No language test for residence or citizenship. This citizenship vests new rights in Europeans, viz. Read how to get it by yourself. This is a document that will be required to obtain your investor visa.Â. Feel free to send us your application at https://nomads.lpages.co/apply/ and we’ll see how we can help you.. We believe there should be no borders or entry visa restrictions, but there are. The main thing that we want to underline is that Migronis takes care of preparation and submission of your case. You will also be able to work, live, and purchase land anywhere in the European Union.Â, . In fact, Bulgaria offers favorable tax rates for both individuals and businesses – a flat 10% corporate tax rate, anyone? 2. The biggest perk of a European residence is being able to travel all over Europe visa-free. You will be able to apply for Greek citizenship in seven years’ time. The processing time for citizenship applications is usually about a year. Nor will there be any medical exams or in-person interviews.Â, . For many years now, the Bulgarian Citizenship by Investment program has been definitely the most favorable EU CBI program of … . Possess a valid passport or another foreign travel document. The plus side is that you’ll be able to travel freely and, However, you will also be subject to the whims of a large, cumbersome government entity that might impose stricter rules on. Bulgaria: The latest Bill(s) and legal amendments of the Bulgarian Citizenship by Investment program. Not many people are aware of what Bulgaria has to offer. While you get permanent residency (and all of the benefits that come with it) almost immediately, you need to wait at least two years before officially becoming a Bulgarian citizen. Your spouse (of at least five years) and underage children can all be added to the application for the same price.Â, Visa-free travel. You can either maintain your permanent residence for a minimum of 5 years, then apply and receive Bulgarian citizenship. And, that’s not including interest, which can add up to around $320K. You’ll be able to invest in government bonds if you want to apply for Bulgarian residence, an investment that’s fully recoupable once the holding period is over. However, with a Bulgarian residence and eventual citizenship, you can give up your US citizenship without giving up a solid passport.Â. It will take approximately 4-6 months to obtain residence by investment in Bulgaria. Usually, the western countries, which in general enjoy the best travel privileges worldwide, require a lengthy legal residency period (usually 10+ years), comprehensive language and history exams, etc. If you are considering renouncing your US citizenship, you will find that one of the hardest things to let go of is the strength of the US passport.Â. Read more about Portugal’s program here. But it is true – being Bulgarian citizen, you can live in Paris, Rome, Berlin, Zurich or Geneva – anywhere you wish. Your personal worldwide income won’t be taxed. Citizenship by descent. Hello Marina i am ishtiaq javed from pakistan please tell me the whole process of Bulgrain citizenship and fee amount for pakistan, Your email address will not be published. The same minimum amount applies – invest. Read more. You will find further down below the detailed timeline of the program so you can calculate for yourself when you can expect to become EU citizen if you start right now. This makes it an attractive option if you’re looking to permanently leave the US or want to expand your children’s educational opportunities as an emerging world citizen. The Bulgarian residence by investment program is not for everyone, but it is one of the easiest countries to get into in Europe.Â. You can go from snowy mountains to beautiful beaches within a day thanks to Bulgaria’s diverse geography. While you get permanent residency (and all of the benefits that come with it) almost immediately, you need to wait at least two years before officially becoming a Bulgarian citizen. Not because there would have been something wrong with these candidates, but because the foreign citizenship applicant would not be simply able to present his case and background in a proper way. The cost of living in Bulgaria is one of the lowest in Europe. Another benefit of Bulgarian citizenship is that it passes on to your descendants – even adult children. Bulgaria generally doesn’t care much about where the money comes from – provided it’s from a legitimate source. By the Bulgarian citizenship law, in case of investment in Bulgarian shares or bonds, the positions should be held for at least 2 years after the citizenship decree has been signed. So can your dependants. The Bulgarian citizenship by investment program is a two-stage procedure: The first stage is a permanent residency card application, subject to an investment of minimum 512,000 euros. In order for the application to be approved, the candidate should pass comprehensive language test, cancel (not always possible) his existing citizenship(s) and go through a number of other procedures before his application will be eventually approved. Our lawyers are lodging formal citizenship application with the Ministry of Justice. Does anyone know if this is a QMV issue or needs assent of the full 27? Once it does, you will be free to travel all over Europe visa-free when you’re a resident.Â, . Be it Canada, Australia, New Zealand, Japan, Hong Kong, just name it – Bulgarians travel freely worldwide without the need to obtain visa. Permanent residence in the country leads you down the path to obtain citizenship. Such an investment is much more secure than bank deposit (bank account). Once issued, your visa is valid for six months, so make sure you travel to Bulgaria within that period. Your personal worldwide income won’t be taxed. Bulgaria ranks #31 out of 80, sitting right in the middle along with India, Thailand, and Croatia. Bulgaria also does not appear to be all that special at first glance.Â, In many regards, Bulgaria is distinctly middle-of-the-road. +1 (979)966-6623 CONTACT US SERVICESPRIVACY POLICY FAQs, Copyright 2012-21, Nomad Capitalist Limited"Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks. Bulgarian Citizenship by Investment – updates 2020 Amendments to the existing “Law for the Bulgarian citizenship”. Bulgarian retains its CIP - latest 2019 news (VIDEO), Bulgarian citizenship for residents of Hong Kong, Special time limited offer 2020 - OFFER EXPIRED, Citizenship application – denied or delayed. The Bulgarian citizenship by investment program is stipulated in two Acts – The Foreigners of the Republic of Bulgaria Act and the Citizenship Act. US citizens who frequently do business in the EU, for example, may want to invest in an EU residence-come-passport to ensure visa-free access to the Schengen zone and other EU countries.Â. The ultimate solution, which is now being utilized by a steadily rising number of people from around the world, is to acquire citizenship of the "right" country in order to obtain better travel rights and freedom of settlement (among other things). Another great advantage of the bonds is that they can be denominated in Euro, thereby eliminating both eventual currency fluctuations and any currency exchange fees. But Bulgaria’s main goal was to boost its dwindling population numbers.Â, That’s why the government set up its residence-to-citizenship program to be extremely affordable, without considering the attractiveness of their country when it comes to actually residing there.Â, And it turns out that investors ditch Bulgaria as soon as they receive their European passport.Â. Fancy something more exciting and riskier than government bonds? We will also explain how the program works and how you can benefit today from an unique life changing opportunity. English-speaking Mediterranean island living, anyone? Invest BGN 1 million (€511,292) and hold for five years. Talk about privacy and having a low profile. While we firmly believe that the ultimate goal for everyone should be the full EU citizenship status, there are some cases when the applicant is content with Bulgarian permanent residency. That’s not the case with Bulgaria at the moment, although it’s widely accepted that it’s only a matter of time until Bulgaria becomes part of the Schengen area. For more specific questions, we recommend getting in touch with us through the contact section from the main menu above. Account opening with the selected Bulgarian bank. This way, you won’t need to worry about interest rates or outside financing, and your money will effectively be held in an account that’s locked for five years. Read more. Exhibit A. Bulgaria has recently retracted the citizenship of eight people who obtained it fraudulently. The Best Citizenship by Investment Programs for 2020, And even if you decide to expedite the process, it will still take, US News and World Report Quality of Life Ranking. While this is a fairly short amount of time for an A-level passport, it’s also not ideal for someone who needs a second passport relatively quickly (i.e., in months). Citizens of the less fortunate countries suffer from discrimination and their travel rights are being violated, even suspended completely. 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For the sake of accuracy, when determining which country provides visa-free access for certain nationals, it needs to be taken into account the different visa regimes in existence, such as "visa on arrival", "free transit visa for extended period", "electronic visa waiver", "e-visa", etc. Europe’s Golden Visas: 7 Coveted EU Residence Programs, EntreLeadership by Dave Ramsey: My Book Review, How to Start a Business with No Money or Experience. We provide full support through the Bulgarian diplomatic missions so the visa is issued in the shortest time possible. Bulgaria offers one of the cheapest permanent residence programs in Europe, and the cheapest citizenship program.Â, . , a second passport from the EU may give US business people the peace of mind that they need knowing that they will always have visa-free access to EU countries. At the moment, Bulgaria isn’t part of the Schengen, nor does it have the Euro. 2. Financing through the Bulgarian government. This step usually takes a few good weeks, or a month if we’re being generous. Or, you can double your investment to. In exchange for a safe, state-guaranteed and fully refundable investment of approximately 512,000 EUR, applicants from all nationalities can obtain Bulgarian citizenship and passport after five years. You’re also able to set up a trust account with a local Bulgarian bank of a minimum amount of €511,292. The Permanent Residence card is valid for 5 years, or for as long as your passport is valid (if less than 5 years). Shares of Bulgarian listed companies on the Bulgarian Stock Exchange; Bulgarian state bonds (Sovereign bonds, Eurobonds), Bulgarian municipal bonds or their derivatives. Citizenship and Investments LTD advises the Bulgarian Government... BCCI supports the Bulgarian Citizenship by Investment Program, The Cypriot CIP falls the first victim of the tightened EU regulations, Our participation at the "2018 Fall EB-5 Expo" in Ho Chi Minh, Vietnam, Our speaker at the "Emigration & Luxury Property" EXPO in China - 2018, Lecture in Hong Kong by our lawyer at the annual gathering on March 18, Our panellist at the "2018 Uglobal Investment Immigration Expo" in Vietnam, Rising number of US citizens applying for Bulgarian CBI, Bulgarian fast-track Citizenship vs other Countries Investment Citizenship Programs, More about the the eligibility of your investment - Government Bonds, EU Citizenship - do you need one? Border checks are being simplified and transit times shortened – all because of the prestige of the EU citizenship. If you don’t feel like doubling your investment, then the process will take longer still. Get your Spanish citizenship after ten years.Â, . You won’t have to relinquish the citizenship you already hold in order to become a Bulgarian citizen. Let’s talk about each of them in more detail.Â. After that, you can maintain your residence without having to visit the country. Yet, it’s a relatively safe loan since it’s financed through official channels.Â. Not many people know that Bulgaria has an investment immigration program that offers its applicants residence and fast-tracks them to European citizenship.Â. The Bulgaria citizenship by investment program was created by the Bulgarian Government to encourage foreign investments by offering special incentives to investors from non-EEA countries. If you need a residence or a company in the EU for business purposes, then Bulgaria is ideal.Â, . Bulgaria offers one of the cheapest permanent residence programs in Europe, and the cheapest citizenship program.Â, No residence requirement. Some clients from certain countries (with favorable visa-free travel possibilities) are often utilizing the semi-fast-track citizenship option in order to relocate to Bulgaria or to obtain much more favorable tax status than in their own country. Easy to apply. The second stage is the citizenship application. This is one of the cheapest RBI programs in the EU. We strongly advocate against practices, where the client is guaranteed successful outcome from the beginning without any preliminary due diligence and feasibility assessment. Getting Bulgarian citizenship by investment is a relatively easy process. I have a question: I’m a British citizen and my wife-to-be is a non-EU citizen. Get your Spanish citizenship after ten years.Â. That’s not the case with Bulgaria at the moment, although it’s widely accepted that it’s only a matter of time until Bulgaria becomes part of the Schengen area. Charming and sleek at the same time, Cyprus is dripping in immigration investors’ money. Meanwhile, a handful of other RBI programs offer you a no-frills option of becoming their resident without having to travel to the country at all.Â. Yet, unlike other programs, you won’t have to become a tax resident to work towards obtaining citizenship – that’s major. That’s absolutely not true.Â. What about Latvia then, a northeastern European country that might be small, but packs a powerful investment punch? Why and how to get Bulgarian citizenship by investment. State Shares. If push comes to shove and you find yourself needing to work in Bulgaria, you can legally do so as a permanent resident and a citizen. All eight investors had gone for the fast-track citizenship but failed to make or maintain their investments.Â. . Bulgarian citizenship by investment - the ultimate fast track EU citizenship choice. The next step is pretty straight-forward too.Â, You will be required to make the investment that would qualify you for obtaining Bulgarian residence.Â, The investment will need to be made in Bulgarian Lev, so you should take into consideration the forex fees too. The program isn’t widely known. We think of Bulgaria’s program as a hybrid residence-to-citizenship program. Question in relation to the EU ‘swooping in’ to levy citizenship-based taxation. You will hold this citizenship for life, unless you fail to hold up your end of the deal and it gets revoked. But it’s the Bulgarian people that truly make the place special.Â, Though a bit gruff, they are welcoming and extremely proud to show off their heritage and culture, Bulgarians are highly educated and many are multilingual too.Â. As an additional advantage, many types of profits are completely free of tax in Bulgaria, i.e. Plus, Greece just has that Mediterranean charm that Bulgaria often lacks. Andrew Henderson is the world's most sought-after consultant on international tax planning, investment immigration, and global citizenship. This makes it an attractive option for someone looking to add an EU residence and an eventual passport to their portfolio without any cumbersome language or residency requirements. This has, obviously, led to no economic growth, no new jobs being added, and certainly no boost in population. One more thing to note about spouses is that your marriage must be legally recognized in Bulgaria, which is a homophobic way of saying no LGBTQ couples are allowed. This is one of the cheapest RBI programs in the EU. Vietnam: Our participation at the "2018 Fall EB-5 Expo" in Ho Chi Minh, Vietnam. Emerging world citizens from places like China or Russia can often become frustrated with their “. Citizenship, Residency, and Visas in Bulgaria Fast Track Bulgarian Citizenship by Investment. Not many people are aware of what Bulgaria has to offer. English-speaking Mediterranean island living, anyone? As Bulgarian citizen, you and your children will also have full access to the best schools and universities in all member states. Every citizen who is a national of a (EU) Member State is also a citizen of the Union (EU). Bulgaria, as relatively small country, although having large network of consular and diplomatic missions, is obviously not represented in every country around the globe. - Epictetus Have you have ever felt like being deprived of one of the most basic human rights - the right of free movement, travel and settlement? ID card is sufficient to cross any order via the express "EU only" gates (available at all EU airports). Unlike Spain or Portugal, Bulgaria is not romanticized enough to garner much attention on its own, and its residence-to-citizenship process isn’t as quick or easy as Cyprus, whose citizenship process takes just two to three months. Effecting the second investment tranche by the client in order that the total invested amount to reach 1 024 000 EUR. But is there even a place for comparison? Since it’s somewhat akin to a call option on a stock, you can invest the minimum amount up-front and then wait to see if paying the extra 1 million Lev is worth your while. While no two cases are the same, below is the average processing time, showing the different (main) stages. Once you obtain your Bulgarian passport, you will get access to 170 different countries – visa-free. Well, the benefits of EU citizenship are certainly immense, but they come at a price. Investing EUR 430,000 in 2 residential units in the capital Sofia can allow applicants to attain full EU citizenship in as little as 18 months. Before you make a beeline for your nearest Bulgarian Consulate, ensure that you fit the eligibility criteria that the country has set out.Â, It’s a pretty simple set of eligibility criteria if you ask us, especially when you consider that you can then choose the slow or fast-track to citizenship.Â, Your immediate family members are also eligible to apply for permanent residence and the subsequent citizenship, if you so wish.Â, Bulgaria will consider your dependent children (unmarried and under the age of 18) and your spouse (of at least five years) under the same application. Learn how your comment data is processed. Of course this is technically not possible as there is always some extra processing time for due diligence procedures, document preparation, etc. to apply for citizenship after just 1 year of being a resident – the so-called fast track option. , it’s hard to give up one of the world’s strongest passports. Then you shouldn’t delay.Â, Bulgaria could prove to be the smartest decision that you’ll ever make – obtaining European citizenship for a rather low price in a country that’s soon going to be part of the Schengen and the Eurozone.Â.