FREQUENTLY ASKED QUESTIONS: BULGARIAN CITIZENSHIP THROUGH INVESTMENT
April 26, 2020
In our current article we have tried to answer the most frequently asked questions by our clients, related to obtaining Bulgarian citizenship through investment.
If you have any further questions, please do not hesitate to contact us at the email addresses listed in the „Contacts” section.
1. Who can apply for Bulgarian citizenship through investment?
Bulgarian citizenship through investment can be obtained by a foreign citizen who:
– is over 18 years of age;
– has a purely criminal background /certified by a criminal record/;
– has invested at least BGN 1 000 000 (EUR 512 000);
2. What does the “Fast-track” program for acquiring Bulgarian citizenship through investment entail?
The program for obtaining Bulgarian citizenship through investment requires:
– initial investment of BGN 1 000 000 (EUR 512 000), on the basis of which the investor will be entitled to receive permanent residence in Bulgaria;
– after at least one year, the investment should be doubled with a new BGN 1 000 000 (EUR 512 000);
3. What is the standard procedure for acquiring Bulgarian citizenship through investment?
– an investment of at least BGN 1 000 000 (EUR 512 000) is required;
– the investor should obtain a permanent residence permit in the Republic of Bulgaria;
– after 5 years on permanent residence in Bulgaria, the investor has the right to apply and receive Bulgarian citizenship;
4. Do I need to know Bulgarian language or take a Bulgarian language exam in order to get Bulgarian citizenship through an investment?
No, this is not necessary.
5. Is it possible for my spouse and my children to acquire Bulgarian citizenship as well?
Initially, the spouse and children have the right to obtain permanent residence permit in the Republic of Bulgaria. At a later stage, after the main applicant (investor) acquires Bulgarian citizenship, they can also apply for Bulgarian citizenship in compliance with the legal requirements.
6. I have invested in government securities (bonds). How long it will take to receive a permanent residence permit in Bulgaria?
The average duration of this stage of the procedure is 5-6 months.
During this period the documents are reviewed by the Invest Bulgaria Agency. It also matters how quickly the applicant will provide the necessary documents for a type “D” visa and residence permit.
7. In what specific financial instruments I can invest in order to acquire Bulgarian citizenship?
The most commonly selected option is investment through government securities – bonds and treasury bills, as well as derivatives of them, issued by the state or municipalities, with a residual maturity of at least 6 months.
The other options are:
– Investment in shares of Bulgarian commercial companies, traded on the Bulgarian regulated market;
– Investment in ownership over separate part of the property of a Bulgarian commercial company with more than 50 percent state or municipal share in the capital under the Privatization and Post-Privatization Control Act;
– Investment in shares, owned by the state or the municipalities in a Bulgarian commercial company under the Privatization and Post-privatization Control Act;
– Investment in Bulgarian intellectual property – units of copyright and neighboring rights, protected by patent inventions, utility models, trademarks, service marks and industrial design;
8. How long does it take to obtain Bulgarian citizenship through an investment, depending on whether I choose the standard procedure or the “Fast-track” procedure?
2 years: fast-track procedure for investors;
6 years: standard procedure for investors;
9. How many times do I have to visit Bulgaria in person?
You need to visit Bulgaria at least 2 times for the procedure of obtaining permanent residence.
For obtaining Bulgarian citizenship, documents may also be submitted through a Bulgarian diplomatic mission or consular office abroad.
10. If I do not have the necessary funds, can I get a loan from a Bulgarian bank to make the necessary investment?
There is no procedure for financing such personal investment by local banks.
Of course, it is possible to use a loan for the purposes of the investment, if you find a foreign bank, which to support such investment.
11. What services your law firm can provide during the procedures of obtaining permanent residence and Bulgarian citizenship through investment?
Our law firm can provide each client with the full scope of legal services for obtaining right of permanent residence and Bulgarian citizenship through investment. We can represent the client before the competent Bulgarian authorities at every step.
12. What documents are required to start the procedure for obtaining permanent residence permit and Bulgarian citizenship through an investment?
After signing a legal services contract with our law firm, we will ensure that you receive a detailed information on all necessary documents, as well as step-by-step instructions on how to obtain, certify and legalize these documents.
For more information about our attorney’s fees, you can request our “Investments and Bulgarian Citizenship” Brochure by sending us an inquiry at the email addresses listed in our „Contacts” section.
MORE INFORMATION ABOUT THE BULGARIAN CITIZENSHIP YOU CAN FIND IN THE FOLLOWING RELATED ARTICLES:
Bulgarian citizenship by investment
Acquiring Bulgarian citizenship by foreigners: