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Bulgaria

COUNTRY PROFILE

• Capital: Sofia
• Population: 7.4 million
• Area: 110,994 sq km (42,855 sq miles)
• Major language: Bulgarian
• Major religion: Christianity
• Life expectancy: 71 years (men), 78 years (women)
• Currency: LEV (BGN)
• Exchange Rate (as of Oct. 2018): 1BGN = 0.51 EUR

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. 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.

Offered in accordance with the Foreigners in the Art. 25, para 1, items 6 or 7, of Foreigners in Republic of Bulgaria, the Investor Program for Residence and Citizenship includes a fast-track citizenship option. Acquiring a Bulgarian permanent residence through the immigration program provides investors with all the rights of a Bulgarian citizen, except the right to vote. The residence gives applicants the right to enter and leave Bulgaria freely, as well as the right to travel across all European countries visa-free.

To qualify, applicants must fulfill one of the investment options in addition to meeting the following criteria:

– Be a non-EU citizen;
– Possess a valid passport or another substitute foreign travel document;
– Have a personal net worth greater than €1 million (required by banks for the financed investment option). For the full investment option, the net worth requirement is €511.292.
– Provide documents supporting the source and origin of the declared and invested funds.
– Hold no criminal record.
– Attest the Power of Attorneys and sign the Investment Agreement.
– Pay 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 (6 to 9 months);
– Fast-track option allowing for citizenship within 2 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 10% and free-trade environment within the EU.
-Access to high quality health care in Bulgaria and the EU;
-Conditional tax exemption on world income.

INVESTMENT OPTIONS:

EUR 511,292 one-time investment in Government Bonds plus processing fees. The government bond portfolio will carry on for five years. Upon completion of the investment period, the full amount of EUR 511,292 will be returned to the investor without any accrued interest. Alternatively, you will be able to make an initial investment of EUR 185,000, which can be financed through the Bulgarian bank over a period of 5.5 years. However, under this option there is no repayment of capital to the investor.

After 5 years of remaining in the Bulgarian residency program, you can apply for Bulgarian citizenship. A fast track option to receiving citizenship status is possible by doubling the initial investment amount. The full investment in this case of €1,022,584 can be financed at €270,000.

Besides the above Government Bonds Investment (Financed or Non -Financed) according to the investor’s risk appetite, Secondpass Global can offer multiple investment options and combinations of investment, based on the current Bulgarian legislation. Our Local Partners are proficient in identifying the best income earning investment solutions, depending on the investor’s preferences and business interest. Some examples are below:

Investment in property
Invest in Insurance
Investment in Public Company Equity / Shares

RESTRICTED NATIONALITIES:

Libya, North Korea, Sudan, Syria, Afghanistan & Yemen. USA for Insurance products only.

DEPENDENTS AGE: Children up to 18 years can apply together with Main Applicant. Once Main Applicant obtains Citizenship, Children of any age married or unmarried can apply by virtue of parent being a Bulgarian citizen.

TIME TO RESIDENCY: 6 – 9 months

TIME TO CITIZENSHIP: 2 – 5 years

VISA-FREE COUNTRIES: 157 & Passport Global Rank, 9th

PROCESS & NEXT STEPS:

(II) RESIDENCY

Step1- Immediately
Onboarding: Client decides on the Investment Route to take out of the many options presented by Secondpass Global and accepts the Quotation. Client sends the Main Applicant Passport copy for initial due diligence check. Once confirmed ok, client signs Secondpass Global Retainer Agreement and sends the initial fund to start the process.
PHASE1 – MAIN APPLICANT

Step2- Month 1

File Preparation & submission.
Appointment at Bulgarian Consulate or Embassy for documents signing.
Investment transfer by the client.
Investment certificate issued.

Step3- Month 2

Second appointment at Bulgarian Consulate or Embassy for Visa D issuance.

Step4- Month 3-4

Visa Granted & Client travels to Bulgaria for the first time.
Application for PR is submitted.

Step5- Month 8

PR is approved
Client travels to Bulgaria for the second time.
Application is submitted for issuance of PR card.
PR card received after 3 days of application.

PHASE2 – DEPENDENTS
Once the Main Applicant is issued the PR card, the procedure for qualifying members begins. This process takes about 6 months and includes two trips to Bulgaria for each applicant

(II) CITIZENSHIP
Step6 – Passports after 2 to 5 year of holding PR
After maintaining permanent resident status for the past 5 years (or 1year in case of Fast Track) the PR holder can apply for Citizenship status.

Bulgaria

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