Bulgaria – the gateway to Europe
Bulgaria is one of the youngest countries to enter the EU and since its inauguration investors and entrepreneurs have been picking the fruit. The country is rich in culture, diversity, and it is situated in the perfect spot for travelling in between Eastern and Western Europe. The Investor Program for Residence and Citizenship in Bulgaria fast-tracks your application to becoming a Bulgarian citizen.
Benefits of the Investor Program for Residence and Citizenship
This programme offers the investor a fast process to residency which is usually between 6 to 9 months and it also fast tracks the process to becoming a permanent citizen within 2 years. There is no language requirement in order to apply for residency and there is no need for the foreign investor to abandon his current nationality. The program has been government-approved and allows for investment or financing options from the banks as well as special exemption when it comes to physical addresses. Bulgaria is one of the countries in the EU where tax rates are the lowest and the environment supports free trade.
Benefits for permanent Bulgarian residents
Permanent residents will be able to enjoy free movement within the Schengen zone, following the joining of Bulgaria as a Schengen state. They will be able to access healthcare in Bulgaria and the EU and they will qualify for conditional tax exemption on world income.
Benefits for Bulgarian citizens
Bulgarian citizens will be able to have unrestricted access to Europe in terms of living, working and studying. They will also be able to own land in the EU.
Qualifications for Bulgarian residency/citizenship
In order for your Bulgarian residency application to become fast tracked, the program offers the chance to invest in the country. It is one of the fastest ways for you to earn your residency and citizenship in the country.
There are 2 main investment options that the investor may choose from. The first is a full investment. Applicants who opt for this option must deposit BGN 1 million (511,292 EUR) into a Governmental Bond Portfolio for a period of 5 years. At the end of the 5-year period, the investment will be returned in full to the investor without any interest.
The second option is a financed investment. Clients who choose this option can leverage their capital by choosing to finance the investment through a European bank. This might involve extra costs.
Applicants who opt for the investment option must meet the following criteria: they have to be a non-EU citizen, have a valid passport, have the net worth of 511,292 EUR (for full investment option), provide documents supporting the source of the funds, proof of no criminal record, payment of application fees, and making the required amount of trips to Bulgaria.
Fast-track to citizenship
Investors can fast-track their citizenship by doubling their investment. Investors need to meet the following requirements in order to do this: have at least 1 year of permanent residency status, double the investment by adding 512,000 EUR into the portfolio or a Bulgarian company, and hold a second investment for a period of 2 years.
Regular process to citizenship
Foreign investors who hold a permanent residency permit for at least 5 years are eligible to become Bulgarian citizens. The requirements for this process are as follow: the resident must be older than 18, they must hold a 5-year permanent residency status and a valid residential address, and they must keep a clean criminal record in Bulgaria.
Investors will also need to pass medical examinations and tests to determine the state of their health.
Intercompany Solutions can assist you with your permanent residency and naturalizations in Bulgaria. Kindly contact us to assist you in the procedure.