Bulgaria Citizenship

LOCATION
Southeast Europe

CAPITAL
Sofia

TIME DIFFERENCE
UTC+2

TOTAL AREA
110,879 km2

AGE DEMOGRAPHICS
0-14: 14.2%,
15-64: 66.9%,
65+: 18.9%
65+: 7.1%

LANGUAGES
Bulgarian: 76.9%
Turkish: 8.2%
Roma: 3.8%
Other: 11.1%

RELIGIONS
Eastern Orthodox: 59.4%
Muslim: 7.8%, Other: 29.1%,
None: 3.7%

GOVERNMENT TYPE
Parliamentary democracy

CURRENCY
Bulgarian Lev (BGN),
tied to EUR

EXCHANGE RATE:
1 EUR = 1.95583 levs


6,981,642
Population Growth
-0.81%
14,500 USD
GDP ( per capita)
GDP (purchasing power parity)
105.5 billion USD (2012)
160
Visa free countries

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.

Qualifications

Investment criteria
Offered in accordance with the Foreigners in the Republic of Bulgaria Act, the Investor Program for
Residence and Citizenship includes a fast-track citizenship option. To qualify for application, you will
need to meet one of the requirements outlined in the “Investment Options” section.

Application criteria
In addition to making a financial investment, applicants must also meet the following requirements:

  • Non-EU citizen;
  • Valid passport or another substitute foreign travel document;
  • Personal net worth greater than €1 million is required by banks for the financed investment option. For the full investment option, the net worth requirement is €511,292;
  • Documents supporting the source and origin of the declared and invested funds;
  • Proof that the applicant has no criminal record;
  • Attest the Power of Attorneys and the Investment Agreement;
  • Payment of application fees;
  • Make the minimum statutory trips to Bulgaria.

Why Choose Bulgaria?

As one of the youngest EU member states, Bulgaria boasts a rich and diverse culture, temperate climate,
and ideal location in Southeast Europe — and the Investor Program for Residence and Citizenship in
Bulgaria helps get you there faster.

Benefits of the program:

  • Fast process to residency (six to nine months);
  • Fast-track option allowing for citizenship within two years;
  • Special exemption from physical residence enforced with legislation;
  • Guaranteed investment and available financing option;
  • No language requirements for residence or citizenship;
  • No obligation to relinquish current nationality.
  • Lowest tax rates and free trade environment within the EU.

Benefits for permanent residents:

  • Free movement within the Schengen countries after Bulgaria becomes a member state;
  • Access to high quality healthcare in Bulgaria and the EU;
  • Conditional tax exemption on world income;

Benefits for citizens:

  • Unrestricted right to live, work and study in Europe;
  • Right to own land in a EU country.

Investment Options

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 of BGN 1 million (€511,292) will be returned to the investor without
any accrued interest. The investment is fully guaranteed by the government bonds.

Financed Investment
For a set pre-paid fee, clients can leverage their capital by choosing the Financed Investment option.
These individuals pay a reduced amount of €180,000 that will be used to finance a BGN 1 million
(€511,292) closed 5.5-year loan

Applicants choosing the Financed Investment option will need to demonstrate net worldwide assets
of no more than €1 million, a requirement of the Bulgarian chartered bank.

Fast-Track Citizenship Option

The fast-track option allows investors to apply for citizenship faster by doubling their investment. The
requirements for this option are as follows:

  • Have at least one year of permanent residency status.
  • Double the investment in bonds;
  • Hold both investments for a period of at least two years after citizenship has been granted.

Financing options are available to qualified applicants.

Citizenship applications for participants in the fast-track citizenship program are examined under
express procedure.

Citizenship Requirements

In accordance with the Bulgarian Citizenship Act, foreign investors who hold a permanent resident
permit for at least five years are eligible to apply for Bulgarian citizenship. The requirements for those who opt for the regular program are as follows:

  • Must be over 18-years-old;
  • Must have maintained permanent resident status for the past five years;
  • Must have never been sentenced by a Bulgarian court for a capital offence or accused in criminal proceedings for such a crime (unless he/she has been rehabilitated);
  • Investors will need to file a citizenship application and pass medical tests in their current country of residence.

Application Fees

Application fees associated with the Investor Program for Residence and Citizenship in Bulgaria include
government application fees, legal and translation fees, and service fees related to the background
verification and validation of source of funds. The upfront nonrefundable fee for the main applicant
and spouse is €25,000 with additional €2,500 for each qualifying dependent.

The processing fees for the fast-track option are charged in addition to the fees outlined above. All
application fees charged by the Bulgarian government and by our immigration agent are subject to
change. These fees depend on the number of applicants and the complexity of the process.

Steps and Timeline

The table below breaks down the application process into eight basic steps. Some require the
applicant’s involvement while others are taken care of by our immigration agent or the competent
Bulgarian financial institution (once power of attorney has been granted by the applicant). Each step
must be completed before continuing to the next.

PHASE 1

  • STEP 1
    File preparation and submission. Application fees are due at this stage.

  • STEP 2
    Appointment at a Bulgarian Consulate for document signing.

  • STEP 3
    Investment transfer by the applicant.

  • STEP 4
    Investment Certificate issued.

  • STEP 5
    Second appointment at a Bulgarian Consulate: application for Visa D.

  • STEP 6
    Visa D granted followed by a first trip to Bulgaria: submission of Application for Permanent Residence (PR).

  • STEP 7
    Permanent residence approved, followed by a second trip to Bulgaria: submission of Application for Bulgarian PR card.

  • STEP 8
    Receipt of Bulgarian PR Card (three days after application).

PHASE 2
Once the main applicant is issued the Bulgarian ID document, the procedure for qualifying family members begins. The process for obtaining a Bulgarian ID may take six months (this includes two mandatory trips to Bulgaria for each qualifying family member).

For more information email info@SovereignGroup.com or click here to find your nearest office.


DISCLAIMER – © The Sovereign Group 2014

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, this information does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.


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Sovereign Trust (Gibraltar) Limited
Tel: +350 200 76173