BULGARIA

BULGARIA

$512,000

Overview

The Bulgaria Investor Program for Residence and Citizenship is offered in accordance with the Foreigners in the Art. 25, para 1, items 6 or 7, of Foreigners in Republic of Bulgaria, allowing a holder of Bulgarian permanent residence permit to enter and leave Bulgaria freely, as well as the right to travel across all European

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Description

Country Info

Bulgaria is a country occupying the eastern portion of the Balkan Peninsula in Southeastern Europe. A beautiful country, with majestic
mountains, sandy beaches, picturesque villages, good food, and hospitable people. Considered as the oldest country in Europe, Bulgaria is rich in culture with its world-famous folklore and Opera singers and its several UNESCO world heritage sites. Bulgaria is a member of the European Union, NATO, and the Council of Europe; it is a founding state of the Organization for Security and Co-operation in Europe (OSCE). Many investors consider Bulgaria because of its strategic location and taxes are one of the lowest in Europe.

As one of the youngest EU member states, this beautiful country boasts a rich and diverse culture, temperate climate and ideal location in Southeast Europe. The ideal gateway into the European economy and way of life, Bulgaria is diverse, culturally rich and perfectly placed for working and travelling in and around the continent.

The country is a leading European producer of copper and zinc. Other major industries include electronics, chemicals, mining, machinery, steel, vehicle components, and firearms.

Costs

To be eligible for Bulgaria Investor Program for Residence and Citizenship Program, the applicant is required to make a non-refundable financial contribution to the Government of Bulgaria.

1. FULL INVESTMENT

Applicants choosing this option must deposit BGN 1 million (€511,292) in a Governmental Bond Portfolio for an investment period of five years with no further payment required. At the end of the five-year period, the full amount will be returned to the investor without any accrued interest. The investment is fully guaranteed by the government bonds.

FULL INVESTMENT Government Bond Portfolio
EUR 512,000

2. FINANCED INVESTMENT

Clients can leverage their capital by choosing to finance the required investment amount through a European bank. The applicant must demonstrate a net worldwide asset of EUR 1 million to avail this option.

DOUBLING INVESTMENT TO FAST TRACK CITIZENSHIP

The fast-track option allows investors to apply for citizenship faster by doubling their investment. The applicant must have at least one-year permanent residency status and make a further investment. Government Bond Portfolio or in the Capital of a Bulgarian company carrying out a priority Investment Project, the additional investment must be held for a period of 2 years.

Investment
EUR 512,000
GOVERNMENT FEES

In addition to the investment, there are Government fees to be paid (inclusive of Due Diligence Fees)

Main Applicant and Spouse
EUR 35,000
Each qualifying dependent below 18 years
EUR 2,500

Citizenship Invest professional fees, official application forms, certification of citizenship and passport, courier & other disbursements are the only other costs associated. A detailed quotation with no hidden costs is provided for the specific case.

Required Documents

Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke service that simplifies the application process, requesting from clients the bear minimum. Our job is to simplify the document collection as much as possible and when required we obtain the documents for the client without their involvement. Please note the below list is to be used as a guideline only, after assessing the particular case Citizenship Invest prepares a personalized checklist.

Documents required from each applicant including children:
• Certified valid passport
• Proof of accommodation in Bulgaria
• Proof of self-sufficiency
• Copy of insurance policy
• Full details about the applicant’s marital status and members of the family”

The application must be submitted in Bulgarian. For applicants under the Investment Promotion Act, there are additional requirements among which the amount to be invested in Bulgaria.

Timeline

MONTH 1

Client signs CI Retainer Agreement and pays the retainer invoice

The applicant then makes an appointment at a Bulgarian Consulate for document signing. The Investment is then transferred by the applicant.

MONTH 2-3

The Investment Certificate is issued. A second appointment is made at a Bulgarian Consulate for the application of Schengen Visa, type D (long stay visa).

Once the Schengen Visa, type D is granted, the applicant makes the first trip to Bulgaria for the submission of Application for Permanent Residence (PR).

MONTH 4-6

Once the Permanent residence is approved, the applicant will then make a second trip to Bulgaria for the submission of Application for Bulgarian PR card. The applicant will receive the receipt of Bulgarian PR Card (three days after application). Then, the family reunification process can be started. Family members will obtain permanent residence in 3 months.

MONTH 16-18

Increasing the invested amount to approximately EUR 1,024,000 by purchasing new government bonds for EUR 511 292 followed by application for a Bulgarian citizenship and passport with the Ministry of Justice. The investor may apply for Bulgarian citizenship & passport at the nearest Bulgarian embassy or general consulate.

MONTH 19-20

Citizenship Certificates and passports are issued. The balance of CI professional fee is paid.

 

The estimated time to receive residence permit/citizenship approval depends on the due diligence processing time and the specific case.

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