Bulgarian Citizenship by Investment

Bulgaria is a good country to settle down with your loved ones. The country offers eye-catching sceneries, rich culture, a low tax rate, and a solid passport. Living in the country is a big flex and being a citizen of Bulgaria is a bigger flex.

Bulgaria is great if you want to become a citizen by investment. The citizenship procedure might not be as Cyprus or as attractive as Canada which offers a universal healthcare system to all its citizens, but Bulgaria is a very nice option and has a lot to offer if you want to obtain citizenship or permanent residency.

In this article, I would reveal everything you need to know about Bulgaria citizenship by investment, so you don’t fall for scams.

Benefits of Being a Bulgarian Citizen

Being a citizen of Bulgaria comes with many benefits; some of which include:

Low Taxes

 

The tax rate in Bulgaria for it is relatively low when compared to other countries in Europe. The tax rate is 10% for personal earnings and 10% for businesses, which is fairly low.

Also, there is no citizen-based tax in Bulgaria, so if you don’t have plans of staying in the country for long, you won’t face any consequences.

Citizenship by Descent

The good thing about Bulgaria citizenship is that you can pass your citizenship down to your children- your grown-up children included.

This makes it a great option if you don’t have plans of not returning to your home country for a while. Your child doesn’t need to reapply before his\her citizenship can be recognized, the citizenship takes effect immediately. Your child would enjoy all benefits accrued to being a Bulgarian and EU citizen.

European Union Citizenship

As a Bulgarian citizen, you are to enjoy the rights and privileges accrued to being an EU citizen. This is one of the juiciest parts of Bulgarian citizenship by investment. Even a permanent residential permit holder has the privilege to purchase assets in regions within the European Union.

However, you have to know that Bulgaria isn’t part of the Schengen region, so you would require a visa to access the area. Regardless, as an EU citizen, you can travel freely around the Schengen zones without hitches, but it would take longer as you would have to wait in line at the airport.

Not being a part of Bulgaria has its perks for Bulgaria, as it can easily access the UK, since the UK has no affiliation with the Schengen zone.

Quality Passport

The Bulgaria passport is one of the most sought-after passports in the world. It’s recorded as the 8th strongest passport in the world. With a passport, you can get access to 157 countries of the world without the need to use a visa.

With the Bulgaria passport, you can use it for every country in the Western world, except for the United States of America. Hence, if you have plans of traveling to the US frequently, getting Bulgarian citizenship might not be your best option. On the other hand, you can get access to countries like New Zealand, Canada, Australia, UAE, and others countries, without using a visa.

The Bulgarian passport is one of the best In the World, but if you wish to frequent the USA, then you should consider other countries.

Who Should Opt for Bulgarian Citizenship by Investment?

As good as Bulgarian citizenship by investment might be, it’s not for everyone. However, here are some of the people who should opt for Bulgarian citizenship by Investment:

People Who Have Their Business Root in the EU

Bulgaria is one of the places in Europe where you can easily get a second passport; hence, this attracts a lot of foreign business people who need an EU passport.

If you do business in the EU and want to get a passport without hitches, Bulgaria should be one of your top options. With the passport, you can access any part of the Western world, excluding the USA, of course.

People Who Want to Renounce Their Citizenship

If you want to renounce your previous citizenship; especially people seeking to renounce their US citizenship. The USA passport is very solid and you stand to lose a lot of rescinding your USA citizenship. However, with an equally strong passport like the Bulgarian passport, you have little to lose revoking your US citizenship.

Using the Bulgaria passport, you can access 157 countries of the world which is one of the best in the world.

Emerging World Citizens

If you are from a country that offers limited visa-free access to other countries of the world due to bad passports; nations like China, Russia, and other countries.

Due to limited visa-free access, you might lose opportunities; however, you can gain a top-notch passport if you apply for Bulgaria citizenship by investment.

Anyone Who Wants to Live in Bulgaria and Can Invest

If you want to live in Bulgaria and have the necessary funds to invest. With the investment, you can easily get a permanent residence permit and citizenship, if found eligible.

Bulgaria is a beautiful country- rich and diverse culture, thrilling scenery, and a low tax rate is one of the major selling points of Bulgaria.

How to Become a Bulgarian Citizen Through Citizenship by Investment

Here are a few steps needed to obtain Bulgarian citizenship, using citizenship by investment:

Ensure You Are Eligible

Before you apply for citizenship at the closest Bulgaria consulate, you have to ensure you are eligible for citizenship by investment, according to the standards of the Bulgaria government Some of the requirements include:

• You must possess a valid passport
• You are not to have any past criminal record.
• You are not currently an EU citizen.
• You must have a valid passport

Make an Investment

You have to invest at least €512,000 in Bulgaria. If you are considered eligible, you should begin your Citizenship by investment process by investing.

Establish Permanent Residency

Immediately after you are done completing your finances and paperwork, your next step is to apply for citizenship by investment at the closest Bulgarian consulate. After the Ministry of Foreign Affairs has approved your application, you would be issued a visa that allows you to enter Bulgaria and process your permanent residency.

Acquiring Citizenship

You will have to wait for a while after getting your permanent residency permit before you can be a recognized citizen of Bulgaria. This normally lasts from 2 to 5 years.

Final Thoughts

Bulgaria is one of the best countries to apply for citizenship by investment in Europe. The process is fast and hitch-free. This makes it one of the most sought-after countries in the world. We went into detail on everything you need to know about the process.