Starting from May 1, 2018, Bulgaria introduces new registration fees applied to the process of getting the country citizenship by investment. It is to be reminded that Bulgaria’s citizenship program is in no way connected with real estate purchase. What is more, one does not even have to live in the country before or after getting its citizenship.
The applicant invests into a special set of guaranteed government bonds once in a 5-year period. The passport of Bulgaria allows one to travel visa-free to more than 140 countries of the worlds. Bulgaria’s citizenship will give you the opportunity to live, work and study in any EU country. Unlike residence, which is practically a long-term visa, citizenship cannot be canceled based on some political or economic disagreements between countries.
Bulgaria’s citizenship provides for a simple procedure of entering Canada
In 2018, it is enough for a citizen of Bulgaria to simply obtain an electronic visa in order to enter the territory of Canada. This change became effective on December 1, 2017. It is worth noting that the authorities of Canada were preparing for this reform launch between Canada and Romania for almost a year.
As a result, Bulgaria’s citizenship gives one the opportunity to use Electronic Travel Authorization (eTA), i.e. to visit Canada without the need to get a visa. Back in 2016, Canada’s government introduced such registration system for visa-exempt travelers. However, before the flight one will have to fill in an online form and pay a fee ($7 CAD per one person).
Bulgaria’s citizenship in exchange for returnable investment
The term of document processing fully depends on the amount of investment. One can receive Bulgaria’s citizenship in 2 years under the accelerated program and in 5 years under the standard program. According to the conditions of these programs, after the expiration of a certain agreed term, the applicant’s investment can be returned, without interest accrued (returnable investment). In order to participate in Bulgaria’s citizenship by investment program, the candidate will have to visit the country several times at various stages of the application processing.
The fact that this citizenship program is the least expensive in the European region makes it even more appealing. For example, citizenship by investment offered by Cyprus requires investment of at least €2,000,000 in the local real estate. Meanwhile, Bulgaria’s citizenship, if obtained under the standard procedure, will cost €511,292 (1,000,000 BGN) and twice more – €1,022,584 (2 000 000 BGN) – if the accelerated procedure is followed.
There is an option of investment funding available for participation in Bulgaria’s citizenship program. It will allow you to substantially reduce the investment amount. However, these funds will not be returned after the 5-year term expiration. Under Bulgaria’s citizenship program, the money is to be contributed in two stages: at the first stage, you will get residence, and after the second stage – citizenship. One can choose either in favor of financing at each stage or only at one stage. Contact us to find out the details.
How to choose Citizenship by Investment program or Residence by Investment program?
We know everything about the legal ways of receiving citizenship by investment regarding any program: how the selected second citizenship program functions, how much it costs and what it is worth.
Get a free consultation at Migronis Citizenship where the company experts will provide you with the detailed information about Residence by Investment and Citizenship by Investment programs, so as about the procedure of obtaining tax resident status and the choice of real estate for rent or for purchase. You can start preparing documents to apply for the selected program with the help of Migronis Citizenship already this year.