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Bulgaria Amends Citizenship By Investment Programme

citizenship by investment

Bulgaria Amends Citizenship By Investment Programme

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Parliament Adopts Amendments To Bulgarian Citizenship Act

Latest News: Residency & Citizenship

This is sufficient to obtain Bulgarian citizenship through the semi-fast-track option after 5 years. The country has been a number one spot for foreign investors acquiring citizenship and enjoying the benefits of being both citizens of Bulgaria and the European Union. Through investing in real estate or government assets, high-net individuals are able to obtain an extended residence permit, permanent residence permit or Bulgarian citizenship. In return a permanent residence permit is issued to investors which allows stay in Bulgaria for an indefinite period of time.

bulgaria citizenship by investment

Art.16 of the “Law for Bulgarian citizenship“ is defining the most exotic option to obtain lightening fast citizenship in Bulgaria. Under the norm, persons with special merits in front of the Bulgarian state in the field of social and economics, science, technology, culture and sport, can get Bulgarian citizenship. Only for the most prominent foreigners who have proven track record and posses qualifications beyond the ordinary can get citizenship for special merits. Additionally, Bulgarian citizen is also everyone whose Bulgarian descent has been confirmed by a court order.

More Iraqis And Syrians Buy The Second Passport

Besides the Schengen area, the UK, and Brazil, it allows its citizens visa-free access to China, making it the only Caribbean country to do so. Although Grenada’s citizenship by investment program only started in 2013, it has quickly established itself as a serious player in the field. In both cases – donation or real estate investment – you’ll receive a passport that has visa-free access to 131 countries.

bulgaria citizenship by investment

Vanuatu Citizenship Program lets obtain a second passport in 1 month. The physical residence is not required, and the passport can be easily obtained remotely. The whole family including spouse, children, and parent can apply for citizenship. Vanuatu tax regime claims no tax on personal income, wealth, gifts, and inheritance which is beneficial for high net-worth individuals and their families. In addition to that, the whole application and citizenship acquisition process is completely confidential. St Kitts & Nevis has reduced the government fees under the real estate option of the country’s citizenship through investment program.

Program Stage One Permanent Residency

The process of obtaining Bulgarian citizenship through investments in government bonds consists of two stages. The first of them takes 1 year and involves obtaining permanent residence. To do this, it is not necessary to live in the country, it is enough just to invest in government bonds at least 1 million BGN, which is about 500 thousand euros.

Despite being an EU country, Bulgaria has retained much of its charms, rich history, traditions, and stunning landscapes. Strategically located between Western and Eastern Europe, Bulgaria has direct connections to the EU and Russia, making it a perfect country to do business with either spheres.

Countries Where You Can Buy Residency For $101,000

The Bulgarian Citizenship Investment Program doesn’t require you to pay hundreds of thousands on governmental fees, nor is your investment tied to some unclear non liquid investment that can be eventually recuperated after many years. Nor you will be required to invest millions in real estate in the Turkish staying permit country, paying the property agent 20% and more commission. The investment choices are at least as good as the ones offered by your local bank or investment advisor. Most probably you are already holding similar portfolio, so why not doing it in Bulgaria and get EU citizenship as an added bonus.

The overall costs of the application process for a family of four should be around $372,500. In conclusion, while the above factors are relatively objective, it all comes down to what works best for you specifically. And that’s why we’ll have a brief view of the investment options and which one may work better for you and your family. On the other hand, someone from Singapore, who already has visa-free access to 190 countries, will not benefit much from another European passport.

Bulgaria Halts Citizenship

Your family members are eligible for residence permit for Bulgaria, upon your residency permit in Bulgaria is approved. To calculate cost for Citizenship by investment for Bulgaria please fill in all details including family members and their age. Calculations will, includes, cost for Citizenship by investment program for Bulgaria and other charges. BestAgents for Citizenship by Investment in Bulgariaand Lawyers forCitizenship by Investment in Bulgaria and brokers for real estate Citizenship programs in Bulgaria work in conjunction for client`s protection.

bulgaria citizenship by investment

It is to be noted that in order to qualify for citizenship, the applicant must hold the property for 3 years from the date of grant of citizenship. The person who resides in the country during 4 years, including the last 12 months with a permanent residence permit, can apply for citizenship. Each applicant must pass an interview, language proficiency test, state history test, as well as take an oath of allegiance to obtain a Certificate of citizenship and passport of an Australian citizen.

Bulgarian Citizenship By Investment: Benefits, Conditions And Requirements

We have international experience in Citizenship by investment including Bulgaria, helping clients from all over the world with best services. We have best solicitors and agents for Bulgaria handling process and application who are committed for your success. Backed by international Citizenship by investment experience and Bulgaria`s legal requirements, we craft best solutions. Citizenship by investment in Bulgaria and other countries, plus lot of other supports. Citizenship by investment program support for Bulgaria is not available to individuals for Bulgaria dealing in trading, storage in Bulgaria, or transportation of Human organs.

A third, more philanthropic option is a non-returnable donation to a development fund in your country of choice. Financing your investment can be advantageous since you’ll be able to submit your citizenship application while having free capital for other investment opportunities. Securing a second citizenship requires detailed planning and careful preparation. The process can be meticulous, but each required step is clearly defined and there are many resources available to help guide you. Saint Kitts and Nevis offers several avenues for investors to secure a full citizenship for themselves and their families through economic contributions.

Advantages Of Bulgarian Citizenship By Investment Program

The Bulgarian Investor visa will normally take up to 35 business days to be issued. So, what are the actual steps to obtaining residence by investment in Bulgaria? Then the stocks or shares of a company listed on the Sofia Stock Exchange might be just the ticket. €511,292) in bonds is required to become a permanent resident of Bulgaria – a financial asset class that’s considered quite low-risk. But in the meantime, here are five residence by investment alternatives in the European Union that you might want to consider.

bulgaria citizenship by investment

Browse through all sections of our website and feel free to contact us for any queries you might have. Vanuatu passport offers visa free access to 126 countries including EU schengen states, UK, Russia. Hong kong passport ranked 20th best passport in the world with visa free access to 154 countries. Lifetime Citizenship for family and children against one time investment. Opportunity to invest in real estate starting from GBP 1.75 million. Pay tax of GBP 125,000 to Jersey or GBP 2 million investor program .

It is worth stating that the fast-track citizenship program doesn’t require the candidate to pass any language, history or other tests, nor to surrender his existent citizenship. It also doesn’t require actual stay in Bulgaria in order for the citizenship to be granted. In other words, the law foresees that the citizenship can be obtained in only 12 months from start to end. Of course this is technically not possible as there is always some extra processing time for due diligence procedures, document preparation, etc.

bulgaria citizenship by investment

For busy global entrepreneurs interested in EU residency by investment and potentially even European citizenship, the Portugal Gold Visa will now be significantly more attractive. The Malta Individual Investor Program has reached its cap of 1800 applicants and is now officially closed. The country will be launching a new economic citizenship program in a few months but the exact investment criteria has not yet been announced. There are a few investment citizenship countries that offer informal second citizenship programs that do not have specific requirements. The Austria Economic Citizenship Program offers EU citizenship to qualified individuals that “provide extraordinary economic, cultural, scientific, or artistic benefits” to the country. Obtaining citizenship through investment under such ambiguous conditions is often perceived to be risky, however, and most international entrepreneurs prefer investor citizenship programs with formal stipulations and timelines.

bulgaria citizenship by investment

Costa Rica allows its citizens, and foreigners who become naturalized in Costa Rica, to hold dual citizenship. What’s interesting about Canada is that many Canadians are born in the US. Moreover, Belgium had more relaxed laws about foreigners obtaining citizenship in the past. You had to live for three years in the country and keep a clean criminal record. Nowadays, you might need between five to nine years to obtain a Belgian passport.

Up until now, the Bulgaria programme had required investors to purchase government bonds and hold them for five years. The program corresponds to the individual needs of investors, by providing opportunities for fast-track citizenship. Through obtaining a Bulgarian residential status, investors are granted visa-free travel opportunities across all EU countries. We are a law firm with a wealth of experience in nationality law and private clients generally. We deal with applications for citizenship both involving investment and not.

bulgaria citizenship by investment

This means that subject to the investment conditions being met, the applicant is eligible for citizenship only one year after his initial investment. Of course, there is some processing time, making the total period for the naturalization a little bit longer. It is essential to understand that the investment turkish citizenship remains yours at all times! You will be never required to buy any non-liquid assets such as real estate, which will attract huge notary fees as well as 20 to 40% spread on the buy-sell contracts. The fees for the Bulgarian stock exchange for example are 0,075% for shares and 0,01% for bonds.

  • Also possible for qualified Nigerians is permanent residence status, which can lead to citizenship in Europe, the USA and Canada.
  • In some rare cases though, marrying citizens of certain countries can indeed lead to swift naturalization.
  • Prior to 2013, Cypriot citizenship was granted on a discretionary basis by ministers required investors least €10 million for a passport.
  • Bulgaria’s thriving economy encourages foreign investors to choose from a wide array of investment alternatives.

Although almost everybody can benefit from a second passport, such programs are more valuable to certain people. For example, citizens who want to discontinue or renounce their original citizenship owing to reasons such as stricter tax reforms, etc. Before gaining residency, you will need to apply for a long stay D-visa (a C-visa is for a short stay). For this, you will need to prove income, accommodations, medical insurance, and other documents, such as your passport. With this visa, you are permitted to leave and re-enter the country within the validity terms. The Cyprus Citizenship By Investment Programme is one of the most popular in the world.

Other countries offer fast track naturalization, which may or may not be commoditized. While countries like Panama offer a Friendly Nations Visa that streamlines residency requirements, they generally require years for naturalization and have no hundred percent guarantees of paying off in the end. The conventional means of obtaining citizenship and passports are by birth, marriage, and naturalization. A resident of a country can obtain citizenship usually by residing in that country for a specified period of time is called adoption.

Recent changes in the law have made the program even cheaper for large families. For example, a family of four needed to pay about $145,000 in total. This relief bond was recently introduced into the investment program in St. Lucia. St. Kitts and Nevis introduced a discounted donation option that saves applicants $100,000.

bulgaria citizenship by investment

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