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.
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
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.