Top 10 Benefits of Having Bulgarian Citizenship
Since the 2009 implementation of the Bulgarian Immigrant Investor Program, the benefits of Bulgarian citizenship have been markedly noticed by potential investors. However, before any high net worth individual should consider gaining residency anywhere, they should know what the benefits are of such a move.
Here are the top 10 reasons for gaining Bulgarian citizenship:
1. Lowest Tax Regime in Europe – Carrying out business in Bulgaria, you are liable to a corporate income tax at a rate of 10%. This is the lowest rate of corporate income tax in the EU.
2. Lowest Business Operating Costs – Taken together with employee retention, cost of operating, and costs of distribution; Bulgaria has the lowest business operating costs in the entire EU.
3. Low Labor Costs – When you’re doing business you want to be sure you are getting the biggest bang for your buck. Not only is the tax structure in Bulgaria favorable, but the cost of labor is highly competitive among the EU.
4. Highly Educated Work Force – If you’re going to be employing people, you want to know that they know and what they can do. Bulgaria has a highly educated, motivated, mobile, and skilled workforce.
5. Secure Banking & Financial Sector – Even in the current times of financial turbulence in the EU, Bulgarian banking and financial sectors are secure. As a confirmation, in December 2011, the international rating agency Standard and Poor's confirmed the long-term and the short-term credit rating of UniCredit Bulbank at BBB/A-3, outlook stable. This is the highest credit rating given to a Bulgarian bank and is identical to the rating of Bulgaria, the so-called sovereign rating.
6. Strategic Geographical Location – Another one of the benefits of Bulgarian citizenship is your proximity to so much of the rest of the EU. Within 2-3 hours you can be in any European capital or bigger city, attending you business meeting, shopping or just enjoying your afternoon Vienna coffee, for example.
7. EU Top Universities Access – One of the reasons many high net worth individuals want to move to Europe is so that their children can take advantage of the lauded European education system. One of the benefits of Bulgarian citizenship is this access to these top universities as well as fee and tuition deductions.
8. Freedom for You and Your Family – Once you’re a Bulgarian citizen you have the right to live and work anywhere in the EU. This applies for your whole family. As a foreigner you may have felt reticent about traveling around; as a Bulgarian citizen you don’t need to be concerned about traveling across nation’s borders.
9. Bypass Strict Visa Requirements – One of the worst things when traveling to a destination is being held up because something doesn’t check out. As a Bulgarian citizen, you can travel visa-free or get visa-on-arrival to more than 150 countries and territories as well as the whole of the European Union.
10. Beautiful Country & Friendly People – Bulgaria has many wonderful places to live and enjoy. Whether you’re looking in metropolitan areas like Sofia, Plovdiv, and Varna, or smaller destinations like Sandanski or Balchik, Bulgarian living has got so much to offer those interested in relocating. The warm and welcoming people of Bulgaria will only enhance your time spent in Bulgaria.
Of course, there are many fine reasons for moving you, your family, your business, and your wealth to the EU. When you’re looking into this move, you should carefully weigh the benefits of Bulgarian citizenship.
To find out how to obtain your Bulgarian citizenship and passport, contact HNWI!
