Founded in 681, Bulgaria is one of the oldest states in Europe and has a rich history dating back to the Roman Era. The country is located in the Balkans in south-eastern Europe, bordering Romania to the north, Serbia and the Republic of Macedonia to the west, Greece and Turkey to the south and The Black Sea to the east. Bulgaria is the third-largest country in Southeast Europe (after Romania and Greece). Several mountainous areas define the landscape, with its beautiful and well kept secret of lakes, mountain ranges and natural wealth.
The population of Bulgaria is 7.3 million people, predominantly urban, and mainly concentrated in the administrative centres of its 28 provinces. Most commercial and cultural activities are concentrated in Sofia, the capital. The strongest sectors of the economy are heavy industry, power engineering and agriculture, all relying on local natural resources.
Bulgaria is a European Union Member state, which functions as a parliamentary democracy within a unitary constitutional republic, and is also a member of NATO, the United Nations and the World Trade Organization.
The Bulgarian Immigrant Investor Program offers a direct path to residence for investors. Benefits of settling include:
- Fast track process: 6 to 9 months within legislative framework
- Physical residency exemption
- Favorable tax rates: a flat 10% personal and corporate income tax
- Government support for priority investment projects
- Well-educated and highly-skilled labor force at Europe’s lowest operational cost
- EU and NATO membership
- Free movement within Schengen countries
- Strategic geographic location
Bulgaria is one of only four countries that has a route called “economic citizenship”, where the country grants residency/citizenship to a foreign investor and his/her family in return for a significant investment in the country. This program is instant in its character, as there are no permanent residency requirements.
- Full irrevocable European Union lifetime citizenship, which cannot be revoked, regardless of any changes in the governmental executives and/or policy;
- A strong international image of the country extends your investment, entrepreneurial and employment abilities;
- Visa-free access to, Schengen States (EU),The Bulgarian Passport is a safe one to carry when traveling to specific countries;
- Extra protection for assets and privacy;
Change of name is legally available;
- Zero tax on gift, wealth and inheritance, no estate duty, no long-term capital gains;
- No prior residence requirements;
- No need to renounce your current citizenship(s)
ADVANTAGES TO THE BULGARIAN INVESTOR PROGRAM
The Citizenship Program of Bulgaria is the perfect fit for high net worth investors who are willing to invest in this vibrant and well established economy. Once the investment has been made, the investor is given a permanent residency visa, with no residency requirements, with the ability to apply for a Bulgarian passport and citizenship.
The application process commences with the confidential verification of the applicant’s background, assets, and sources of funds. Once the verification has been completed, a special declaration is made to the Bulgarian Government, authorities then process the investment transaction. Then, once the investment is made, the client receives a certified investment certificate from the Ministry of Finance.
Permanent Residency is issued within four to six months after submission of the application. The physical residency requirement is waived by the Bulgarian Government through a special exception. After a residency Visa has been granted, investors are able to travel visa free within the European Union region, set up a business in Bulgaria, or simply visit whenever they choose to, without any restrictions.
The Bulgarian program requires a foreign direct investment of 1,000,000 BGN or approximately 500,000. This must be placed in a Government Bond Portfolio for a period of five years without any accrued interest. There are two methods for investing this capital:
Full investment and Financed Investment. The investor deposits the full amount of 1,000,000.00 BGN (approximately ¤500,000) from outside of Bulgaria into in a Guaranteed Government Bond Portfolio for a period of five years. No further payment is required. At the end of the five year period, these funds are returned to the investor with no accrued interest. The investment is fully guaranteed and secured by the government.
The investor pays a reduced amount of ¤180,000. This reduced amount is used to finance a 1,000,000 BGN closed five year term loan from a Bulgarian Chartered Bank. This loan is then directly invested in the Guaranteed Government Bond. At the end of the five year term, the loan is paid back to the bank; nothing is returned to the investor, nor is there any further cost to the investor.
Applicants who choose this option select this Financed Investment Option will have to demonstrate net worldwide assets of more than ¤1,000,000.