019 news (VIDEO), Bulgarian citizenship for residents of Hong Kong, Special time limited offer 2020 - OFFER EXPIRED, Citizenship application – denied or delayed. There are many stakeholders that oppose the changes.Â. Life could be worse. As part of the deal, you will also receive your TIN (tax identification number, locally known as the EGN). It’s currency – the Bulgarian lev – is pegged to the euro, so there won’t be any nasty surprises when you go for Bulgaria’s residence.Â, Bulgaria is not the most well-known country on the planet. Bulgaria is also a member of the European Union, which is both a benefit and a drawback in a sense. A provision in the Bulgarian citizenship law exists that allows the applicant to effect only the initial investment of 512 000 EUR and to obtain immediately permanent residency status, as explained above. Is Bulgarian Residence and Citizenship For You? Owning Eurobonds means that the whole amount is unconditionally guaranteed by the state. Account opening with the selected Bulgarian bank. Yet, unlike other programs, you won’t have to become a tax resident to work towards obtaining citizenship – that’s major. You’re also able to set up a trust account with a local Bulgarian bank of a minimum amount of, Able to provide proof as to where investment funds come from, Whichever investment you choose, you will need to obtain an official confirmation certificate, issued by the, . 1 It is extremely difficult to determine the exact number of visa-free countries for any particular passport holder. The Bulgarian residence by investment program is not for everyone, but it is one of the easiest countries to get into in Europe.Â. Out of respect to those who engage our services, we don't provide personalized advice or referrals unless you engage us. Another benefit of Bulgarian citizenship is that it passes on to your descendants – even adult children. Would you like to still apply under the existing conditions, as they are set out in this article? You can either maintain your permanent residence for a minimum of 5 years, then apply and receive Bulgarian citizenship. There is no way to obtain your residence permit without visiting Bulgaria at least once. Hong Kong: "EU Citizenship by Investment" - lecture by our lawyer at the annual gathering on March 18th 2018. Additionally, if there are scholarship fees, you will be charged at "domestic EU rates", rather than "international fees", which are much higher. You can also read the word of caution section for additional information. Get your Spanish citizenship after ten years.Â. However, with a Bulgarian residence and eventual citizenship, you can give up your US citizenship without giving up a solid passport.Â. How come it’s a con? The investment grade credit rating of Bulgaria by all major agencies, such as "Standard and Poor’s" and "Moody’s" is additional layer of protection and peace of mind for the investor in Bulgarian government bonds. EU citizens have access to the social security and medical system in all member states, depending on their choice of residency. Portugal. 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. The great thing about Bulgaria’s fast-track option is that you don’t need to decide right away. The citizenship will be granted without any language or history exams and without the requirement to surrender any existing citizenship(s). 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