What is happening with Bulgaria investor citizenship scheme in 2020? A lot of confusion remains with the Bulgarian citizenship by investment program (BCBI) open or not in 2020. Here are some latest updates.
Please find answers for some of the important questions below provided by the Bulgarian lawyer we work with.
Is Bulgaria citizenship scheme currently open and running?
Yes the scheme is still open for investment despite all the media reports
How many types of citizenship bulgaria grants for investors?
There are two types of citizenship route available for investors:
- Ordinary naturalization (500,000 EUR) takes 3 years and
- Fast track naturalization (1 million EUR) takes 2 years
How much investment is required for the Bulgarian passport?
The government bonds option is the most popular option (90% of clients use this route). These are acceptable investments under fast track scheme
- Capital of a Bulgarian commercial company no less than EUR 500,000
- Investment in a licensed credit investment project no less than EUR 500,000
- Acceptable investments no less than EUR 1 million: Shares, OR bonds and treasury bills, OR, ownership of company owned in more than 50% by State/municipality, OR shares owned by State/municipality, OR Bulgarian intellectual property OR rights under concession contracts
Is financing possible for Government bonds?
Yes, it is possible, financing is the cheapest route will cost you $270,000 (interest) plus $30,000 legal costs to finance the 1 million euro bonds.
Are there any language tests for investors?
No language tests are required for fast track naturalization route,
What is the citizenship procedure?
First you have to apply for permanent residence card based on investments and then file for citizenship after one year.
How much time it takes from application to passport?
2 years (24 months)
Is Bulgaria passport an EU passport?
Can i buy real estate and ask for permanent residency?
Yes, there is an option
Can i become EU citizen?
Yes Bulgarian citizens are also EU citizens.
Where can i find official information about bulgaria citizenship program?
Download the legal guide from Invest Bulgaria Agency There is also European commission report published in depth report about Bulgaria