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Bulgarian Program for Residency and Citizenship - Amendments

 

Lastly, we have the long awaited amendments of the Bulgarian Program for Residency and Citizenship. The amendments have already been published in the State Gazette and will become operational from 28 February 2013. Here is a breakdown of thebulgarian program for residency and citizenship amendments

  • Language competence requirement has been waived
  • Relinquishment of current citizenship for investors has been waived
  • The creation of a fast-track option for those investors who wish to qualify for Bulgarian citizenship in a period of 2 years by making an additional investment.

With these new elements, the Bulgarian Program for Residency and Citizenship becomes unique and very competitive passive investment option for high net-worth investors, who wish to obtain citizenship in an EU member state, without having to relocate and learn a foreign language.

Fast-Track Citizenship Option (New)

The possibility an investor to apply for citizenship as soon as possible is crucial element in any citizenship by investment program. To be eligible to apply for Bulgarian citizenship after 2 years, an investor should accomplish the following requirements

  1. Heave been Permanent Resident (PR) for at least 1 year as an investor in Government Bonds investment option worth €512,000. This amount can be financed (€180,000).

  2. Have invested the minimum amount of €512,000 in Government Bonds. This amount can be financed (€100,000).

  3. And maintain both investments for a period of at least two years after getting the citizenship.

In this case, the citizenship application is processed within 6 months as of the deposition.


 Large-Scale Investment Projects (Amended)

To be eligible for this option, an investor should be a majority shareholder, procurator, or legal representative of a company who has a certificate for Class A, Class B or Priority Investment Project as per the Investment Promotional Act.

Investment required is between €1M - €50M, it leads to permanent residency and citizenship after 2 years.

In addition, new investment options have been introduced for obtaining Bulgarian residency through investment:

Investment in Real Estate (New)

You can invest as an individual or invest the minimum amount required and obtain more than 50% of the capital of a Bulgarian company, which in turn invests the minimum capital required  in real estates.

The minimum investment required for the real estate option is €300K and the payment must be made through a Bulgarian bank. Financing is allowed as long as the outstanding amount of the loan is maximum 25% as of the date of residency application.

This investment option does not lead to permanent residency status and the residency should be renewed every year.

Entrepreneur Options (New)

Option A:

  1. The applicant should invest the minimum amount to obtain at least 50% of the capital of a Bulgarian company operating in one of the underdeveloped regions in Bulgaria, or
  2. Invest the minimum amount in new tangible or intangible assets, and
  3. Create and maintain minimum 5 jobs for Bulgarian citizens under a labor contract.

The minimum investment for the Entrepreneur Option A is €125K.This investment option does not lead to permanent residency status and the residency should be renewed every year. The applicant may apply for citizenship after 5 years.

Option B:

  1. The applicant should invest the minimum amount to obtain at least 50% of the capital of a Bulgarian company, or
  2. Invest the minimum amount in new tangible or intangible assets, and
  3. Create and maintain minimum 10 jobs for Bulgarian citizens under a labor contract.

The minimum investment for the Entrepreneur Option B is €250K and leads to permanent residency and the investor may apply for Bulgarian citizenship after 5 years.

The High Net Worth Immigration is at present only assisting clients who are interested in the Government Bonds and Priority Investment Projects investment options.

 

Comments

I am doctor orthoped,graduated from gulgaria before 15 years.i am am interesred in real estate residency and citozenshiprogram.preferring stara zagora city.
Posted @ Friday, November 08, 2013 9:48 AM by Mahmoud el haj
Easy way to get immigration by investing in real estate
Posted @ Sunday, January 12, 2014 4:24 AM by Rocky Nagpal
Dear SIr 
send me full detail information. Hopefully reply very soon.thanks 
have a very great day.  
Abdulshakoor shaid
Posted @ Thursday, February 27, 2014 11:33 AM by abdul shakoor shahid
im interested in fast track program of bulgaria. Kindly elaborate the details. 
Thansk
Posted @ Tuesday, April 08, 2014 9:44 PM by Ramkumar
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