Why Getting Citizenship to Bulgaria is a Good Option

Citizenship to Bulgaria

Why choose Bulgaria?

Bulgaria is a European nation that has retained its culture, traditions and national identity. Its way of life, which remains untouched by the West, is completely unique. As a member country of the NATO, EU and WTO, Bulgaria promises political and financial stability. Located at the heart of the Balkans, Bulgaria has a strategic location. On top of it, Bulgaria is the cheapest European country. According to Numbeo, the cost of living in Bulgaria is 44.61% less than the U.S. and rent is approximately 75.93% lesser. Several factors that attract the nationals from all over the world to Bulgaria are:

  • Affordable and amazing destinations
  • Exquisite cuisine
  • Cultural diversity and traditions
  • Low cost of living
  • Clean and fresh environment
  • Advanced transport infrastructure that is being improved dynamically

Summing it up, Bulgaria is an affordable gateway to European lifestyle and economy.

What is citizenship by investment?

Economic citizenship has opened a world of opportunities for those seeking better lifestyle, education, economic prospects etc. Citizenship by investment is a way of procuring a second citizenship by investing in the economy of the desired country. It is a much faster and efficient method of obtaining citizenship than the traditional methods.

With this program, citizenship can be easily obtained for parents, relatives, singles, couples, etc. Some countries like Spain, Cyprus, Bulgaria, Portugal, etc. offer this program. The eligibility criteria may vary a little, but it is important that the documentation and investments be authentic and legitimate. We, at SmartMove Immigration, understand the necessity of prompt documentation and verification required for procuring citizenship through all types of programs.

Citizenship by investment to Bulgaria can be done in several ways such as:

  • Investment in Government bonds – Investment in the bonds issued by the Bulgarian government, with minimum 6 months to maturity.
  • Investment in stock market – Investment in the Bulgarian Stock Exchange in Sofia.
  • Investment in Intellectual property – Investment in patents, trademarks and industrial designs.
  • Investment in private corporations – Investing at least approximately 3 million Euros.

Citizenship to Bulgaria by Investment in Government Bonds

Unlike many countries that provide citizenship by investment in real estate, Bulgaria offers a relatively easier and reliable way. Citizenship to Bulgaria by investment in government bonds is attractive for investors as it is convenient and risk – free.

Investment in the government bonds is the most preferred class of investment in Bulgaria. Permanent residency can be obtained by investment of BGN 1 million. According to the Bulgarian Citizenship Act, this portfolio must be held for at least 5 years. After 5 years, the investors are repaid the entire amount without any interest. This investment is guaranteed by the government bonds and hence, is very reliable.

Investors looking for citizenship in Bulgaria have to apply after 5 years. However, it is possible to fast – track the process by investing an additional amount of BGN 1 million. By investing this additional amount the period can be reduced to only 2 years. It is necessary to hold permanent residence status for the first year. The dedicated staff at SmartMove Immigration will provide invaluable consultation and every assistance needed to make these formalities trouble – free.

Requirements for citizenship by investment to Bulgaria

  • Be above 18 years and a non EU citizen
  • Access to investment funds
  • Declaration of source of investment funds
  • Obtain a Bulgarian visa from the consulate abroad
  • The criminal records need to be clear.
  • Under fast-track, the qualifying investment must be maintained for the holding duration
  • All the documents must be authentic and be translated into Bulgarian
  • Make the minimum statutory trips to Bulgaria

Benefits of citizenship to Bulgaria

  • Economical benefits
    1. No inheritance taxes (for close family)
    2. Low corporate and personal income tax (only 10%)
    3. A fast growing economy
    4. The cheapest country in Europe
    5. Lowest taxation and free trade environment within the EU
    6. Highly skilled and cheap labour
    7. Political and financial stability
  • Social benefits
    1. Visa – free travel to 169 countries and enhanced mobility for trade
    2. Access to European healthcare and education facilities
    3. Ability to work, live and travel in all 27 EU countries
    4. No language requirements
    5. Not mandatory to abandon current citizenship
    6. Residency within 6 – 9 months

Conclusion

The Bulgarian economy has made significant progress starting from $ 13.15 billion in 2000 to GDP of $67.9 billion in 2019. The lev (Bulgarian currency) is the strongest and the most stable currency in Eastern Europe. Low labour costs and tax rates makes Bulgaria ideal for financial prosperity of the investors. Despite global challenges, the Bulgarian economy has maintained its excellent performance. It can be definitely concluded that all Bulgarian policies make the country worth investing in. We, at SmartMove Immigration are devoted to help make your immigration to Bulgaria hassle – free and convenient.

If you have any questions and queries on Getting Citizenship to Bulgaria then Give us a call on +91 8657 516 866 OR +91 9819 127 002 or email us at investor@smi.legal and book your appointment with our Investor Visa Experts.
Our clients in UK or India can speak to any of our Global Mobility experts based in London | Dubai | Hong Kong| Mumbai | Delhi | Gurgaon | Chandigarh | Vadodara | Bangalore.