Obtaining citizenship by investment in Bulgaria has become an increasingly popular option for investors around the world. Bulgaria offers one of the most affordable citizenship by investment programs in Europe, with a clear legal framework and a relatively easy application process. In this article, we will provide an overview of Bulgaria’s citizenship by investment program, including its legal basis, requirements, application process, and benefits. Multiple references to citizenship and Bulgaria will be made throughout the article in an organic way.
Bulgaria Citizenship by Investment Has Solid Legal Grounds
Bulgaria’s citizenship by investment program is firmly grounded in domestic legislation. The Bulgarian Citizenship Act provides a clear legal pathway to citizenship through investment. According to Article 14a of the Act, foreign investors who have held permanent residence status for at least one year and have invested over 1 million BGN in the country can apply for expedited naturalization. The Foreigners in the Republic of Bulgaria Act also lays out provisions for obtaining permanent residence by investment. Foreign nationals who invest over 1 million BGN through select investment options can qualify for a PR permit. By pairing permanent residence with the naturalization option, applicants can obtain full Bulgarian citizenship in as little as 2 years.
The Application Process is Straightforward with Minimum Hassle
The application process for Bulgaria’s CBI program is relatively straightforward compared to other European countries. There is no need to travel to Bulgaria during the application process. The documentation is simple to prepare with apostilled documents, background checks, and medical insurance. There are also no interview requirements, residence obligations, or language tests for citizenship applicants. The entire application can be handled remotely through a licensed agent in Bulgaria. Once approved, citizenship is granted through a formal oath ceremony. The application processing time is around 6 months for permanent residence and 12-18 months for citizenship. The streamlined process makes Bulgaria’s CBI program efficient and attractive.
Bulgaria Citizenship Comes with Many Practical Benefits
Gaining citizenship in Bulgaria provides investors with an extensive range of benefits. Bulgarian passport holders enjoy visa-free travel to over 150 countries, including the entire EU Schengen area. Bulgaria is a full member of the EU, so citizens can live, work and study anywhere in the EU. Bulgaria is also expected to join the EEA in the future. Investors can relocate to other favourable EU jurisdictions while retaining Bulgaria citizenship. Bulgaria has an attractive 9% flat tax rate on income and capital gains. Citizens can also own property in Bulgaria. The Bulgarian passport provides stable access to the EU for decades to come. For entrepreneurs, Bulgaria citizenship also enables easy company formation to tap into the EU common market.
Bulgaria Offers One of the Most Cost-Effective CBI Programs in Europe
Unlike some of its European counterparts, Bulgaria offers one of the most cost-effective routes to EU citizenship by investment. The minimum investment requirement is only 1 million BGN (€511,000) under a 2-year timeline. This is lower than similar programs in Malta and Cyprus. Investors can finance the entire investment amount through Bulgaria’s government bond option. There are no physical residence obligations. The total costs for a single applicant come to around €600,000 inclusive of due diligence, legal service fees, and family members. For accessing the EU long term, Bulgaria citizenship by investment remains highly competitive in terms of costs.
In summary, Bulgaria operates a well-regulated citizenship by investment program that offers a cost-efficient route to EU citizenship in 2 years with a minimum €600K outlay. The legal framework provides clear options for meeting the investment and permanent residence requirements. The streamlined application process, visa-free EU access and Bulgaria’s reasonable taxation make its CBI program an attractive proposition for foreign investors and families seeking EU citizenship.