Get Bulgarian/European Citizenship
Fast track Bulgarian/European citizenship through investments
The Foreigners in the Republic of Bulgaria Act (FRBA) provides the opportunity to acquire Bulgarian permanent residence and subsequently Bulgarian citizenship by investment in Bulgarian securities. The relevant legislation has been changed in early 2021. The appropriate financial instruments can be summarized as follows:
1. Investment of BGN 1’000’000 (EUR 511’292) in shares of Bulgarian UCITS (Undertakings for Collective Investments in Transferable Securities):
- Bulgarian-licensed Exchange Traded Funds (ETFs)
- Bulgarian-licensed Mutual Funds
Certain limitations apply, related to the size and the investment profile of the instruments. The funds should invest primarily in Bulgarian securities.
2. Investment of BGN 2’000’000 (EUR 1’022’584) in shares or bonds of Bulgarian companies. The securities should be listed on the stock exchange.
3. Investment of BGN 2’000’000 (EUR 1’022’584) by depositing the amount in the capital of a Bulgarian company for a priority investment project certified as per the provisions of the Investment Promotion Act.
4. Investment of BGN 500’000 (EUR 255’646) by depositing the amount in the capital of a Bulgarian company. The foreigner shall be a shareholder with not less than 50% of the capital. As a result of the Investment, new fixed tangible and intangible assets worth at least BGN 500’000 shall be acquired, and at least 10 jobs shall be created for Bulgarian citizens.
As well as a fast-track citizenship option exists for foreign individual investors who double their investment in the abovementioned securities with a lock-in period of 5 years. The applicant should maintain the investment for the whole period until the Bulgarian citizenship is granted.
Government bonds can no longer be used for Bulgarian citizenship applications. Government bonds have been excluded from the list of eligible investments leading to a Bulgarian citizenship or permanent residency status. Investors who have purchased such bonds will now have to switch to some of the instruments mentioned above.
The term for making the Investment varies in regard to the specific option the applicant choses and the availability of the Investment intermediary dealing the Investment. However, our practice reveals that usually 1 month is sufficient for this step.
Why Bulgarian citizenship?
○ The Bulgarian passport is a European Union passport
○ Free movement, education and healthcare within the EU countries
○ Unrestricted right to live, work, and study in Europe
○ Right to own property in the entire EU and Schengen zone without any restrictions
○ Open bank accounts in any EU & Schengen country
○ Bulgaria has the lowest direct tax rates in the EU
○ Free-trade environment within the EU
Stankov, Todorov, Hinkov and Spasov, Attorneys-At-Law, provides its clients full legal service through the entire process of investment and application for permanent residence and citizenship. This means management and close involvement in all the steps of the process, including investment eligibility due-diligence, preparation of the relevant documents and application forms, communication with government bodies on behalf of the client, representation and protection of client’s interest in front of institutions and third parties. We works in close cooperation with leading Bulgarian asset management firms to assure that our clients will have access to the best investment options and at the best conditions.
Investment
The terms for making the Investment varies in regard to the specific option the applicant choses. Usually, the initial identification and investment approval takes up to 1 month.
Visa D (long-stay visa)
A decision on an application for a long-stay visa for third-country citizens shall be taken within 1-2 months’ period as of the date of the application submission.
Permanent residence
The terms for granting permanent residence status vary depending on the specific applicant. The decision on the file usually takes 2-3 months from the submission of all necessary documents.
Fast-track citizenship
Application 1 year after the permit for permanent stay on the basis of an Investment and after doubling the latter under the same conditions.
Who may apply for Bulgarian citizenship?
○ Legal age (above 18 years old)
○ Clear criminal record (unless rehabilitated)
○ Proof of origin of funds
○ Exemption from physical residency requirements
○ Lack of language proficiency requirements for residence permit or citizenship
○ No requirement to revoke the current citizenship
FAMILY MEMBERS
Spouses can obtain Bulgarian citizenship after holding permanent residence for 3 years according to the latest amendments of Art. 12a of the Bulgarian Citizenship Act.
Children below 18 years old get Bulgarian citizenship immediately after the investor is granted Bulgarian citizenship. Unfortunately, children above 18 years old may apply for Bulgarian citizenship by origin, i.e. it will take more time.
Stankov, Todorov, Hinkov & Spasov, Attorneys-at-Law provides legal expertise, combined with entrepreneurial thinking. With us you are assured forward-looking solutions providing highest efficiency.
Stankov, Todorov, Hinkov & Spasov, Attorneys-at-Law has been ranked among the leading law firms in Bulgaria by the Legal 500.
The law firm is a member of Mackrell International, the global independent law firms network. The firm is also a member of the Bulgarian-Swiss Chamber of Commerce, and the Bulgarian Business Leaders Forum.
Do you want to live, run a business, work, and educate children in the EU?
Our international migration lawyers will provide you a full package of services and consulting on the entire process of application for Bulgarian/European residence permit and Bulgarian citizenship.
STANKOV, TODOROV, HINKOV & SPASOV
ATTORNEYS-AT-LAW
5 Tsar Shishman Str.
1000 Sofia, Bulgaria
+359 2 950 6264
office@sths-law.com