Bulgaria
Bulgaria

Bulgaria is a Balkan nation with diverse terrain encompassing Black Sea coastline, a mountainous interior and rivers, including the Danube. A cultural melting pot with Greek, Slavic, Ottoman, and Persian influences, it has a rich heritage of traditional dance, music, costumes, and crafts.

Visa-free travel to
169+ countries

Timeline
6 to 9 Months

Dual citizenship
allowed

Investment start from
BGN 1M

Bulgaria

RESIDENCY BY INVESTMENT

The Bulgarian Immigrant Investor Program (BGIIP) was incepted in June 2009 allowing high net worth individuals and their families to obtain Bulgarian permanent residence status in period of 6 to 9 months with all the advantages of a European Union (EU) permanent residence. In 2 or 5 years, its possible to attain Bulgarian, and therefore, EU citizenship and passport.

The main applicant and his or her family members are granted physical exemption during the 5-year residency period. This means that they can live, work, or study anywhere and still maintain their permanent residency status as long as the investment is kept in Bulgaria. The program requires from the investor two statutory trips to Bulgaria – the first to file for residency permit and second to receive identity documents.

BGIIP makes provisions for two investment options with different timeframe of yielding Bulgarian passport, with the ORDINARY way citizenship is attained in 5 years, while with the FAST TRACK, the time is reduced to two years. There is no need to pass the Bulgarian language test and the dual citizenship is allowed.

Benefits

  • Visa-free access to 174 countries.
  • Residency is a fast-track (6-9 months) alternative to obtain Bulgarian Citizenship (24 months).
  • Dual citizenship is allowed.
  • No mandatory residency requirement.
  • EU member state with strategic location.
  • The right to have a business and acquire land or other immovable properties in any EU, EEA state or Switzerland.
  • Free trade environment and lowest tax rates in EU.
  • Citizenship for the whole family transferrable by descent.
  • No mandatory language tests.

Investment Options

According to the program;

The investor can apply for the permanent residency after investing 511,292 Euro (equals to 1M BGN) in governmental bond portfolio, which is secured by government bonds. The length of the investment is five years and after five years the investment fully returns to the investor without any interest charged thereon.
Another option is to pay a reduced amount of 195,000 Euro, which is used to finance 1 M BGN loan from a Bulgarian Chartered Bank. The disadvantage of this option is that 195,000 Euro is not returned to the investor after 5 years.

The next step after granting residency permit is to apply for the Bulgarian citizenship. According to the “law for the Bulgarian Citizenship” says that a person is eligible to apply for the citizenship after 5 years of legal residency in Bulgaria. There is a fast track citizenship program in Bulgaria, which gives an opportunity to the investor to apply for the citizenship only 1 year after his permanent residence status, in case he/she doubles the initial investment. In this case the total amount of the investment will be 1,022,584 Euro (Equals to 2M BGN).

  • Applicable Fees

    Due diligence for main applicant € 7,500
    Due diligence for spouse € 5,000
    Due diligence for dependent child aged 14 to 18 € 3,500
    Due diligence for dependent aged above 18 € 5,000

Application Process

Month 1

STEP 1 : Bayat legal Services’ compliance team will conduct an internal due diligence. Qualification assessment, KYC and background security check.
STEP 2: Understanding the program, signing the retainer, prepare tailor made list of documents and application preparation.
STEP 3: Submission. Pay the application fees and Appointment at Bulgarian Consulate for signing of the documents
STEP 4: Investment transfer by the applicant.

Month 2 - 3

STEP 5: Investment certificate issued.
STEP 6: Second appointment at a Bulgarian Consulate for Visa D application.
Month 4 – 5
STEP 7: Visa D granted followed by a fist trip to Bulgaria for Submission of PR application.
STEP 8: PR approval followed by second trip to Bulgaria.

Month 6 - 9

STEP 9: Receipt of Bulgarian PR card.