Here are some other articles and videos to help you: When you think of second residencies and passports, odds are you think of places like Cyprus or Dominica where you can get citizenship in a matter of months.Â. Or, you can just visit it for holidays – you choose.Â, . You can have a really comfortable life for cheap in Sofia or any of its ski or beach resorts. “I never realized that a European citizenship could be so accessible. Bulgaria generally doesn’t care much about where the money comes from – provided it’s from a legitimate source. W hen you acquire citizenship under the Bulgaria Citizenship by Investment Program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent. The investment is never blocked or restricted in any way though (nor is it monitored by the authorities, at least not obviously). But, seeing just how much power the EU Commission has over these programs, we won’t be surprised if the conditions for investors will become less certain. No extra investment will need to be made. Cyprus. Talk about privacy and having a low profile. You can, however, remain a Bulgarian resident, not apply for its citizenship and hold your bonds for as long as you deem necessary.Â. Yet, it’s a relatively safe loan since it’s financed through official channels.Â. Like all foreign investment programs, you won’t have to actually reside in Bulgaria to maintain your residence permit there. Bulgaria is an attractive option for business people who want an EU passport without much hassle. We provide full support through the Bulgarian diplomatic missions so the visa is issued in the shortest time possible. There is absolutely no residence requirement in Bulgaria. Or, you can double your investment to. Achieving all that would be at least feasible, if the western countries were issuing easily residency permits (in order to start the counting clock for the required residency term). Then read on to find out more.Â, In this ultimate guide, we will tell you everything that you need to know about Bulgaria’s residence and citizenship by investment programs.Â. Once it does, you will be free to travel all over Europe visa-free when you’re a resident.Â, . The Permanent Residence card is valid for 5 years, or for as long as your passport is valid (if less than 5 years). , it’s hard to give up one of the world’s strongest passports. EU citizenship grants the permission to live, work or study in any country of the European Union. Unlike people from the US, Canada, or Australia who already have top-tier passports, emerging world citizens may not find much value in pursuing a second passport in somewhere like, 3. Once you obtain your Bulgarian passport, you will get access to 170 different countries – visa-free. How it works The Bulgarian citizenship by investment program is a two staged process. It is won by disregarding things that lie beyond our control." You can get Latvian citizenship in 10 years. It may take time, but these condition will be certainly tightened. You can invest €250,000 in Greek real estate to obtain residence there. Because you must travel to Bulgaria to obtain your residence permit, you will first need to get a travel visa to begin the application process. Plus, the government has been unable to advertise its program due to lack of funds, which has led to a vicious cycle of low numbers of applicants, low earnings, and no marketing budget. Emerging world citizens from places like China or Russia can often become frustrated with their “. Historical Prague, beautiful Greek island or ice-cold Finland – you have full rights, as EU citizen. However, with a Bulgarian residence and eventual citizenship, you can give up your US citizenship without giving up a solid passport.Â. But it’s the Bulgarian people that truly make the place special.Â, Though a bit gruff, they are welcoming and extremely proud to show off their heritage and culture, Bulgarians are highly educated and many are multilingual too.Â. This way, you won’t need to worry about interest rates or outside financing, and your money will effectively be held in an account that’s locked for five years. Cyprus and Malta are also offering their own fast-track citizenship procedures. You will also be able to work, live, and purchase land anywhere in the European Union.Â, . Unfortunately, changing citizenship or obtaining another one, is not an easy undertaking. No requirement to reside in Bulgaria. What about Latvia then, a northeastern European country that might be small, but packs a powerful investment punch? No. How to Become a Resident and Citizen of Bulgaria. ) This is probably the reason why many unregistered and not licensed agents are advising liquidating the investment right after the citizenship has been acquired. A powerful passport. But Bulgaria’s main goal was to boost its dwindling population numbers.Â, That’s why the government set up its residence-to-citizenship program to be extremely affordable, without considering the attractiveness of their country when it comes to actually residing there.Â, And it turns out that investors ditch Bulgaria as soon as they receive their European passport.Â. The Bulgarian Citizenship by Investment Program offers straightforward routes to acquiring European Citizenship for the entire family with freedoms to live, work and study in any of the 28 EU member states. However, what sets Spain apart is its large economy and worldwide status. Vietnam: Our speaker at the "2018 Uglobal Investment Immigration Expo" in Ho Chi Minh City. Especially, if you are financially independent person with sustainable and successful career or business model, you simply can’t afford your travel privileges to be restricted. EU citizens have access to the social security and medical system in all member states, depending on their choice of residency. So, you have decided to go ahead and change your citizenship status. Once you obtain your Bulgarian passport, you will get access to 170 different countries – visa-free. Frankly, that’s a fair question. For example, there are more and more US citizens that apply for the semi-fast-track option and obtain full Bulgarian citizenship at a later stage. You can also finance the bond in your home country or outside of Bulgaria. Eligible for citizenship after 5 years (Fast-track option is available). The Bulgarian citizenship by investment program offers affluent persons of impeccable standing to receive Bulgarian (EU) citizenship on the basis of an investment in Bulgaria. It has ski slopes that are as fantastic as its sandy beaches. Bulgarian citizenship by investment to be precise. Would you like to still apply under the existing conditions, as they are set out in this article? Every citizen who is a national of a (EU) Member State is also a citizen of the Union (EU). Despite these issues, Bulgaria can be an attractive option for residence and/or citizenship by investment. tells a similar story. – double your investment to a total of, and you can apply for citizenship after just one year of being a permanent resident.Â, While the regular five-year timeline to naturalization is still much faster than most other European programs, t, From start to finish, you can expect to become a Bulgarian citizen in approximately. Student credit facilities are also being provided to EU citizens at preferential conditions. Life could be worse. Life could be worse. Bulgarian Citizenship Investor Program is an attractive opportunity for foreign investors and wealthy individuals to invest in the country and gain citizenship by investment. For the most part, applicants are only interested in the fast-track to a European passport, so we’d understand if you mistook it for a regular CBI program. You can travel to Bulgaria’s capital Sofia to apply, but you can also do so at your nearest Consulate or Embassy.Â. Bulgaria is enjoying the lowest tax rate in the whole EU – 10% flat on both personal and corporate profits. "Nomad Capitalist" and "Go Where You're Treated Best" are registered trademarks, Offshore Banking: How to Open an Offshore Bank Account Legally, The best offshore banks (even for Americans), The easiest place in the world to open a bank account, The 5 countries with the safest offshore banks, Offshore Company: How a Foreign Corporation can Reduce Taxes, Labuan: Asia’s secret haven for an offshore corporation, Second Passport: How to Get Dual Citizenship, The Fastest Countries in The World to Become a Citizen, Get second residency and pay no tax in these 20 countries, Second Residence: How to Get a Residence Permit Overseas, The Best Citizenship by Investment Programs, Citizenship By Descent: How to Get an Ancestral Passport, International Investment: How to Invest in Emerging Markets, Bulgaria’s Residence by Investment Program, The Step-by-Step Bulgarian Residence by Investment Application Guide, The Pros of the Bulgarian Residence Program, The Cons of the Bulgarian Residence Program. You will also be able to work, live, and purchase land anywhere in the European Union.Â, Favorable tax. Obtaining Bulgarian Citizenship by investment is an easy and straightforward path that allows foreigners to obtain an EU citizenship. That’s absolutely not true.Â, figure out which program best fits with your personal and financial goals.Â. The procedure to get a Bulgarian citizenship through investments made in Bulgaria requires a permanent residence permit to be obtained by the foreigner. Application for permanent residency (personal presence of the applicant in Bulgaria may be required). Here at Nomad Capitalist, we can help you figure out which program best fits with your personal and financial goals.Â, But in the meantime, here are five residence by investment alternatives in the European Union that you might want to consider.Â. The second investment can be done in the same type of assets as the first investment. Read more about Portugal’s program, . Unlike countries such as. . . Bulgaria: The latest Bill(s) and legal amendments of the Bulgarian Citizenship by Investment program. Like Eastern Europe? There are many stakeholders that oppose the changes.Â. China: Our participation at the "Emigration & Luxury Property" EXPO in Shanghai on 22-23 March 2018. While we value comments that add to the conversation, we reserve the right to edit or delete anything that is abusive, threatening, libelous, spammy, or is otherwise inappropriate. You’ll next need to locate your nearest Bulgarian Embassy or Consulate because applying for a Type D Investor visa requires you to be physically present.Â, Basically, you will need to enter the country legally to deal with the remaining steps of your residence – not having a visa is not an option. Â, The visa will be valid for six months after it’s issued, so you must plan to visit Bulgaria in those six months. And those who do know wish that it would stay this way. The program isn’t widely known. There are a few other eligibility criteria, for example, you cannot be deemed a threat to national security and need to be of good financial standing (read, a high-net-worth individual). Learn more. While we firmly believe that the ultimate goal for everyone should be the full EU citizenship status, there are some cases when the applicant is content with Bulgarian permanent residency. 2. Financing through the Bulgarian government. Or, you can just visit it for holidays – you choose.Â. So, why would you want a Bulgarian passport? While this is a fairly short amount of time for an A-level passport, it’s also not ideal for someone who needs a second passport relatively quickly (i.e., in months). The second stage is the citizenship application. , which require your children to re-apply, Bulgarian citizenship is passed on automatically. Although Bulgaria has been part of the Roman and Ottoman Empires it was also key regional power and had an Independent Imperial status that occurred in two distinct periods: between the seventh and eleventh centuries, and again between the twelfth and fourteenth centuries (Bulgarian Empire) and it was the most fierce rival of the Byzantine Empire. Getting Bulgarian citizenship by investment is a relatively easy process. At just €350,000, you could become a legal resident of this country that will gladly see you invest in its real estate. The Nomad Capitalist team has helped hundreds of people create and execute holistic offshore plans to help them legally reduce their taxes, become dual citizens, and live the Nomad Capitalist lifestyle of success, 3 Tiers of Passports: How to Define the Best Passport in the World, The Guernsey Permanent Residence by Investment Guide. Don’T even need carrying your passport options when it comes to its residence-to-citizenship program be done the! 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